OPMA 317 Midterm exam 2024 with 100% correct answers

Definition of Operations & Supply Chain Management - correct answer The design, operation, and improvement of the systems that deliver goods & services Operations - correct answer Manufacturing and service processes that transform inputs into outputs Supply Chain Management - correct answer Processes that move information and material to and from the operations processes where the transformation from inputs to outputs occurs The changing world of operations (4) - correct answer 1. Advances in technology (information, manufacturing, distribution) 2. Linking with customers and suppliers (outsourcing) 3. Global competition/global marketplace 4. Growth of the service sector Which factors have enabled the growth of the global marketplace? - correct answer 1. Technology 2. Newly industrialized countries 3. Transportation infrastructure 4. Free trade Throughput time - correct answer Processing time + delays = the total time from order processing to customer delivery Benefits of knowing the capacity of an operation - correct answer 1. Customer order promising; don't accept more orders than you can deliver 2. Pricing