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OSCM 303 MIDTERM STUDY GUIDE QUESTIONS WITH CORRECT ANSWERS GRADED A+
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OSCM 303 MIDTERM STUDY GUIDE QUESTIONS WITH CORRECT ANSWERS GRADED A+
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OSCM 303 MIDTERM1. Production: the creation of goods and services
2. Operations management the set of activities that create value in the form
(OM): of goods and services by transforming inputs into
outputs
3. The essential functions 1. Marketing, which generates the demand, or
for Production of goods at least takes the order for a product or service
and services (nothing happens until there is a sale).
2. Operations/produciton, which creates, pro-
duces, and delivers the product.
3. Finance/accounting, which tracks how well the
organization is doing, pays the bills, and collects
the money.
4. Supply chain a global network of organizations and activities
that supply a firm with goods and services
5. 10 Strategic OM Deci- 1. Design of goods and services
sions 2. Managing quality
3. Process strategy
4. Location strategies
5. Layout strategies
6. Human resources
7. Supply-chain management
8. Inventory management
9. Scheduling
10. Maintenance
6. Characteristics of goods: -Tangible
-Production usually separate from consumption
-Manufacturer and customer are separated in
time and space
-Consistent product definition
Standardized products
, OSCM 303 MIDTERM
-Low customer interaction
-Can be inventoried
7. Characteristics of ser- (1) Intangible,
vices: (2) inseparable: used almost right as it is made
(ex movies)
(3) variable: varies from customer to customer
(4) perishable: once the services is done it is over
8. Productivity the ratio of outputs (goods and services) divided
by the inputs (resources such as labor and capi-
tal)
9. Challenges for OSCM -Develop and produce safe, high-quality "green"
managers products and services.
-Train, retrain, and motivate employees in a safe
workplace.
-Honor stakeholder commitments.
10. A system A group of interacting, interrelated, or interdepen-
dent elements or parts that function together as
a whole to accomplish a goal.
11. A productive system in- Inputs>> processes>> outputs>> feedback
cludes:
12. Single-factor productivi- a productivity score that measures output levels
ty relative to single input
13. multifactor productivity a productivity score that measures output levels
relative to more than one input
14. 2 ways to increase pro- 1) Decrease Inputs; Keep Outputs Constant
ductivity 2) Increase Outputs; Keep Inputs Constant
15. Productive System:
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