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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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OPERATIONS MANAGEMENT EXAM #1 QUESTIONS AND ANSWERS1. 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
2/
48
,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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