©SIRJOEL EXAM SOLUTIONS
11/3/2024 10:54 PM
OPRE 3310: Operations Management Exam
Study Guide.
Operations Management (OM) - answer✔how best to provide the goods and services the
customer or client wants
- Design, implementing key process, managing necessary input and resources
Tradition vs Modern OM - answer✔Traditional: Production planning, scheduling, inventory
management, warehouse,...
Modern: Study of business process, concerns both *manufacturing and service* industries
Trend: Changed from purely tactical to more strategic
Matching Supply and Demand - answer✔Capacity utilization is crucial for profitability.
However, supply and demand matching is tough:
, ©SIRJOEL EXAM SOLUTIONS
11/3/2024 10:54 PM
1) "Invisible Hand" > Automatic Matching
2) To managers: Excess Supply = wasted resources. Excess Demand = lost revenue
Ex: Walmart empty shelf > Walmart failed to predict demand
OM affect on business function - answer✔1) Marketing: Disney overload because of ads
2) Accounting: What to buy, strategy to use
Process View of Organizations - answer✔Input: Raw mat, customers >>>
Transformation Process/ Resources: labor and capital >>>
Output: Good and Service
Note: Process depends on the perspective you take
Operation Management - answer✔the management (design, operation, and improvement) of the
transformation processes that create value for society
Strategic Role of OM - answer✔OM can be Competitive Weapon or Corporate Millstone.
Ex of Competitive Weapon: South West
11/3/2024 10:54 PM
OPRE 3310: Operations Management Exam
Study Guide.
Operations Management (OM) - answer✔how best to provide the goods and services the
customer or client wants
- Design, implementing key process, managing necessary input and resources
Tradition vs Modern OM - answer✔Traditional: Production planning, scheduling, inventory
management, warehouse,...
Modern: Study of business process, concerns both *manufacturing and service* industries
Trend: Changed from purely tactical to more strategic
Matching Supply and Demand - answer✔Capacity utilization is crucial for profitability.
However, supply and demand matching is tough:
, ©SIRJOEL EXAM SOLUTIONS
11/3/2024 10:54 PM
1) "Invisible Hand" > Automatic Matching
2) To managers: Excess Supply = wasted resources. Excess Demand = lost revenue
Ex: Walmart empty shelf > Walmart failed to predict demand
OM affect on business function - answer✔1) Marketing: Disney overload because of ads
2) Accounting: What to buy, strategy to use
Process View of Organizations - answer✔Input: Raw mat, customers >>>
Transformation Process/ Resources: labor and capital >>>
Output: Good and Service
Note: Process depends on the perspective you take
Operation Management - answer✔the management (design, operation, and improvement) of the
transformation processes that create value for society
Strategic Role of OM - answer✔OM can be Competitive Weapon or Corporate Millstone.
Ex of Competitive Weapon: South West
