OM 300 Exam 1
Question 1.
The creation of goods and services, output ONLY not a measure of efficiency
ANSWER
Production
Question 2.
The set of activities that create value in the form of goods and services by transforming inputs into outputs. NOT JUST
MANUFACTURING!!!
ANSWER
Operations Management (OM)
Question 3.
Marketing, finance/accounting, production/operations
ANSWER
Essential functions of a business
Question 4.
A global network of organizations and activities that supply a firm with goods and services, members collaborate to achieve high
levels of customer satisfaction, efficiency, and competitive advantage. EVERY HAND THAT TOUCHES PRODUCT
ANSWER
The supply chain
Question 5.
The base: people, product, process. The stuff: quality, inventory, supply chain management. The place: location and layout. The face:
scheduling and maintenance
ANSWER
10 OM Decisions
Question 6.
Manufacturers produce tangible products
ANSWER
Goods
Question 7.
Economic activities that typically produce an intangible product (education, entertainment, lodging, etc)
ANSWER
Services
, Question 8.
the ratio of outputs (goods and services) divided by the inputs (resources such as labor/capital). WANT TO IMPROVE/MAXIMIZE to
improve standard of living
ANSWER
Productivity
Question 9.
Output / Labor + Material + Energy + Capital + Miscellaneous; often expressed in dollars, total factor productivity
ANSWER
Multi-Factor Productivity
Question 10.
Quality may change while the quantity of inputs and outputs remains constant, External elements may cause an increase/decrease in
productivity, Precise units of measure may be lacking
ANSWER
Measurement problems
Question 11.
Management contributes the most increase (52%), capital contributes 38% annual increase, labor contributes only 10%
ANSWER
Productivity variables
Question 12.
Typically labor intensive, frequently focused on unique individual attributes or desires, often an intellectual task performed by
professionals, often difficult to mechanize/automate, difficult to evaluate for quality
ANSWER
Productivity improvement is difficult in services because of 5 factors
Question 13.
Develop and produce safe, high-quality green products, Train, retrain, and motivate employees in a safe workplace, Honor
stakeholder commitments
ANSWER
Challenges facing operations managers
Question 14.
provide boundaries and focus for organizations and the concept around which the firm can rally (the companys "why")
ANSWER
Mission statements
, Question 15.
an organization's action plan to achieve the mission, "how are you going to get there?"
ANSWER
Strategy
Question 16.
differentiation, cost leadership, response...all 3? very competitive!
ANSWER
Strategies for competitive advantage
Question 17.
better/different, uniqueness goes beyond physical and service attributes everything that impacts a customer's perception. experience
differentiation, 5 senses to experience the product
ANSWER
Differentiation
Question 18.
cheaper, provide the maximum value as perceived by the customer, doesn't imply low value.
ANSWER
Cost leadership
Question 19.
Flexibilitymatching market changes in design innovation and volumes. Reliabilitymeeting schedules. Timelinessquickness in design,
production, and delivery
ANSWER
Response
Question 20.
The stages through which goods and services move from the time they are introduced on the market until they are taken off the
market. Intro, growth, maturity, decline
ANSWER
Product life cycle
Question 21.
transferring activities that traditionally have been internal to external suppliers, get someone better to do something for you
ANSWER
Outsourcing
Question 1.
The creation of goods and services, output ONLY not a measure of efficiency
ANSWER
Production
Question 2.
The set of activities that create value in the form of goods and services by transforming inputs into outputs. NOT JUST
MANUFACTURING!!!
ANSWER
Operations Management (OM)
Question 3.
Marketing, finance/accounting, production/operations
ANSWER
Essential functions of a business
Question 4.
A global network of organizations and activities that supply a firm with goods and services, members collaborate to achieve high
levels of customer satisfaction, efficiency, and competitive advantage. EVERY HAND THAT TOUCHES PRODUCT
ANSWER
The supply chain
Question 5.
The base: people, product, process. The stuff: quality, inventory, supply chain management. The place: location and layout. The face:
scheduling and maintenance
ANSWER
10 OM Decisions
Question 6.
Manufacturers produce tangible products
ANSWER
Goods
Question 7.
Economic activities that typically produce an intangible product (education, entertainment, lodging, etc)
ANSWER
Services
, Question 8.
the ratio of outputs (goods and services) divided by the inputs (resources such as labor/capital). WANT TO IMPROVE/MAXIMIZE to
improve standard of living
ANSWER
Productivity
Question 9.
Output / Labor + Material + Energy + Capital + Miscellaneous; often expressed in dollars, total factor productivity
ANSWER
Multi-Factor Productivity
Question 10.
Quality may change while the quantity of inputs and outputs remains constant, External elements may cause an increase/decrease in
productivity, Precise units of measure may be lacking
ANSWER
Measurement problems
Question 11.
Management contributes the most increase (52%), capital contributes 38% annual increase, labor contributes only 10%
ANSWER
Productivity variables
Question 12.
Typically labor intensive, frequently focused on unique individual attributes or desires, often an intellectual task performed by
professionals, often difficult to mechanize/automate, difficult to evaluate for quality
ANSWER
Productivity improvement is difficult in services because of 5 factors
Question 13.
Develop and produce safe, high-quality green products, Train, retrain, and motivate employees in a safe workplace, Honor
stakeholder commitments
ANSWER
Challenges facing operations managers
Question 14.
provide boundaries and focus for organizations and the concept around which the firm can rally (the companys "why")
ANSWER
Mission statements
, Question 15.
an organization's action plan to achieve the mission, "how are you going to get there?"
ANSWER
Strategy
Question 16.
differentiation, cost leadership, response...all 3? very competitive!
ANSWER
Strategies for competitive advantage
Question 17.
better/different, uniqueness goes beyond physical and service attributes everything that impacts a customer's perception. experience
differentiation, 5 senses to experience the product
ANSWER
Differentiation
Question 18.
cheaper, provide the maximum value as perceived by the customer, doesn't imply low value.
ANSWER
Cost leadership
Question 19.
Flexibilitymatching market changes in design innovation and volumes. Reliabilitymeeting schedules. Timelinessquickness in design,
production, and delivery
ANSWER
Response
Question 20.
The stages through which goods and services move from the time they are introduced on the market until they are taken off the
market. Intro, growth, maturity, decline
ANSWER
Product life cycle
Question 21.
transferring activities that traditionally have been internal to external suppliers, get someone better to do something for you
ANSWER
Outsourcing
