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OM 300 Exam 1 Chilcutt: Questions And Detailed Answers
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OM 300 Exam 1 Chilcutt: Questions And Detailed Answers
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OM 300 Exam 1 Chilcutt: Questions And DetailedAnswers
What is Operations Management? Right Ans - the set of activities that
create value in the form of goods and services by transforming inputs into
outputs
Marketing (Essential Function) Right Ans - generates demand
Finance/Accounting (Essential Function) Right Ans - creates the product
Supply Chain Right Ans - A global network of organizations and activities
that supply a firm with goods and services
Members of the Supply Chain Right Ans - collaborate to achieve high levels
of customer satisfaction, efficiency, and competitive advantage
Why Study Operations Management? Right Ans - 1. one of 3 major
functions of any organization, we want to study how people organize
themselves for productive enterprise
2. We want (and need) to know how goods and services are produced
3. We want to understand what operations managers do
4. costly part of an organization
What Do Operations Managers Do? Right Ans - planning, organizing,
staffing, leading, controlling
Strategic Operations Management Decisions - Base Right Ans - people,
product, process
Strategic Operations Management Decisions - Staff Right Ans - quality
management, inventory management, supply chain management
Strategic Operations Management Decision - Place Right Ans - location,
layout
Strategic Operations Management Decision Right Ans - Scheduling and
Maintenance
, Goods Right Ans - Manufacturers produce tangible products
Services Right Ans - Economic activities that typically produce an
intangible product
Productivity Challenge Right Ans - Ratio of outputs divided by inputs
Productivity Right Ans - Measure of process improvement
Single-Factor Productivity Right Ans - Output levels relative to single input
Total Factor Productivity Right Ans - Output achieved with given inputs
Quality Right Ans - Measurement problem: may change while
inputs/outputs constant
External Elements Right Ans - Measurement problem: may impact
productivity
Challenges in Improving Service Productivity Right Ans - Labor intensive,
focused on unique attributes, intellectual, hard to mechanize, evaluate quality
Current OM Challenges Right Ans - Globalization, Supply-chain partnering,
Sustainability, Rapid product development, Mass customization, Lean
operations
Challenges Facing Operations Managers Right Ans - 1. Develop and
produce safe, high-quality green products
2. Train, retrain, and motivate employees in a safe workplace
3. Honor stakeholder commitments
Stakeholders Right Ans - The people whose interests are affected by an
organization's activities
Reasons to Globalize Right Ans - Tangible to Intangible: reduce costs,
improve supply chain, provide better goods and services, understand markets,
learn to improve operations, attract and retain global talent
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