QDM Exam 1 Questions And Answers With Real Solutions
0 view 0 purchase
Course
QDM Expert
Institution
QDM Expert
QDM Exam 1 Questions And Answers With Real Solutions
What is Operations Management? ANS Activities that relate the creation of goods and services through the transformation of inputs to outputs.
Set of activities, creates value in the form of goods and services by transforming inputs into outpu...
QDM Exam 1 Questions And Answers With Real
Solutions
What is Operations Management? ANS Activities that relate the creation of goods and services through the
transformation of inputs to outputs.
Set of activities, creates value in the form of goods and services by transforming inputs into outputs.
Significant Events in OM ANS Cost Focus, Quality Focus, Customization Focus, Globalization Focus
Frederick W. Taylor ANS Born 1856, died 1915
Known as 'father of scientific management'
In 1881, as chief engineer for Midvale Steel, studied how tasks were done (began first motion and time
studies)
Created efficiency principles
Taylor's Principals ANS Mgmt should take more responsibility for:
-matching employees to right jobs
-providing the proper training
-providing proper work methods and tools
-establishing legitimate incentives for work to be accomplished
Henry Ford ANS Born 1863, died 1947
1903: created Ford Motor Company
1913: first used moving assembly line to make Model T (unfinished product moved by conveyor past work
station)
Paid workers very well for 1911
W. Edwards Deming ANS Born 1900, died 1993
Engineer and physicist
Credited with teaching Japan quality control methods in post WW2
Used statistics to analyze process
His methods involve workers in decisions
, Goods vs Services ANS Tangible: ride in airline seat (S) vs Intangible: the seat itself (G)
Produced and consumed simultaneously: beauty salon produces a haircut that is consumed as it is produced (S)
vs Product can usually be kept in inventory: beauty care products (G)
Unique: investments and medical care (S) vs Similar products produced: iPod (G)
High customer interaction: often what customer is paying for: consulting, education (S) vs Limited customer
involvement in production (G)
Inconsistent product definition: auto insurance changes with age and type of car (S) vs. Product standardized:
iPhone (G)
Knowledge based: legal, education, medical services are hard to automate (S) vs Standard tangible products,
make automation feasible (G)
Services dispersed: may occur at retail office, house call, or via internet (S) vs Product typically produced at a
fixed facility (G)
Quality may be hard to evaluate: consulting, education, medical services (S) vs Many aspects of quality for
tangible products, easy to evaluate: strength of a bolt (G)
Reselling is unusual: music concert or medical care (S) vs Product often has some residual value (G)
The Productivity Challenge ANS Productivity is the ratio of outputs (goods and services) divided by the
inputs (resources such as labor and capital). outputs/inputs
*improving productivity means improving efficiency*
Measure of process improvement
Represents output relative to input
Only through productivity increases can our standard of living improve.
Labor Productivity
Company produces 1000 units using 250 hours of labor ANS Productivity = units produced / labor-hours
used
=1000/250=4 units/labor hour
1 resource input=single-factor productivity
Multi-Factor Productivity ANS Productivity=output / labor+material+energy+capital+
miscellaneous
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 Nipsey. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
