OMGT MIDTERM || QUESTIONS WITH COMPLETE SOLUTIONS.
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Operations and Supply Chain Management (OSCM) correct answers design, operation, and improvement of the systems that create and deliver the firm's primary products and services
Servitization correct answers building service activities to support a firm's product offerings
Efficiency correct a...
OMGT MIDTERM || QUESTIONS WITH COMPLETE
SOLUTIONS.
Operations and Supply Chain Management (OSCM) correct answers design, operation, and
improvement of the systems that create and deliver the firm's primary products and services
Servitization correct answers building service activities to support a firm's product offerings
Efficiency correct answers doing something at the lowest possible cost
Effectiveness correct answers doing the right things to create the most value for the company
Value correct answers ratio of quality to price paid
Mass Customization correct answers producing products to order in lot sizes of one
Sustainability correct answers the ability to maintain a balance in a system
Triple Bottom Line correct answers relates to the economic, employee, and environmental
impact of the firms strategy
Operations and Supply Chain Strategy correct answers setting broad policies and plans for
using the resources of a firm to best support the firm's long term competitive strategy
Straddling correct answers occurs when a firm seeks to match what a competitor is doing by
adding new features, services, or technologies to existing activities.
Order Winner correct answers a dimension that differentiates the products or services of one
firm from those of another
Order Qualifier correct answers a dimension used to screen a product or service as a
candidate for purchase
Activity-system Maps correct answers a diagram that shows how a company's strategy is
delivered through a set of supporting activities
Core Capabilities correct answers skills that differentiate a manufacturing or service firm
from its competitors
Productivity correct answers a measure of how well resources are used
Learning Curve correct answers A line displaying the relationship between unit production
time and the cumulative number of units produced.
Individual Learning correct answers Improvement that results when people repeat a process
and gain skill or efficiency from their own experience
Organizational Learning correct answers Improvement that comes both from experience and
from changes in administration, equipment, and product design
, Process correct answers Any set of activities performed by an organization that takes inputs
and transforms them into outputs ideally of greater value to the organization than the original
inputs
Cycle Time correct answers The average time between completions of successive units in a
process.
Utilization correct answers The ratio of the time that a resource is actually activated relative
to the time that it is available for use
Buffering correct answers A storage area between stages where the output of a stage is place
prior to being used in a downstream stage; allows the stages to operate independently
Blocking correct answers The activities in the stage must stop because there is no place to
deposit the item just completed.
Starving correct answers The activities in a stage must stop because there is no work
Bottleneck correct answers A resource that limits the capacity or maximum output of the
process
Make-to-order correct answers A process that is activated only in response to an actual order
Make-to-stock correct answers A process that produces standard products that are served in
finished goods inventory. The product is delivered quickly to the customer from the finished
goods inventory
Hybrid correct answers Combines the features of both make-to-order and make-to-stock.
typically, a generic product is made and stocked at some points in the process. These generic
units are customized in a final process to meet actual orders.
Pacing correct answers Movement of items through a process is coordinated through a timing
mechanism.
Efficiency correct answers A ratio of the actual output of a process relative to some standard.
Run Time correct answers The time required to produce a bath of parts.
Setup Time correct answers The time required to prepare a machine to make a particular
item.
Operation Time correct answers The sum of the setup time and run time for a batch of parts
that are run on a machine
Flow Time correct answers The average time that it takes a unit to move through an entire
process. Usually the term LEAD TIME is used to refer to the total time that it takes a
customer to receive an order.
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