Chapter 1 -OPRE 3310- Exam 1 D. Parks || 100% Valid Solutions.
system correct answers a set of interrelated elements or parts that function as a whole
Model correct answers an abstraction of reality; a simplification of something
- simplifications of real-life phenomena
-They omit unimportant details of the real-life systems they mimic so that attention can be
focused on the most important aspects of the real-life system
Operations correct answers the part of a business organization that is responsible for producing
goods or services
Operations Management correct answers the management of systems of processes that create
goods and/or provide services
Goods correct answers are physical items that include raw materials, parts, subassemblies, and
final products
Services correct answers are activities that provide some combination of time, location, form or
psychological value
Supply Chain correct answers a sequence of activities and organizations involved in producing
and delivering a good or service
The Transformation Process correct answers inputs into outputs through measurement and
feedback and control
Feedback correct answers measurements are taken at various points in the transformation process
, Control correct answers the comparison of feedback against previously established standards to
determine if corrective action is needed
Goods-Service Continuum correct answers products are typically neither purely service- or
purely goods- based.
Manufacturing vs. Service correct answers 1. degree of customer contact
2. uniformity of input
3. labor content of jobs
4. uniformity of output
5.measurement of productivity
6 production and delivery
7 quality assurance
8 amount of inventory
9 evaluation of work
10 ability to patent design
Basic Functions of the Business Organization correct answers Marketing, Operations, Finance
Finance & Operations correct answers -Budgeting, -Economic analysis of investment proposal
-provision of funds
Marketing and Operations correct answers -Demand Data
- Product and Service Design
- Competitor analysis
-Lead time data
Process Management correct answers one or more actions that transform inputs into outputs
system correct answers a set of interrelated elements or parts that function as a whole
Model correct answers an abstraction of reality; a simplification of something
- simplifications of real-life phenomena
-They omit unimportant details of the real-life systems they mimic so that attention can be
focused on the most important aspects of the real-life system
Operations correct answers the part of a business organization that is responsible for producing
goods or services
Operations Management correct answers the management of systems of processes that create
goods and/or provide services
Goods correct answers are physical items that include raw materials, parts, subassemblies, and
final products
Services correct answers are activities that provide some combination of time, location, form or
psychological value
Supply Chain correct answers a sequence of activities and organizations involved in producing
and delivering a good or service
The Transformation Process correct answers inputs into outputs through measurement and
feedback and control
Feedback correct answers measurements are taken at various points in the transformation process
, Control correct answers the comparison of feedback against previously established standards to
determine if corrective action is needed
Goods-Service Continuum correct answers products are typically neither purely service- or
purely goods- based.
Manufacturing vs. Service correct answers 1. degree of customer contact
2. uniformity of input
3. labor content of jobs
4. uniformity of output
5.measurement of productivity
6 production and delivery
7 quality assurance
8 amount of inventory
9 evaluation of work
10 ability to patent design
Basic Functions of the Business Organization correct answers Marketing, Operations, Finance
Finance & Operations correct answers -Budgeting, -Economic analysis of investment proposal
-provision of funds
Marketing and Operations correct answers -Demand Data
- Product and Service Design
- Competitor analysis
-Lead time data
Process Management correct answers one or more actions that transform inputs into outputs
