Gms 401 - Study guides, Class notes & Summaries

GMS 401 MIDTERM 2 Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

Economic Analysis of Capital Investment Proposals - evaluation of alternative investments in plant and equipment requires inputs from both operations and finance people Non Profit Organizations - the value of outputs is their value to society, the greater the value added, the greater the efficiency of these operations Operations Management - the management of activities and resources that create goods and or provide services Activities in Operations - Forecasting Capacity Planning Schedu...

GMS 401 - Midterm #1 Exam Questions and Answers 100% Pass Operations Management - Answer- the management of activities and resources that create goods and or provide services Activities in Operations - Answer- Forecasting Capacity Planning Scheduling Managing Inventories Assuring Quality Employee Motivation and Training Location of Facilities Buying Materials Efficiency - Answer- Operating at minimum cost and time Effectiveness - Answer- Achieving quality and timeliness Functions w...

GMS 401 - Midterm #1 Exam Questions and Answers 100% Pass Operations Management - Answer- the management of activities and resources that create goods and or provide services Activities in Operations - Answer- Forecasting Capacity Planning Scheduling Managing Inventories Assuring Quality Employee Motivation and Training Location of Facilities Buying Materials Efficiency - Answer- Operating at minimum cost and time Effectiveness - Answer- Achieving quality and timeliness Functions w...

GMS 401 Final exam Questions and Answers 100% Pass Production - Answer- the creation of goods and services Operations Management - Answer- Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - Answer- A global network of organizations and activities that supply a firm with goods and services Services - Answer- Economic activities that typically produce an intangible product (such as education, entertainment, lodging, g...

Natural variation - variability that affects every production process to some degree and is to be expected; also known as common cause Experience Differentiation - Engaging a customer with a product through imaginative use of the five senses, so the customer "experiences" the product Production - the creation of goods and services Operations Management - Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - A global n...

American Society for Quality defines quality as: - the totality of features and characteristics of a product or service that bears on its ability to satisfy stated or implied needs. An operations manager's job is to: - build a total quality management system that identifies and satisfies customer need. 4 possible "causes" of quality problems - Material, Machinery, Manpower, and Methods 6 Supply Chain Strategies for goods and services to be obtained from outside sources - 1. negotiating ...

GMS 401 Final exam Questions and Answers 100% Pass Production - Answer- the creation of goods and services Operations Management - Answer- Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - Answer- A global network of organizations and activities that supply a firm with goods and services Services - Answer- Economic activities that typically produce an intangible product (such as education, entertainment, lodging, g...

GMS 401 Final exam Questions and Answers 100% Pass Production - Answer- the creation of goods and services Operations Management - Answer- Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - Answer- A global network of organizations and activities that supply a firm with goods and services Services - Answer- Economic activities that typically produce an intangible product (such as education, entertainment, lodging, g...

GMS 401 Final Exam Questions and Answers (Graded A+) GMS 401 Final Exam Questions and Answers (Graded A+) GMS 401 Final Exam Questions and Answers (Graded A+) GMS 401 Final Exam Questions and Answers (Graded A+) Production - ANSWER-the creation of goods and services Operations Management - ANSWER-Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - ANSWER-A global network of organizations and activities that supply a fi...