Operations MGT correct answers Design, operation, and improvement of productive systems used to produce goods and provide services by transferring inputs into outputs
OM Traditional correct answers Manufacturing Factory goods and providing services
OM Today correct answers Coordination of Pro...
MGT 371 Exam 1 || WITH SOLVED ANSWERS
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Operations MGT correct answers Design, operation, and improvement of productive systems
used to produce goods and provide services by transferring inputs into outputs
OM Traditional correct answers Manufacturing Factory goods and providing services
OM Today correct answers Coordination of Production Resources (MGT,- logistics,
purchasing, inventory mgt, process design, product design)
Customer Contact correct answers usually higher with services; customer may be internal
part of service
Uniformity of Input/output correct answers more standardization with goods
Labot Content correct answers usually higher with services; labor vs automation
Poductivity measures correct answers easier with goods
quality assurance and measurement correct answers easier with goods; consistent level'
compare standard
simultaneous production and consumption correct answers more likely with services' length
of time between production and consumption
tangible output correct answers physical items vs act
Location-Services correct answers customers
Goods correct answers Suppliers and distribution
Productivity correct answers is the ration of outputs to inputs
GOAL correct answers Efficiency and effectively transform inputs into outputs
Forecasting correct answers Prediction of future events based on historical data; basis for
planting and decision making; Use for production outputs, inventory, sales,
facilities/capacity, personnel, etc.
Long Range correct answers - 2 to 5 years
- Broad/general
, - Long term decisions
= Designing the System
Intermediate correct answers - 6 Mos to 18 months
- Product families
- Tied to budget
- Production planning
Short Term correct answers - <6 months
- Specific Products
- Most accurate hopefully*
- Production Scheduling
Process correct answers 1. Determine purpose/uses of forecast
2. Select items to forecast
3. Determine time horizon
4. Select forecasting model/technique
5. Gather dates
6. Make forecast
7. Validate & implement results; monitor how technique worked "closing the loop"
Qualitative forecasting correct answers - Situation is vague and little or no data exists
- Intuition and experience; tend to be more subjective
- Used more for long term forecasting
Jury of Executive opinion correct answers - Pool opinions of small group high level experts
and managers
- group estimates demand (working together)
- Combine managerial experience with statistical models
- Relatively quick
- Disadvantage = possibility of group work
Delphi Method correct answers - Alternative group process, continues until consensus
reached
- three types of participants
1. Respondents; people who can make value judgments
2. Decision makers' evaluate responses and make the design
3. Staff' administer the survey
Salesforce Composite correct answers - Each sales person projects his her sales
- Combine at district and national levels
- Sales reps know customers wants/needs
- May be coverly optimistic
Market Surveys correct answers - Ask customers about purchasing plans
- Useful for demand; new product design; overall planning
- What consumers say vs what they do may differ
- may be overly optimistic
Quantitative Forecasting correct answers - Situation is stable and historical data exists
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