OM 300 EXAM 1 CHILCUTT UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

OM 300 EXAM 1 CHILCUTT UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. What is Operations Management?
Answer:
the set of activities that create value in the form of goods and services by transforming inputs into outputs

Question:
2. Marketing (Essential Function)
Answer:
generates demand

Question:
3. Finance/Accounting (Essential Function)
Answer:
creates the product

Question:
4. Supply Chain
Answer:
A global network of organizations and activities that supply a firm with goods and services

Question:
5. Members of the Supply Chain
Answer:
collaborate to achieve high levels of customer satisfaction, efficiency, and competitive advantage

Question:
6. Why Study Operations Management?
Answer:
1. one of 3 major functions of any organization, we want to study how people organize themselves for
productive enterprise
2. We want (and need) to know how goods and services are produced
3. We want to understand what operations managers do
4. costly part of an organization

Question:
7. What Do Operations Managers Do?
Answer:
planning, organizing, staffing, leading, controlling

Question:
8. Strategic Operations Management Decisions - Base

, Answer:
people, product, process

Question:
9. Strategic Operations Management Decisions - Staff
Answer:
quality management, inventory management, supply chain management

Question:
10. Strategic Operations Management Decision - Place
Answer:
location, layout

Question:
11. Strategic Operations Management Decision
Answer:
Scheduling and Maintenance

Question:
12. Goods
Answer:
Manufacturers produce tangible products

Question:
13. Services
Answer:
Economic activities that typically produce an intangible product

Question:
14. Productivity Challenge
Answer:
Ratio of outputs divided by inputs

Question:
15. Productivity
Answer:
Measure of process improvement

Question:
16. Single-Factor Productivity
Answer:
Output levels relative to single input

Question:
17. Total Factor Productivity