Exam (elaborations)
OSCM 373 Exam 1 with 100% correct answers rated A+
- Course
- Institution
OSCM 373 Exam 1 with 100% correct answers rated A+
[Show more]
Content preview
OSCM 373 Exam 1What are the 3 basic functions of an organization? - correct answer ✔✔Marketing, Operations, and
Finance
What is operations? - correct answer ✔✔The production of goods and/or delivery of services
What is operations Management? - correct answer ✔✔The management of systems or processes that
create goods and/or provide services
Operations management affects... - correct answer ✔✔A companies ability to compete
The Transformation Process - correct answer ✔✔The conversion of inputs into outputs. (Value added =
value/price of output - cost of input)
What is the operations managers role - correct answer ✔✔To guide the system by decision making
System Design - correct answer ✔✔Capacity, Facility location, facility layout, and product and service
planning.
Strategic Decisions - correct answer ✔✔-Usually require long-term commitment of resources
-determine parameters of system operation
Sources of Waste - correct answer ✔✔Inventory, over-production, waiting time, (unnecessary)
transportation, over-processing, inefficient work methods, product defects, under utilizing worker skills
The 5S's - correct answer ✔✔Sort/segregate, simplify/straighten/set-in-order, shine/sweep, standardize,
sustain/self-discipline.
Sort/Segregate - correct answer ✔✔Keep only what is needed in the work area, remove waste
, Simplify/Straighten/Set-in-Order - correct answer ✔✔Improve work flow and reduce wasted motion
Shine/sweep - correct answer ✔✔Clean daily, use cleaning to inspect work area.
Standardize - correct answer ✔✔Know the process, remove variations from processes. Use standard
procedures, apply the best practices
Sustain/Self-discipline - correct answer ✔✔Review work, maintain correct procedures, implement
standards, maintain quality, train employees
Safety - correct answer ✔✔Built into practices
Support/Maintenance - correct answer ✔✔Use preventative maintenance. Reduce variability and
unplanned downtime
Modeling - correct answer ✔✔Key tool used by decision makers
Types of models - correct answer ✔✔Physical, mathematical, schematic
Benefits of models - correct answer ✔✔-Easier to use and less expensive than the real system
-Serve as a consistent tool for evaluation and provide a standardized format for analyzing a problem
Limitations of Models - correct answer ✔✔-Important variables may be missed
-Quantitative information may be emphasized over qualitative
-Models may be incorrectly applied and results misinterpreted
Quantitative methods - correct answer ✔✔Linear programming, Forecasting techniques, Inventory
methods, project models, statistical models, queuing techniques
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kirus27. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78075 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now