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Summary I-Core P370 Operations Midterm Exam Questions and Answers (Latest Update 2024) $12.99   Add to cart

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Summary I-Core P370 Operations Midterm Exam Questions and Answers (Latest Update 2024)

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I-Core P370 Operations Midterm Exam Questions and Answers (Latest Update 2024)

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  • September 28, 2024
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  • I-Core P370 Operations
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I-Core P370 Operations Midterm Exam
Questions and Answers (Latest Update
2024)
Transformation System - Correct Answer ✅ A user of resources that
transforms inputs into some desired outputs



Types of Transformations (6 Total) - Correct Answer ✅ Physical -
Manufacturing

Locational - Transportation

Exchange - Retailing

Storage - Warehousing

Physiological - Health Care

Informational - Telecommunications



Triple bottom line - Correct Answer ✅ An accounting framework with three
parts: social, environmental (or ecological) and financial. [People, Planet,
Profit]



Operations Management is... - Correct Answer ✅ The design, operation
and improvement of the systems that creates the firm's primary products
and services



3 Types of OM Decisions - Correct Answer ✅ Strategic - Long Term, Often
involving acquisition of new resources



Tactical - Medium Term, Using existing resources



Operational - Short Term, (Think shift scheduling at a hospital)



Functional Strategies - Correct Answer ✅ Finance Strategy

Marketing Strategy

, I-Core P370 Operations Midterm Exam
Questions and Answers (Latest Update
2024)

Operations Strategy is derived from the... - Correct Answer ✅ Corporate
Strategy



Hierarchy of Strategic Roles (4 Stages) - Correct Answer ✅ Stage 1 -
Internally Neutral (Don't Mess Up)

- Minimize Downside

Stage 2 - Externally Neutral (Keep up with Joneses)

- Match competitors performance

Stage 3 - Internally Supportive (Consistency with Corporate Strategy [50's
and 60's])

- Strategy is formulated and adhered to

Stage 4 - Externally Supportive (be a full partner in the company)

- Using operations as a competitive advantage



Design (Product) Quality & Process Quality - Correct Answer ✅
Performance & Consistency



Southwest's Quick Gate Policy focused on what? - Correct Answer ✅
Becoming the lowest internal cost airplane policy



Productivity Formula - Correct Answer ✅ Outputs/Inputs



4 Types of Productivity - Correct Answer ✅ Partial (Over a single input)

labor productivity = outputs/labor input



Total (Over all inputs)

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