OM 300 EXAM 1 CHILCUTT(RATED A+)
Operations Management - ANSWERis the set of activities that create value in the
form of goods and services by transforming inputs into outputs
Production - ANSWERthe creation of goods and services( MEASURE OF OUTPUT
ONLY NOT EFFIENCY)
the base - ANSWER3 P's: people product process
The stuff - ANSWERquality management, inventory management, supply chain
managment
The place - ANSWERlocation and layout
The face - ANSWERthe schedule
Reasons to Globalize - ANSWERIMPROVE supply chain
REDUCE cost (labor, taxes, tariffs, etc.)
Improve operations
UNDERSTAND markets
Improve products
Attract and retain global talent
marketing - ANSWERgenerates sales
finance/ accounting - ANSWERtracks how well the organization is doing, pays bills,
collects the money
productivity - ANSWERis the ratio of outputs (goods and services) divided by the
inputs (resources such as labor and capital)
services - ANSWEREconomic activities that typically produce an intangible product
(such as education, entertainment, lodging, government, financial, and health
services)
manufacturers - ANSWERproduce tangible product, services often intangible
Priductivyt - ANSWERUNITS produced/ input used
Productivity - ANSWERmeasure of process improvement, represents output relative
to input, only through productivity increase can the standard of living improve
Operations Management - ANSWERis the set of activities that create value in the
form of goods and services by transforming inputs into outputs
Production - ANSWERthe creation of goods and services( MEASURE OF OUTPUT
ONLY NOT EFFIENCY)
the base - ANSWER3 P's: people product process
The stuff - ANSWERquality management, inventory management, supply chain
managment
The place - ANSWERlocation and layout
The face - ANSWERthe schedule
Reasons to Globalize - ANSWERIMPROVE supply chain
REDUCE cost (labor, taxes, tariffs, etc.)
Improve operations
UNDERSTAND markets
Improve products
Attract and retain global talent
marketing - ANSWERgenerates sales
finance/ accounting - ANSWERtracks how well the organization is doing, pays bills,
collects the money
productivity - ANSWERis the ratio of outputs (goods and services) divided by the
inputs (resources such as labor and capital)
services - ANSWEREconomic activities that typically produce an intangible product
(such as education, entertainment, lodging, government, financial, and health
services)
manufacturers - ANSWERproduce tangible product, services often intangible
Priductivyt - ANSWERUNITS produced/ input used
Productivity - ANSWERmeasure of process improvement, represents output relative
to input, only through productivity increase can the standard of living improve
