GMS401 TEST 1 Questions and All Correct Answers 2026 Updated.

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 organizations perform 3 functions to create goods and services - Answer 1. marketing 2. production/operations 3. finance/accounting supply chain - Answer a global network of organizations and activities that supplies a firm with goods and services we study OM for 4 reasons - Answer 1. to learn how people organize themselves for productive enterprise 2. to learn how goods and services are produced 3. to understand what operations managers do 4. because OM is a costly part of an organization services - Answer economic activities that typically produce an intangible product service sector - Answer the segment of the economy that includes trade, finance, lodging, education, law and medicine management process - Answer the application of planning, organizing, staffing, leading, and controlling to achieve objectives 10 OM decisions - Answer 1. Design of goods and services 2. Managing quality 3. Process strategy 4. Location strategies 5. Layout strategies 6. Human resources 7. Supply-chain management 8. Inventory management 9. Scheduling 10. Maintenance 5 eras - Answer early concepts: labor specialization scientific management: Gantt charts mass production: assem