Exam (elaborations)
OM 300 Final Exam – Chilcutt: Questions With Solutions
- Course
- Institution
OM 300 Final Exam – Chilcutt: Questions With Solutions
[Show more]
Content preview
OM 300 Final Exam – Chilcutt: Questions With SolutionsABCs of Good Spreadsheet Modeling Right Ans - All your excel work must
Be
Correct
Documented
Engineered,
Flexible.
Strategic Decisions in OM Right Ans - The base - People, product, process
The place - Location and Layout
The stuff - Quality management, Inventory management, supply chain
management
The face - Scheduling and maintenance
Basic Business Functions Right Ans - 1) Marketing: generates demand
2) production/operations: creates the product
3) finance/accounting: tracks how well the organization is doing , pays bills,
and collects the money
Production Right Ans - The creation of goods and services.
Productivity Right Ans - ratio of outputs (goods and services) divided by
one or more inputs (such as labor, capital, or management.)
Multi-factor Productivity Right Ans - Output / Labor + Material + Energy +
Capital + Miscellaneous
Indicates the ratio of many or all resources (inputs) to the goods and services
produced (outputs)
Competitive Advantage Right Ans - The creation of a unique advantage
over competitors
Better, cheaper, faster
Product Life Cycle Right Ans - Introduction, growth, maturity, decline (Find
the graph)
, Outsourcing Right Ans - A decision by a corporation to turn over much of
the responsibility for production to independent suppliers.
-Legal services
-IT services
-Travel services
-Payroll
-Production
-Surgery
Core Competencies Right Ans - - A defining capability or advantage that
distinguishes an enterprise from its competitors.
*DO NOT OUTSOURCE THESES
Critical Path Right Ans - The computed longest time path(s) through a
network
Project Manager Right Ans - Coordinate activities w/ other departments
and reports directly to top management
Responsible for ensuring:
1) all necessary activities are finished in proper sequence and on time
2) project stays within budget
3) project meets quality goals
4) people assigned to project receive motivation, direction, and info needed to
do their jobs
Crash a Project Right Ans - Shortening the Time of the Project by increasing
the number of resources usually in the most cost effective manner.
Always choose the cheapest solution.
- If The amount by which an activity is crashed is, in fact, permissible
- Taken together, the shortened activity durations will enable us to finish the
project by the due date
- If The total cost of crashing is as small as possible
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 Studyhall. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now