ECU OMGT 3123 Exam 1 Study Guide | Operations and Supply Chain Management Review,
Practice Questions & Key Concepts
define Operations Management - ANS ✔✔Involves "the planning, scheduling, and control of the
activities that transform inputs into finished goods and services"
Define Supply chain management - ANS ✔✔is the "Active management of supply chain
activities and relationships to maximize customer value and achieve a sustainable competitive
advantage.
-The conscious effort to manage the supply chain in the most efficient and effective ways
possible"
goods vs services - ANS ✔✔goods- tangible product. "Hows it manufactured, stored, moved
throughout the plant"
service- Intangible. "how much customer involvement, how much customization, types of
knowledge"
supply chain flows - ANS ✔✔Raw materials/ Supplier management -> Production and
operations -> Finished goods/customer service.
UPSTREAM & DOWNSTREAM
supply chain issues - ANS ✔✔-Length of the supply chain(geo, # of parts, # of
suppliers/customers)
-Complexity
-Stability
-Competitors
trends in operation management - ANS ✔✔Technology
, Risk Management
Relationship Management and Collaboration
Environmental and Social responsibility
Globalization and interconnectedness
Greater emphasis on analytics
Renewed efforts to be more efficient and improve revenue.
Job growth
trends in supply chain - ANS ✔✔Technology
Risk Management
Relationship Management and Collaboration
Environmental and Social responsibility
Globalization and interconnectedness
Greater emphasis on analytics
Renewed efforts to be more efficient and improve revenue.
Job growth
what is strategy - ANS ✔✔a set of carefully selected and integrated business priorities/plans to
achieve the objectives of the firm
top down model of strategy - ANS ✔✔mission statement -> Business strategy => operations and
supply chain strategies, other functional strategies
components of top down model of strategy - ANS ✔✔
efficiency trade-offs - ANS ✔✔Quality vs. Cost , high quality = high cost
Practice Questions & Key Concepts
define Operations Management - ANS ✔✔Involves "the planning, scheduling, and control of the
activities that transform inputs into finished goods and services"
Define Supply chain management - ANS ✔✔is the "Active management of supply chain
activities and relationships to maximize customer value and achieve a sustainable competitive
advantage.
-The conscious effort to manage the supply chain in the most efficient and effective ways
possible"
goods vs services - ANS ✔✔goods- tangible product. "Hows it manufactured, stored, moved
throughout the plant"
service- Intangible. "how much customer involvement, how much customization, types of
knowledge"
supply chain flows - ANS ✔✔Raw materials/ Supplier management -> Production and
operations -> Finished goods/customer service.
UPSTREAM & DOWNSTREAM
supply chain issues - ANS ✔✔-Length of the supply chain(geo, # of parts, # of
suppliers/customers)
-Complexity
-Stability
-Competitors
trends in operation management - ANS ✔✔Technology
, Risk Management
Relationship Management and Collaboration
Environmental and Social responsibility
Globalization and interconnectedness
Greater emphasis on analytics
Renewed efforts to be more efficient and improve revenue.
Job growth
trends in supply chain - ANS ✔✔Technology
Risk Management
Relationship Management and Collaboration
Environmental and Social responsibility
Globalization and interconnectedness
Greater emphasis on analytics
Renewed efforts to be more efficient and improve revenue.
Job growth
what is strategy - ANS ✔✔a set of carefully selected and integrated business priorities/plans to
achieve the objectives of the firm
top down model of strategy - ANS ✔✔mission statement -> Business strategy => operations and
supply chain strategies, other functional strategies
components of top down model of strategy - ANS ✔✔
efficiency trade-offs - ANS ✔✔Quality vs. Cost , high quality = high cost
