10/30/25, 5:04 PM COB 300- Operations Final Exam questions and answers Flashcards | Quizlet
COB 300- Operations Final Exam questions and
answers
Save
Terms in this set (235)
Goods physical items produced by business organizations
activities that provide some combination of time,
Services
location, form and psychological value
the management of systems or processes that create
Operations Management
goods and or provide services
a sequence of activities and organizations involved in
Supply Chain
producing and delivering a good or service
the difference between the cost of inputs and the
Value-Added
value or price of outputs
Process one or more actions that transform inputs into outputs
the time between ordering a good or service and
Lead Time
receiving it
an abstraction of reality; a simplified representation of
Model
something
System a set of interrelated parts that must work together
a few factors account for a high percentage of the
Pareto Phenomenon
occurrence of some events
system in which highly skilled workers use simple,
Craft Production flexible tools to produce small quantities of
customized goods
https://quizlet.com/1100948286/cob-300-operations-final-exam-questions-and-answers-flash-cards/?new 1/8
, 10/30/25, 5:04 PM COB 300- Operations Final Exam questions and answers Flashcards | Quizlet
system in which low-skilled workers use specialized
Mass Production machinery to produce high volumes of standardized
goods
parts of a product made to such precision that they
Interchangeable Parts
do not have to be custom fitted
the breaking up of a production process into small
Division of Labor tasks, so that each worker performs a small portion of
the overall job
a process for reducing costs, improving quality and
Six Sigma
increasing customer satisfaction
the ability of an organization to respond quickly to
Agility
demands or opportunities
system that uses minimal amounts of resources to
Lean System produce a high volume of high quality goods with
some variety
using resources in ways that do not harm ecological
Sustainability
systems that support human existence
a standard of behavior that guides how one should
Ethics
act in various situations
a sequence of steps intended to guide thinking and
Ethical Framework
subsequent decision or action
buying goods or services instead of producing or
Outsourcing
providing them in house
how effectively an organization meets the wants and
Competitiveness needs of customers relative to others that offer similar
goods or services
Strategies plans for achieving organizational goals
the methods and actions take to accomplish
Tactics
strategies
the special attributes or abilities that give an
Core Competencies
organization a competitive edge
https://quizlet.com/1100948286/cob-300-operations-final-exam-questions-and-answers-flash-cards/?new 2/8
COB 300- Operations Final Exam questions and
answers
Save
Terms in this set (235)
Goods physical items produced by business organizations
activities that provide some combination of time,
Services
location, form and psychological value
the management of systems or processes that create
Operations Management
goods and or provide services
a sequence of activities and organizations involved in
Supply Chain
producing and delivering a good or service
the difference between the cost of inputs and the
Value-Added
value or price of outputs
Process one or more actions that transform inputs into outputs
the time between ordering a good or service and
Lead Time
receiving it
an abstraction of reality; a simplified representation of
Model
something
System a set of interrelated parts that must work together
a few factors account for a high percentage of the
Pareto Phenomenon
occurrence of some events
system in which highly skilled workers use simple,
Craft Production flexible tools to produce small quantities of
customized goods
https://quizlet.com/1100948286/cob-300-operations-final-exam-questions-and-answers-flash-cards/?new 1/8
, 10/30/25, 5:04 PM COB 300- Operations Final Exam questions and answers Flashcards | Quizlet
system in which low-skilled workers use specialized
Mass Production machinery to produce high volumes of standardized
goods
parts of a product made to such precision that they
Interchangeable Parts
do not have to be custom fitted
the breaking up of a production process into small
Division of Labor tasks, so that each worker performs a small portion of
the overall job
a process for reducing costs, improving quality and
Six Sigma
increasing customer satisfaction
the ability of an organization to respond quickly to
Agility
demands or opportunities
system that uses minimal amounts of resources to
Lean System produce a high volume of high quality goods with
some variety
using resources in ways that do not harm ecological
Sustainability
systems that support human existence
a standard of behavior that guides how one should
Ethics
act in various situations
a sequence of steps intended to guide thinking and
Ethical Framework
subsequent decision or action
buying goods or services instead of producing or
Outsourcing
providing them in house
how effectively an organization meets the wants and
Competitiveness needs of customers relative to others that offer similar
goods or services
Strategies plans for achieving organizational goals
the methods and actions take to accomplish
Tactics
strategies
the special attributes or abilities that give an
Core Competencies
organization a competitive edge
https://quizlet.com/1100948286/cob-300-operations-final-exam-questions-and-answers-flash-cards/?new 2/8
