QUESTIONS AND DETAILED VERIFIED SOLUTIONS|GRADED
What is operations management? - ANSWER the set of activities that creates value in the
form of goods and services by transforming inputs into outputs
What are the three essential functions of an organization? - ANSWER 1. Marketing
2. Finance/Accounting
3. Production/Operations
What is the supply chain? - ANSWER a global network of organizations and activities that
supplies a firm with goods and services
What are the 10 strategic OM decisions? - ANSWER 1. Design of goods and services
2. Managing quality and statistical process control
3. Process and capacity strategies
4. Location strategies
5. Layout strategies
6. Human resources, job design and work measurement
7. Supply chain management
8. Inventory management
9. Scheduling
10. Maintenance
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What types of decisions do Operation Managers make? - ANSWER The Base: People,
Product Process
1
, The Place: Location, Layout
The Stuff: Quality Management, Inventory Management, Supply Chain Management
The Face: Scheduling, Maintenance
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What is the difference between goods and services? - ANSWER Goods are tangible and
services are intangible
What is productivity? - ANSWER the ratio of outputs (goods and services) divided by the
inputs (resources such as labor and capital)
[Ratio of outputs / inputs]
How is productivity used in the service sector? - ANSWER Productivity is hard in the
service sector bc service in intangible. It is hard to measure and different people have
different opinions/expectations.
What three factors affect productivity? - ANSWER 1. Quality
2. External elements
3. Precise units
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What is globalization? - ANSWER means customers, talent, and supplier are worldwide
What are four examples of companies that have globalized? - ANSWER 1. Boeing - they
are competitive bc both its sales and supply chain are world wide
2. Italy's Benetton - moves inventory to stores around the world faster than its competition
3. Sony - purchases components from a supply chain that extends to Thailand, Malaysia, and
other places around the world for assembly of its electronic products
2
What is operations management? - ANSWER the set of activities that creates value in the
form of goods and services by transforming inputs into outputs
What are the three essential functions of an organization? - ANSWER 1. Marketing
2. Finance/Accounting
3. Production/Operations
What is the supply chain? - ANSWER a global network of organizations and activities that
supplies a firm with goods and services
What are the 10 strategic OM decisions? - ANSWER 1. Design of goods and services
2. Managing quality and statistical process control
3. Process and capacity strategies
4. Location strategies
5. Layout strategies
6. Human resources, job design and work measurement
7. Supply chain management
8. Inventory management
9. Scheduling
10. Maintenance
PUT ON SHEET
What types of decisions do Operation Managers make? - ANSWER The Base: People,
Product Process
1
, The Place: Location, Layout
The Stuff: Quality Management, Inventory Management, Supply Chain Management
The Face: Scheduling, Maintenance
PUT ON SHEET
What is the difference between goods and services? - ANSWER Goods are tangible and
services are intangible
What is productivity? - ANSWER the ratio of outputs (goods and services) divided by the
inputs (resources such as labor and capital)
[Ratio of outputs / inputs]
How is productivity used in the service sector? - ANSWER Productivity is hard in the
service sector bc service in intangible. It is hard to measure and different people have
different opinions/expectations.
What three factors affect productivity? - ANSWER 1. Quality
2. External elements
3. Precise units
PUT ON SHEET
What is globalization? - ANSWER means customers, talent, and supplier are worldwide
What are four examples of companies that have globalized? - ANSWER 1. Boeing - they
are competitive bc both its sales and supply chain are world wide
2. Italy's Benetton - moves inventory to stores around the world faster than its competition
3. Sony - purchases components from a supply chain that extends to Thailand, Malaysia, and
other places around the world for assembly of its electronic products
2
