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OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS

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OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS

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  • June 8, 2024
  • 48
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
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OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS

1. Organizations
Marketin
Have 3
g
Basic
Operatio
Functions
ns
2. What is Opera- Finance
tions?
The part of a business organization that is
responsible for producing goods or services

Influences all of the rest of the

3. What is Oper- organization The actual doing part of the
ations Manage-
ment? business process

4. Operations Man- The management of systems or processes that
agement affects: create
goods and/or provide services


Companies' ability to compete


5. Why study OM? Every aspect of business affects or is affected by
opera- tions

There is a significant amount of interaction and
collabo- ration amongst the functional areas




6. The Operations The creation of goods and services through the
Function transfor- mation of inputs into outputs


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,OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS




7. Feedback measurements taken at various points in the
transforma- tion process




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,OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS

8. Control The comparison of feedback against previously
estab-
lished standards to determine if corrective action is
need- ed.

9. Value Added value/price of output - cost of input
10. Processes ( M a nO- perations & Supply Chains vs Sales and
marketing
aging to Meet De-
mand) Supply e Demand is wastefully costly

Supply < Demand causes Opportunity
Loss/Customer Dissatisfaction

Supply = Demand is Ideal

11. Processes (Vari-Variations can be disruptive to operations and
processes.
ation)
They may result in additional costs, delays and
shortages, poor quality, and inefficient work
systems.




12. Manufacturing goods-oriented (tangible things)

physical items that include raw materials, parts,
sub- assemblies, and final products.
Automobi
le
Computer
Oven
Shampoo
13. Service act-oriented

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, OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS

activities that provide some combination of time,
location, form or psychological value.
Air travel
Education




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