BUS 3130 - Midterm 1 || with 100% Verified Solutions.
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Course
BUS 3130
Institution
BUS 3130
Operations Management correct answers the processes that effectively produce transform, and deliver a product or service
designing, activation and improving processes
*each and every business function must manage its own operations
*HOW THIS GET DONE
Effective OM and SCM correct answers...
BUS 3130 - Midterm 1 || with 100% Verified Solutions.
Operations Management correct answers the processes that effectively produce transform, and
deliver a product or service
designing, activation and improving processes
*each and every business function must manage its own operations
*HOW THIS GET DONE
Effective OM and SCM correct answers use resources more efficiently
-improve business processes effectiveness
-improve relationships btw business entities
-help meet strategic goals
-increase customer service
OM (how things get done) correct answers -improvement of business systems for better
customer service, reduce cost and greater competitiveness
-removing waste and increasing value-ad
-applicable to all managers and all business functions
How OM impact organization correct answers -interfaces with ALL key functions in an org
(getting away from 'functional silos)
-equally important for services
-improves productivity of org
-greater need for an enterprise view (not just their own functional view)
how OM impact society correct answers -creates high standard of living through improved
productivity
-better quality and lowerG&S
-min enviro impacts
-improved working conditions
OM oreinted discipline correct answers Management of the conversion process which transforms
inputs such as raw material and labor into outputs in the form of finished goods and services.
process correct answers a system of activities that transforms inputs into valuable outputs.
, SCOR correct answers based on a 5 distinct management process
1) planning
2) sourcing
3) making
4) delivering
5) returning
competitive priorities correct answers what the company wold live to achieve. How the company
would like compete, and bet their competitors
Competitive Capabilities correct answers the unique and valued skills, processes ad knowledge
the firm is able to actually achieve and use to satisfy customers
manufacturing is shrinking part of our economy correct answers bc moving offshore
manufacturing processes correct answers change material (tangible) in one or more following
dimensions
-physical properties
Service process correct answers if not doing manu process
-locations, exhange.....
* continuum of characteristics correct answers
servitization correct answers "trend to blend"
ex iphone
product and service
services are a larger part of US economy
productivity correct answers generally a measure of Output per Input
to imporve
increase output
decrease input
efficiency correct answers how well we are doing whatever it is we are doing
effectiveness correct answers doing the right kinds of things (using right resources)
value correct answers doing something customers are willing to pay for
enviro forces correct answers changing management practices such as lean, TQM, 6 sigma
-tech
-globalization
-natural enviro and growing importance of triple Bottom Line
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