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COB 300- Operations Final Exam Questions and Answers
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COB 300- Operations Final Exam Questions and Answers
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COB 300- Operations Final ExamQuestions and Answers
Goods - Answers -physical items produced by business organizations
Services - Answers -activities that provide some combination of time, location, form and
psychological value
Operations Management - Answers -the management of systems or processes that
create goods and or provide services
Supply Chain - Answers -a sequence of activities and organizations involved in
producing and delivering a good or service
Value-Added - Answers -the difference between the cost of inputs and the value or price
of outputs
Process - Answers -one or more actions that transform inputs into outputs
Lead Time - Answers -the time between ordering a good or service and receiving it
Model - Answers -an abstraction of reality; a simplified representation of something
System - Answers -a set of interrelated parts that must work together
Pareto Phenomenon - Answers -a few factors account for a high percentage of the
occurrence of some events
Craft Production - Answers -system in which highly skilled workers use simple, flexible
tools to produce small quantities of customized goods
Mass Production - Answers -system in which low-skilled workers use specialized
machinery to produce high volumes of standardized goods
Interchangeable Parts - Answers -parts of a product made to such precision that they do
not have to be custom fitted
Division of Labor - Answers -the breaking up of a production process into small tasks,
so that each worker performs a small portion of the overall job
,Six Sigma - Answers -a process for reducing costs, improving quality and increasing
customer satisfaction
Agility - Answers -the ability of an organization to respond quickly to demands or
opportunities
Lean System - Answers -system that uses minimal amounts of resources to produce a
high volume of high quality goods with some variety
Sustainability - Answers -using resources in ways that do not harm ecological systems
that support human existence
Ethics - Answers -a standard of behavior that guides how one should act in various
situations
Ethical Framework - Answers -a sequence of steps intended to guide thinking and
subsequent decision or action
Outsourcing - Answers -buying goods or services instead of producing or providing
them in house
Competitiveness - Answers -how effectively an organization meets the wants and needs
of customers relative to others that offer similar goods or services
Strategies - Answers -plans for achieving organizational goals
Tactics - Answers -the methods and actions take to accomplish strategies
Core Competencies - Answers -the special attributes or abilities that give an
organization a competitive edge
Order Qualifiers - Answers -characteristics that customers perceive as minimum
standards of acceptability to be considered as potential for purchase
Order Winners - Answers -characteristics of an organizations goods or services that
cause it to be perceived as better than the competition
Environmental Scanning - Answers -the monitoring of events and trends that present
threats or opportunities for a company- remember crest
Operation Strategy - Answers -the approach, consistent with the organization strategy
that is used to guide the operations function
Quality Based Strategy - Answers -strategy that focuses on quality in all phases of an
organization
, Time-Based Strategy - Answers -focuses on reduction of time needed to accomplish
tasks
Productivity - Answers -a measure of the effective use of resources usually expressed
as the ratio of output to input
Contract Manufacturer - Answers -an organization that performs manufacturing and/or
purchasing needed to produce a product of device not for itself but as a service to
another firm
Concurrent Engineering - Answers -emphasizes cross-functional integration and
concurrent development of a product and its processes
Quality Function Deployment - Answers -QFD - a process that helps a company
determine the product characteristics important to the consumer and to evaluate its own
product in relation to others
House of Quality - Answers -a matrix that helps a product design team translate
customer requirements into operating and engineering goals
Value Analysis/Value Engineering - Answers -analysis with the purpose of simplifying
products and processes by achieving equivalent or better performance at a lower cost
Ecodesign - Answers -the incorporation of environmental considerations into the design
the development of products or service
Cycle Time - Answers -the average time between completions of successive units in a
process
Utilization - Answers -the ratio of the time that a resource is actually activated relative to
the time that it is available for use
Buffering - Answers -a storage area between stages where the output pf a stage is
placed prior to being used in a downstream stage
Blocking - Answers -the activities in the stage must stop because there is no place to
deposit the item just completed
Starving - Answers -the activities in stage must stop because there is no work
Bottleneck - Answers -a resource that limits the capacity or maximum output of the
process
Make-to-Order - Answers -a process that is activated only in response to an actual
order
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