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OMIS 2010 questions with verified answers graded A+(passed)
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OMIS 2010 questions with verified answers graded A+(passed)
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OMIS 20101. What is operations management - correct answer ✔✔• Management of activities and resources that
create goods and/or provide services.
• The design, operation, and improvement of manufacturing and service systems that make products,
control inventory, maintain equipment, and provide services to customers
2. What is operations - correct answer ✔✔• A function or system that transforms inputs into outputs of
greater value. The transformation process can be physical, locational, exchange, psychological,
physiological, and informational
3. What is a value chain - correct answer ✔✔• A series of activities from supplier to customer that add
value to a product or service
4. What are the four primary functional areas of a firm - correct answer ✔✔• Marketing,
finance/accounting, human resources, and operations/suppliers
5. What is craft production - correct answer ✔✔• The process of handcrafting products or services for
individual customers
6. What is the difference between goods vs. services - correct answer ✔✔• Goods are tangible, low
customer contact, high uniformity of input and output, low labour content, and easy to measure
productivity and quality.
• Services are acts, deeds, or performances, are intangible, output is variable, high customer contact,
perishable, service and service delivery are inseparable, services are decentralized and geographically
dispersed, and services are consumed more often than products, low uniformity of input and output,
high labour content, difficult to measure quality and productivity, and easily emulated
7. What is mass production vs. lead production - correct answer ✔✔• An adaptation of mass production
that prizes quality and flexibility.
• The high volume production of a standardized product for a mass market
,8. What is the quality revolution - correct answer ✔✔• An emphasis on quality and the strategic role of
operations - production tied to consumer demand
9. What is competitiveness - correct answer ✔✔• The ability and performance of an organization in the
marketplace as compared to other organizations that offer similar goods or services- based on qualities
such as cost, quality, flexibility, and delivery
10. What is productivity - correct answer ✔✔• The ratio of output to input - efficient resource use -
difficult to measure for services
• Affected by methods and management techniques, equipment and technology, and labour (i.e., the
skill levels of the workers)
11. What is strategy - correct answer ✔✔• Strategies: plans for directing organization to achieve
mission/vision/goals including balanced scorecard and SWOT analysis.
• Operations strategy: coordinated set of policies, objectives, and action plans related to operations
function in nine categories.
14. What is the difference between projects vs. processes - correct answer ✔✔• Projects: Occurs just
once. There is only one set of deliverables.
• Processes: Occurs repeatedly. Many deliverables that occur regularly over a long period of time
15. What is strategy formulation - correct answer ✔✔• Defining a primary task - What is the firm in the
business of doing
- Assessing core competencices
- Determining order winners and order qualifiers
- Positioning the firm
- Deploying the Strategy
16. What is flexibility - correct answer ✔✔Ability to adjust to changes in product mix, production
volume, or design
17. What is mass customization - correct answer ✔✔The mass production of customized products
, 18. What is policy deployment - correct answer ✔✔Translates corporate strategy into measurable
objectives
19. What are Hoshins - correct answer ✔✔Action plans generated from the policy deployment process
20. What is a balanced scorecard - correct answer ✔✔• a performance assessment tool that includes
metrics related to customers, processes, learning and growing, and finances - red danger zone is less
than 40%, yellow cautious zone is 40% to 60%, and green moving ahead zone is 60% to 100%)
21. What are KPI's - correct answer ✔✔• Set of measures that help managers evaluate performance in
critical areas
22. What is a supply chain - correct answer ✔✔• The facilities, functions, and activities involved in
producing and delivering a product or service from suppliers (and their suppliers) to customers (and
their customers)
23. Why do we need supply chains - correct answer ✔✔• Increasing competition, outsourcing,
globalization, e-commerce, and Managing orders and inventories
24. What is a procurement - correct answer ✔✔• Purchasing goods and services from suppliers
25. What is SCM - correct answer ✔✔• Supply chain management is managing the flow of information
through the supply chain to make it more responsive to customer needs while lowering costs
• Key to effective supply chain management are information, communication, cooperation, and trust
26. How do supply chains deal with demand uncertainty - correct answer ✔✔• Reduce uncertainty -
making demand predictable, avoid uncertainty by reducing lead times and increasing supply chain
flexibility so product can be made/assembled to order, and hedge against uncertainty with buffers of
excess capacity
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