ECU OMGT 3123 Exam 1 Questions with
Latest Update
define Operations Management - Answer-Involves "the planning, scheduling, and
control of the activities that transform inputs into finished goods and services"
Define Supply chain management - Answer-is the "Active management of supply chain
activities and relationships to maximize customer value and achieve a sustainable
competitive advantage.
-The conscious effort to manage the supply chain in the most efficient and effective
ways possible"
goods vs services - Answer-goods- tangible product. "Hows it manufactured, stored,
moved throughout the plant"
service- Intangible. "how much customer involvement, how much customization, types
of knowledge"
supply chain flows - Answer-Raw materials/ Supplier management -> Production and
operations -> Finished goods/customer service.
UPSTREAM & DOWNSTREAM
supply chain issues - Answer--Length of the supply chain(geo, # of parts, # of
suppliers/customers)
-Complexity
-Stability
-Competitors
trends in operation management - Answer-Technology
Risk Management
Relationship Management and Collaboration
Environmental and Social responsibility
Globalization and interconnectedness
Greater emphasis on analytics
Renewed efforts to be more efficient and improve revenue.
Job growth
trends in supply chain - Answer-Technology
Risk Management
Relationship Management and Collaboration
Environmental and Social responsibility
Globalization and interconnectedness
Greater emphasis on analytics
Renewed efforts to be more efficient and improve revenue.
, Job growth
what is strategy - Answer-a set of carefully selected and integrated business
priorities/plans to achieve the objectives of the firm
top down model of strategy - Answer-mission statement -> Business strategy =>
operations and supply chain strategies, other functional strategies
components of top down model of strategy - Answer-
efficiency trade-offs - Answer-Quality vs. Cost , high quality = high cost
Time vs. Quality , less time = lower quality
Flexibility vs. Cost , more flexibility = higher cost
Cost vs. Everything
operations impact on performance - Answer--Quality (performance, conformance,
reliability)
-Time (delivery speed and reliability, development speed)
-Flexibility (mix, changeover, volume)
-Cost (labor, material, engineering, quality-related)
supply chain impact on performance - Answer--Quality (performance, conformance,
reliability)
-Time (delivery speed and reliability, development speed)
-Flexibility (mix, changeover, volume)
-Cost (labor, material, engineering, quality-related)
Efficiency and effectiveness
define capacity - Answer-Capacity is a measure of a worker, machine, work center,
plant, or organization to produce goods and services in a given time period
what are the measure of capacity (& examples) - Answer-machine= parts produced in
an hour
worker= hours worked in a day
law firm= cases worked on in a month
Latest Update
define Operations Management - Answer-Involves "the planning, scheduling, and
control of the activities that transform inputs into finished goods and services"
Define Supply chain management - Answer-is the "Active management of supply chain
activities and relationships to maximize customer value and achieve a sustainable
competitive advantage.
-The conscious effort to manage the supply chain in the most efficient and effective
ways possible"
goods vs services - Answer-goods- tangible product. "Hows it manufactured, stored,
moved throughout the plant"
service- Intangible. "how much customer involvement, how much customization, types
of knowledge"
supply chain flows - Answer-Raw materials/ Supplier management -> Production and
operations -> Finished goods/customer service.
UPSTREAM & DOWNSTREAM
supply chain issues - Answer--Length of the supply chain(geo, # of parts, # of
suppliers/customers)
-Complexity
-Stability
-Competitors
trends in operation management - Answer-Technology
Risk Management
Relationship Management and Collaboration
Environmental and Social responsibility
Globalization and interconnectedness
Greater emphasis on analytics
Renewed efforts to be more efficient and improve revenue.
Job growth
trends in supply chain - Answer-Technology
Risk Management
Relationship Management and Collaboration
Environmental and Social responsibility
Globalization and interconnectedness
Greater emphasis on analytics
Renewed efforts to be more efficient and improve revenue.
, Job growth
what is strategy - Answer-a set of carefully selected and integrated business
priorities/plans to achieve the objectives of the firm
top down model of strategy - Answer-mission statement -> Business strategy =>
operations and supply chain strategies, other functional strategies
components of top down model of strategy - Answer-
efficiency trade-offs - Answer-Quality vs. Cost , high quality = high cost
Time vs. Quality , less time = lower quality
Flexibility vs. Cost , more flexibility = higher cost
Cost vs. Everything
operations impact on performance - Answer--Quality (performance, conformance,
reliability)
-Time (delivery speed and reliability, development speed)
-Flexibility (mix, changeover, volume)
-Cost (labor, material, engineering, quality-related)
supply chain impact on performance - Answer--Quality (performance, conformance,
reliability)
-Time (delivery speed and reliability, development speed)
-Flexibility (mix, changeover, volume)
-Cost (labor, material, engineering, quality-related)
Efficiency and effectiveness
define capacity - Answer-Capacity is a measure of a worker, machine, work center,
plant, or organization to produce goods and services in a given time period
what are the measure of capacity (& examples) - Answer-machine= parts produced in
an hour
worker= hours worked in a day
law firm= cases worked on in a month
