Mgt 333 - Study guides, Class notes & Summaries

Operations managers are responsible for assessing consumer wants and needs and selling and promoting the organization's goods or services. - Correct AnswersFalse Service operations require additional inventory because of the unpredictability of consumer demand. - Correct AnswersFalse If one organization is better able than most to respond to changes in demands or opportunities, we say that organization exhibits higher: - Correct Answersagility Production systems with customized outputs ...

MGT 333 Exam 1 Study 100% Verified 60 percent (sales increase of 60 percent would be required to achieve the same percentage increase in profit). - ANS-For an organization with annual sales of $500 million, purchases of $300 million and profit of $50 million, a 10 percent reduction in the cost of purchases would result in a profit-leverage effect of: a reduction in purchase spend increases profit more than an equivalent increase in sales. - ANS-The profit-leverage effect of supply saving...

MGT 3332 - Chapters 1-5 Exam Questions with 100% Verified Correct Answers The term capacity refers to the maximum quantity an operating unit can process over a given period of time. - Correct Answer TRUE Capacity decisions are usually one time decisions; once they have been made, we know the limits of our operations. - Correct Answer FALSE Capacity in excess of expected demand that is intended to offset uncertainty is a: A. positioning hedge. B. capacity cushion. C. margin protect. D...

1. A company's supply chain involves the flow of materials and information from suppliers, through production, to the end users. True False 2. In supply chain organizations, functions must operate independently of each other. True False 3. In purchasing, one's only ethical obligation is to one's suppliers. True False 4. Using third-party logistics involves using your organization's logistics function to ship to customers that are not officially part of the supply chain. True False ...

1. A company's supply chain involves the flow of materials and information from suppliers, through production, to the end users. True False 2. In supply chain organizations, functions must operate independently of each other. True False 3. In purchasing, one's only ethical obligation is to one's suppliers. True False 4. Using third-party logistics involves using your organization's logistics function to ship to customers that are not officially part of the supply chain. True False ...

If one organization is better able than most to respond to changes in demands or opportunities, we say that organization exhibits higher: marketability. efficiency. sustainability. productivity. agility. - Agility Which of the following is a system in which low-skilled workers use specialized equipment to produce high volumes of standardized goods? Multiple Choice supply chain craft production the Internet lean systems mass production - mass production Two widely used metrics of v...

MGT 3332 - Operations Management Final Exam | 83 Questions And Answers

The greater the degree of customer involvement, the more challenging the design and management of operations. - Correct AnswersTrue- Greater customer involvement leads greater variation in the goods and services provided. This creates greater variation in production or service requirements and results in more complexity in the design and management of operations. Prior to the Industrial Revolution, goods were produced primarily by craftsmen or their apprentices using custom-made parts. - Cor...

Frederick Winslow Taylor - Correct AnswersFather of Scientific Management Maximizing output Workers did not like "increased output without increasing compensation" Scientific Management: observation, measurement, analysis, and improvements of work method Management should train, find the best way to perform jobs, achieving cooperation between management & workers, separate management activities from work activities Douglas McGregor - Correct AnswersTheory X and Y Theory X: Ne...