MANGT 421 ANSWERS AND QUESTIONS SET A+
✔✔recycling - ✔✔recovering materials for future use
✔✔design for recycling - ✔✔Product design that takes into account the ability to
disassemble a used product to recover the recyclable parts
✔✔bill of material - ✔✔lists the components of a product
✔✔ Production - ✔✔creation of goods and services
✔✔Operations management - ✔✔set of activities that create value in the form of goods
and services by transforming inputs into outputs
✔✔Essential Functions to produce goods and services - ✔✔1.) marketing - creates the
demand
2.) production/operation - creates the product
3.) Finance/accounting - tracks how the organization is doing
✔✔Supply Chain - ✔✔- global network of organizations and activities that supply a firm
with goods and services
✔✔Operations for Goods/Services - ✔✔- manufacturers produce tangible product;
services often intangible
- operation activities often very similar
- distinction not always clear
- few pure services
✔✔Productivity - ✔✔ratio of outputs/inputs; objective is to improve productivity
- measure of process improvement
- represents output to input
✔✔Important Note - ✔✔Production is a measure of output only and not a measure of
efficiency
✔✔recycling - ✔✔recovering materials for future use
✔✔design for recycling - ✔✔Product design that takes into account the ability to
disassemble a used product to recover the recyclable parts
✔✔bill of material - ✔✔lists the components of a product
✔✔ Production - ✔✔creation of goods and services
✔✔Operations management - ✔✔set of activities that create value in the form of goods
and services by transforming inputs into outputs
✔✔Essential Functions to produce goods and services - ✔✔1.) marketing - creates the
demand
2.) production/operation - creates the product
3.) Finance/accounting - tracks how the organization is doing
✔✔Supply Chain - ✔✔- global network of organizations and activities that supply a firm
with goods and services
✔✔Operations for Goods/Services - ✔✔- manufacturers produce tangible product;
services often intangible
- operation activities often very similar
- distinction not always clear
- few pure services
✔✔Productivity - ✔✔ratio of outputs/inputs; objective is to improve productivity
- measure of process improvement
- represents output to input
✔✔Important Note - ✔✔Production is a measure of output only and not a measure of
efficiency
