Mno2601 Operations Management Exam with a grade of A+ and verified solutions available

Three Functions all Organizations Have - ANS1. Marketing 2. Production/Operations 3. Finance/Accounting Supply Chain - ANSA global network of organizations & activities that supplies a firm with goods & services Ten Strategic OM Decisions - ANS1. Design of Goods & Services 2. Managing Quality 3. Process & Capacity Design 4. Location Strategy 5. Layout Strategy 6. Human Resources & Job Design 7. Supply-Chain Management 8. Inventory Management 9. Scheduling 10. Maintenance Services - ANSEconomic activities that typically produce an intangible product (such as education, entertainment, lodging, government, financial, & health services) Nine Characteristics of Services - ANS1. Intangible 2. Produced & consumed simultaneously 3. Unique 4. High customer interaction 5. Inconsistent product definition 6. Often knowledge based 7. Services dispersed 8. Quality may be hard to evaluate 9. Reselling is unusual Nine Characteristics of Goods - ANS1. Tangible 2. Product can usually be kept in inventory 3. Similar products produced 4. Limited customer involvement in production 5. Product standardized 6. Standard tangible product tends to make automation feasible 7. Product typically produced at a fixed facility 8. Many aspects of quality for tangible products are easy to evaluate 9. Product often has some residual value