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COB 300- Operations Final Exam Questions and Answers 100% Pass
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COB 300- Operations Final Exam Questions and Answers 100% Pass Goods - physical items produced by business organizations Services - activities that provide some combination of time, location, form and psychological value Operations Management - the management of systems or processes that create...

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  • January 8, 2025
  • 21
  • 2024/2025
  • Exam (elaborations)
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  • cob 300 operations final exam questions and answe

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COB 300- Operations Final Exam
Questions and Answers 100% Pass

Goods - ✔✔physical items produced by business organizations


Services - ✔✔activities that provide some combination of time, location, form and psychological value


Operations Management - ✔✔the management of systems or processes that create goods and or provide

services


Supply Chain - ✔✔a sequence of activities and organizations involved in producing and delivering a

good or service


Value-Added - ✔✔the difference between the cost of inputs and the value or price of outputs


Process - ✔✔one or more actions that transform inputs into outputs


Lead Time - ✔✔the time between ordering a good or service and receiving it


Model - ✔✔an abstraction of reality; a simplified representation of something


System - ✔✔a set of interrelated parts that must work together


Pareto Phenomenon - ✔✔a few factors account for a high percentage of the occurrence of some events


Craft Production - ✔✔system in which highly skilled workers use simple, flexible tools to produce small

quantities of customized goods




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Mass Production - ✔✔system in which low-skilled workers use specialized machinery to produce high

volumes of standardized goods


Interchangeable Parts - ✔✔parts of a product made to such precision that they do not have to be custom

fitted


Division of Labor - ✔✔the breaking up of a production process into small tasks, so that each worker

performs a small portion of the overall job


Six Sigma - ✔✔a process for reducing costs, improving quality and increasing customer satisfaction


Agility - ✔✔the ability of an organization to respond quickly to demands or opportunities


Lean System - ✔✔system that uses minimal amounts of resources to produce a high volume of high

quality goods with some variety


Sustainability - ✔✔using resources in ways that do not harm ecological systems that support human

existence


Ethics - ✔✔a standard of behavior that guides how one should act in various situations


Ethical Framework - ✔✔a sequence of steps intended to guide thinking and subsequent decision or action


Outsourcing - ✔✔buying goods or services instead of producing or providing them in house


Competitiveness - ✔✔how effectively an organization meets the wants and needs of customers relative to

others that offer similar goods or services


Strategies - ✔✔plans for achieving organizational goals


Tactics - ✔✔the methods and actions take to accomplish strategies




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Core Competencies - ✔✔the special attributes or abilities that give an organization a competitive edge


Order Qualifiers - ✔✔characteristics that customers perceive as minimum standards of acceptability to be

considered as potential for purchase


Order Winners - ✔✔characteristics of an organizations goods or services that cause it to be perceived as

better than the competition


Environmental Scanning - ✔✔the monitoring of events and trends that present threats or opportunities

for a company- remember crest


Operation Strategy - ✔✔the approach, consistent with the organization strategy that is used to guide the

operations function


Quality Based Strategy - ✔✔strategy that focuses on quality in all phases of an organization


Time-Based Strategy - ✔✔focuses on reduction of time needed to accomplish tasks


Productivity - ✔✔a measure of the effective use of resources usually expressed as the ratio of output to

input


Contract Manufacturer - ✔✔an organization that performs manufacturing and/or purchasing needed to

produce a product of device not for itself but as a service to another firm


Concurrent Engineering - ✔✔emphasizes cross-functional integration and concurrent development of a

product and its processes


Quality Function Deployment - ✔✔QFD - a process that helps a company determine the product

characteristics important to the consumer and to evaluate its own product in relation to others




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