Operations Management Processes and Supply Chain With Questions And Answers…
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Course
Operations Management Processes and Supply Chain
Institution
Operations Management Processes And Supply Chain
Operations Management Processes and
Supply Chain With Questions And
Answers…
Competitive Capabilities (11) - CORRECT ANSWER --The cost, quality, time, and
flexibility dimensions that a process or supply chain actually possesses and is able to
deliver. When the capability falls short of t...
Operations Management Processes and
Supply Chain With Questions And
Answers…
Competitive Capabilities (11) - CORRECT ANSWER --The cost, quality, time, and
flexibility dimensions that a process or supply chain actually possesses and is able to
deliver. When the capability falls short of the priority attached to it, management
must find ways to close the gap or else revise the priority.
Competitive Priorities (11) - CORRECT ANSWER --The critical operational
dimensions a process or supply chain must possess to satisfy internal or external
customer, both now and in the future. They must be present to maintain or build
market share or to allow other internal processess to be successful.
Consistent Quality (12) - CORRECT ANSWER --Producing services or products that
meet design specifications on a consistent basis.
Core Competencies (9) - CORRECT ANSWER --The unique resources and
strengths that an organization's management considers when formulating strategy.
They reflect the collective learning of the organization, especially in how to
coordinate processes and integrate technologies.
Core Process (7) - CORRECT ANSWER --The set of activities that delivers value to
external customers. Managers of these processes and their employees interact with
external customers and build relationships with them, develop new seervices and
products, interact with external suppliers, and produce the service or product for the
external customer.
Customer Relationship Process (7) - CORRECT ANSWER --Indentify, attract, and
build relationships with external customers, and facilitate the placement of orders by
customers. Traditional functions, such as marketing and sales, may be a part of this
process.
Customization (12) - CORRECT ANSWER --Satisfying the unique needs of each
customer by changing service or product designs.
Development Speed (12) - CORRECT ANSWER --Quickly introducing a new service
or a product.
External Customers (4) - CORRECT ANSWER --A customer who is either an end
user or an intermediary (manufacturers, financial institutions, or retailers) buying the
firm's finished services or products.
,External Suppliers (4) - CORRECT ANSWER --The businesses or individuals who
provide the resources, services, products, and materials for the firm's short-term and
long-term needs.
Internal Customers (4) - CORRECT ANSWER --One or more employees or
processes that rely on inputs from other employees or processes in order to perform
their work.
Internal Suppliers (4) - CORRECT ANSWER --The emplyees or processes that
supply important information or materials to a fimr's processes.
Lead Time (9) - CORRECT ANSWER --The elapsed time between the receipt of a
customer order and filling it.
Low-Cost Operations (12) - CORRECT ANSWER --Delivering a service or a product
at the lowest possible cost to the satisfaction of external or internal customers of the
process or supply chain.
Nested Process (5) - CORRECT ANSWER --The concept of a process within a
process.
New Service / Product Development Process (7) - CORRECT ANSWER --A process
that designs and develops new services or products from inputs received from
external customer specifications or from the market in general through the customer
relationship process.
Operation (2) - CORRECT ANSWER --A group of resources performing all or part of
one or more processes. Processes can be lined together to form a supply chain.
Operations Management (2) - CORRECT ANSWER --The systematic design,
direction, and control of processes that transform inputs into services and products
for internal, as well as external, customers.
Operations Strategy (7) - CORRECT ANSWER --The means by which operations
implements the firm's corporate strategy and helps to build a customer-driven firm.
Order Fulfillment Process (7) - CORRECT ANSWER --A process that includes the
activities required to produce and deliver the service or product to the exernal
customer.
Order Qualifier (13) - CORRECT ANSWER --Minimal level required from a set of
criteria for a firm to do business in a particular market segment.
Order Winner (11) - CORRECT ANSWER --A criterion customers use to differentiate
the services or products of one firm from those of another.
Process (2) - CORRECT ANSWER --Any activity or group of activities that takes one
or more inputs, transforms them, and provides one or more outputs for its customers.
, Productivity (16) - CORRECT ANSWER --The value of outputs (services and
products) produced divided by the values of input resources (wages, costs of
equipment, and so on).
Supplier Relationship Process (7) - CORRECT ANSWER --A process that selects
the suppliers of services, materials, and information and facilitates the timely and
efficient flow of these items into the firm.
Supply Chain (2) - CORRECT ANSWER --An interrelated series of processes within
and across firms that produces a service or product to the satisfaction of customers.
Supply Chain Management (2) - CORRECT ANSWER --The synchronization of a
firm's processes with those of its suppliers and customers to match the flow of
materials, services, and information with customer demand.
Support Process (7) - CORRECT ANSWER --A process that provides vital resources
and inputs to the core processes and therefore is essential to the management of the
business.
Time-Based Competition (11) - CORRECT ANSWER --A strategy that focuses on
the competitive priorities of delivery speed and development speed.
Top Quality (12) - CORRECT ANSWER --Delivering an outstanding service or
product.
Variety (12) - CORRECT ANSWER --Handling a wide assortment of servies or
products efficiently.
Volume Flexibility (12) - CORRECT ANSWER --Accelerating or decelerating the rate
of production of services or products quickly to handle large fluctuations in demand.
Activity (53) - CORRECT ANSWER --The smallest unit of work effort consuming
both time and resources that the project manager can schedule and control.
Activity-On-Node (AON) Network (55) - CORRECT ANSWER --An approach used to
create a network diagram, in which nodes represent activities and arcs represent the
precedence relationships between them.
Activitiy Slack (59) - CORRECT ANSWER --The maximum length of time that an
activity can be delayed without delaying the entire project, calculated as S = LS - ES
or S = LF - EF.
Close Out (70) - CORRECT ANSWER --An activity that includes writing final reports,
completing remaining deliverables, and compiling the team's recommendations for
improving the project process.
Crash Cost (CC) (61) - CORRECT ANSWER --The activity cost associated with the
crash time.
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