MGSC 395 Exam 1 University of South
Carolina
Big three areas chart - CORRECT ANSWER-Finance--> Material and Service
Input-->Operations--> Product and Service Outputs-->Marketing--> Sales
revenue--> back to finance
Finance - CORRECT ANSWER-Acquires financial resources and capital for
inputs
Operations - CORRECT ANSWER-Translates materials and services into
outputs
Marketing - CORRECT ANSWER-Generates sales of outputs
Support Functions - CORRECT ANSWER--Accounting
-Information Systems
-Human Resources
-Engineering
Process (Inputs-->Process-->Output) - CORRECT ANSWER-Any activity or
group of activities that takes one or more inputs, transforms them, and provides
one or more outputs for its customers
Operation (Parts of all the processes) - CORRECT ANSWER-A group of
resources performing all or part of one or more processes
What is a supply chain? - CORRECT ANSWER-An interrelated series of
processes within and across firms that produces a service or product to the
satisfaction of customers
External-->Internal-->Customers
,Suppliers and Customers - CORRECT ANSWER-can be internal or external - to
help with employee involvement and to better understand internal process
performance.
Every process and every person in the organization has customers
External customers
Internal customers
Every process and every person in the organization relies on suppliers
External suppliers
Internal suppliers
What type of information should a manager know? - CORRECT
ANSWER-On-time delivery
Schedule performance
In full delivery
Number of defects delivered
Internal quality performance
Cost
What are the two things that differentiate Service and Manufacturing Process? -
CORRECT ANSWER-1. Nature of Output
2. Degree of Customer Contact
More like a manufacturing process - CORRECT ANSWER-Physical, durable
output
Output can be inventoried
Low customer contact
Long response time
Capital intensive
Quality easily measured
More like a service process - CORRECT ANSWER-Intangible, perishable output
Output cannot be inventoried
High customer contact
Short response time
Labor intensive
,Quality not easily measured
Competitive Priorities in Operations Strategy (where you are headed) -
CORRECT ANSWER-Cost
Quality
Time
Flexibility
Competitive Capabilities in Operations Strategy (where we are today/what can
you do now) - CORRECT ANSWER-Current
Neededterm-13
Planned
Order Qualifiers - CORRECT ANSWER-Minimum level required from a set of
criteria for a firm to do business in a particular market segment.
Order Winners - CORRECT ANSWER-a criterion customers use to differentiate
the services or products of one firm from those of another
Measuring Productivity - CORRECT ANSWER-Productivity= Output/Input
What gets measured and how its measured drives the organization
The role of management - CORRECT ANSWER-Understand implications of
metrics and drive organizational improvement
Late Productivity - CORRECT ANSWER-Policies processed/employee hours
Multifactor Productivity Equation - CORRECT ANSWER-values of output/labor
cost+material cost+overhead cost
Break-even quantity - CORRECT ANSWER-The volume at which total revenues
equal total costs.
Break-even analysis - CORRECT ANSWER-Quantitative analysis to compare
processes by finding the volume at which two different processes have equal
total costs.
, Fb
The fixed cost (per year) of the buy option
Fm
The fixed cost of the make option
cb
The variable cost (per unit) of the buy option
cm
The variable cost of the make option - CORRECT ANSWER-
Back Office - CORRECT ANSWER-Low customer interaction
Standard processes
Ex: Insurance claim processing
Front Office - CORRECT ANSWER-High customer interaction
Flexible or individualized processes
Ex: Professional Services
(Hybrid office if a medium of both front and back)
Continuous Flow Process - CORRECT ANSWER-Low customer interaction
Standard processes
Ex: Consumer Products
Job Process - CORRECT ANSWER-Low Volume
Made to customer order
Flexible or unique processes
Ex: Customized Products
Production and Inventory Strategies - CORRECT ANSWER-Design-to-Order
Make-to-Order
Assemble-to-Order
Postponement
Mass Customization
Carolina
Big three areas chart - CORRECT ANSWER-Finance--> Material and Service
Input-->Operations--> Product and Service Outputs-->Marketing--> Sales
revenue--> back to finance
Finance - CORRECT ANSWER-Acquires financial resources and capital for
inputs
Operations - CORRECT ANSWER-Translates materials and services into
outputs
Marketing - CORRECT ANSWER-Generates sales of outputs
Support Functions - CORRECT ANSWER--Accounting
-Information Systems
-Human Resources
-Engineering
Process (Inputs-->Process-->Output) - CORRECT ANSWER-Any activity or
group of activities that takes one or more inputs, transforms them, and provides
one or more outputs for its customers
Operation (Parts of all the processes) - CORRECT ANSWER-A group of
resources performing all or part of one or more processes
What is a supply chain? - CORRECT ANSWER-An interrelated series of
processes within and across firms that produces a service or product to the
satisfaction of customers
External-->Internal-->Customers
,Suppliers and Customers - CORRECT ANSWER-can be internal or external - to
help with employee involvement and to better understand internal process
performance.
Every process and every person in the organization has customers
External customers
Internal customers
Every process and every person in the organization relies on suppliers
External suppliers
Internal suppliers
What type of information should a manager know? - CORRECT
ANSWER-On-time delivery
Schedule performance
In full delivery
Number of defects delivered
Internal quality performance
Cost
What are the two things that differentiate Service and Manufacturing Process? -
CORRECT ANSWER-1. Nature of Output
2. Degree of Customer Contact
More like a manufacturing process - CORRECT ANSWER-Physical, durable
output
Output can be inventoried
Low customer contact
Long response time
Capital intensive
Quality easily measured
More like a service process - CORRECT ANSWER-Intangible, perishable output
Output cannot be inventoried
High customer contact
Short response time
Labor intensive
,Quality not easily measured
Competitive Priorities in Operations Strategy (where you are headed) -
CORRECT ANSWER-Cost
Quality
Time
Flexibility
Competitive Capabilities in Operations Strategy (where we are today/what can
you do now) - CORRECT ANSWER-Current
Neededterm-13
Planned
Order Qualifiers - CORRECT ANSWER-Minimum level required from a set of
criteria for a firm to do business in a particular market segment.
Order Winners - CORRECT ANSWER-a criterion customers use to differentiate
the services or products of one firm from those of another
Measuring Productivity - CORRECT ANSWER-Productivity= Output/Input
What gets measured and how its measured drives the organization
The role of management - CORRECT ANSWER-Understand implications of
metrics and drive organizational improvement
Late Productivity - CORRECT ANSWER-Policies processed/employee hours
Multifactor Productivity Equation - CORRECT ANSWER-values of output/labor
cost+material cost+overhead cost
Break-even quantity - CORRECT ANSWER-The volume at which total revenues
equal total costs.
Break-even analysis - CORRECT ANSWER-Quantitative analysis to compare
processes by finding the volume at which two different processes have equal
total costs.
, Fb
The fixed cost (per year) of the buy option
Fm
The fixed cost of the make option
cb
The variable cost (per unit) of the buy option
cm
The variable cost of the make option - CORRECT ANSWER-
Back Office - CORRECT ANSWER-Low customer interaction
Standard processes
Ex: Insurance claim processing
Front Office - CORRECT ANSWER-High customer interaction
Flexible or individualized processes
Ex: Professional Services
(Hybrid office if a medium of both front and back)
Continuous Flow Process - CORRECT ANSWER-Low customer interaction
Standard processes
Ex: Consumer Products
Job Process - CORRECT ANSWER-Low Volume
Made to customer order
Flexible or unique processes
Ex: Customized Products
Production and Inventory Strategies - CORRECT ANSWER-Design-to-Order
Make-to-Order
Assemble-to-Order
Postponement
Mass Customization
