Exam (elaborations)
OSCM 373 Exam #1 (asynchronous EC lectures) with 100% correct answers
- Course
- Institution
OSCM 373 Exam #1 (asynchronous EC lectures) with 100% correct answers
[Show more]
Content preview
OSCM 373 Exam #1 (asynchronous EClectures)
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
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 $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81531 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
