OSCM 373 Exam #1 (asynchronous EC
lectures)
Operations Management (OM) - correct answer ✔✔creation of value - products (goods and services) -
by transforming inputs into outputs
Inputs - correct answer ✔✔the resources—such as labor, money, materials, and energy—that are
converted into outputs
Outputs - correct answer ✔✔the goods, services, and ideas that result from the conversion of inputs
Transformation - correct answer ✔✔operations, processes
organizing to produce goods and services - correct answer ✔✔operations -> finance/accounting ->
marketing
operations - correct answer ✔✔create products (goods and/or services)
finance/accounting - correct answer ✔✔• acquire resources
• track organization performance
• pay bills, collect payments
Marketing - correct answer ✔✔• determine customer wants/needs
• generate demand
supply chain - correct answer ✔✔- a network of organizations and activities involved in the creation of
goods and services.
,- members of the supply chain collaborate to achieve high levels of customer satisfaction, efficiency and
competitive advantage
Why study OM? - correct answer ✔✔1. OM the essence of any org.
2. Understand how good and services are produced
3. OM is a costly part of an org.
4. Understand what operations managers do
10 Strategic OM Decisions - correct answer ✔✔1. Design of goods and services
2. Managing quality
3. Process strategy
4. Location strategies
5. Layout strategies
6. Human resources
7. Supply-chain management
8. Inventory management
9. Scheduling
10. Maintenance
Design of goods and services - correct answer ✔✔Defines what is required of operations
Product design determines quality, sustainability and human resources
Managing Quality - correct answer ✔✔Determine the customer's quality expectations
Establish policies and procedures to identify and achieve that quality
Process and capacity - correct answer ✔✔How to produce goods or services
Choice of specific technology, quality, resources, and investment
Location Strategy - correct answer ✔✔Nearness to customers, suppliers, and talent.
, Considering costs, infrastructure, logistics, and government.
Layout Strategy - correct answer ✔✔Integrate capacity needs, personnel levels, technology, and
inventory
Determine the efficient flow of materials, people, and information
Human Resources and Job Design - correct answer ✔✔Recruit, motivate, and retain personnel with the
required talent and skills
Integral and expensive part of the total system design
Supply Chain Management - correct answer ✔✔Integrate supply chain into the firm's strategy.
Determine what is to be purchased, from whom
Coordinate operations
Inventory Management - correct answer ✔✔Inventory ordering and holding decisions
Optimize considering customer satisfaction, supplier capability, and production schedules
Scheduling - correct answer ✔✔Determine and implement intermediate- and short-term schedules
Utilize personnel and facilities while meeting customer demands
Maintenance - correct answer ✔✔-Consider facility capacity, production demands, and personnel
-Maintain a reliable and stable process
OM Jobs and Responsibilities - correct answer ✔✔- Technology/methods
-Facilities/space utilization
- strategic issues
- response time
people/team development
- customer service
lectures)
Operations Management (OM) - correct answer ✔✔creation of value - products (goods and services) -
by transforming inputs into outputs
Inputs - correct answer ✔✔the resources—such as labor, money, materials, and energy—that are
converted into outputs
Outputs - correct answer ✔✔the goods, services, and ideas that result from the conversion of inputs
Transformation - correct answer ✔✔operations, processes
organizing to produce goods and services - correct answer ✔✔operations -> finance/accounting ->
marketing
operations - correct answer ✔✔create products (goods and/or services)
finance/accounting - correct answer ✔✔• acquire resources
• track organization performance
• pay bills, collect payments
Marketing - correct answer ✔✔• determine customer wants/needs
• generate demand
supply chain - correct answer ✔✔- a network of organizations and activities involved in the creation of
goods and services.
,- members of the supply chain collaborate to achieve high levels of customer satisfaction, efficiency and
competitive advantage
Why study OM? - correct answer ✔✔1. OM the essence of any org.
2. Understand how good and services are produced
3. OM is a costly part of an org.
4. Understand what operations managers do
10 Strategic OM Decisions - correct answer ✔✔1. Design of goods and services
2. Managing quality
3. Process strategy
4. Location strategies
5. Layout strategies
6. Human resources
7. Supply-chain management
8. Inventory management
9. Scheduling
10. Maintenance
Design of goods and services - correct answer ✔✔Defines what is required of operations
Product design determines quality, sustainability and human resources
Managing Quality - correct answer ✔✔Determine the customer's quality expectations
Establish policies and procedures to identify and achieve that quality
Process and capacity - correct answer ✔✔How to produce goods or services
Choice of specific technology, quality, resources, and investment
Location Strategy - correct answer ✔✔Nearness to customers, suppliers, and talent.
, Considering costs, infrastructure, logistics, and government.
Layout Strategy - correct answer ✔✔Integrate capacity needs, personnel levels, technology, and
inventory
Determine the efficient flow of materials, people, and information
Human Resources and Job Design - correct answer ✔✔Recruit, motivate, and retain personnel with the
required talent and skills
Integral and expensive part of the total system design
Supply Chain Management - correct answer ✔✔Integrate supply chain into the firm's strategy.
Determine what is to be purchased, from whom
Coordinate operations
Inventory Management - correct answer ✔✔Inventory ordering and holding decisions
Optimize considering customer satisfaction, supplier capability, and production schedules
Scheduling - correct answer ✔✔Determine and implement intermediate- and short-term schedules
Utilize personnel and facilities while meeting customer demands
Maintenance - correct answer ✔✔-Consider facility capacity, production demands, and personnel
-Maintain a reliable and stable process
OM Jobs and Responsibilities - correct answer ✔✔- Technology/methods
-Facilities/space utilization
- strategic issues
- response time
people/team development
- customer service
