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OPRE 3310: Operations Management Exam Study Guide.

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OPRE 3310: Operations Management Exam Study Guide. Operations Management (OM) - answerhow best to provide the goods and services the customer or client wants - Design, implementing key process, managing necessary input and resources Tradition vs Modern OM - answerTraditional: Production planning, scheduling, inventory management, warehouse,... Modern: Study of business process, concerns both *manufacturing and service* industries Trend: Changed from purely tactical to more strategic Matching Supply and Demand - answerCapacity utilization is crucial for profitability. However, supply and demand matching is tough: ©SIRJOEL EXAM SOLUTIONS 11/3/2024 10:54 PM 1) "Invisible Hand" Automatic Matching 2) To managers: Excess Supply = wasted resources. Excess Demand = lost revenue Ex: Walmart empty shelf Walmart failed to predict demand OM affect on business function - answer1) Marketing: Disney overload because of ads 2) Accounting: What to buy, strategy to use Process View of Organizations - answerInput: Raw mat, customers Transformation Process/ Resources: labor and capital Output: Good and Service Note: Process depends on the perspective you take Operation Management - answerthe management (design, operation, and improvement) of the transformation processes that create value for society Strategic Role of OM - answerOM can be Competitive Weapon or Corporate Millstone. Ex of Competitive Weapon: South West

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©SIRJOEL EXAM SOLUTIONS
11/3/2024 10:54 PM



OPRE 3310: Operations Management Exam
Study Guide.




Operations Management (OM) - answer✔how best to provide the goods and services the

customer or client wants




- Design, implementing key process, managing necessary input and resources


Tradition vs Modern OM - answer✔Traditional: Production planning, scheduling, inventory

management, warehouse,...




Modern: Study of business process, concerns both *manufacturing and service* industries




Trend: Changed from purely tactical to more strategic


Matching Supply and Demand - answer✔Capacity utilization is crucial for profitability.

However, supply and demand matching is tough:

, ©SIRJOEL EXAM SOLUTIONS
11/3/2024 10:54 PM


1) "Invisible Hand" > Automatic Matching

2) To managers: Excess Supply = wasted resources. Excess Demand = lost revenue




Ex: Walmart empty shelf > Walmart failed to predict demand


OM affect on business function - answer✔1) Marketing: Disney overload because of ads


2) Accounting: What to buy, strategy to use


Process View of Organizations - answer✔Input: Raw mat, customers >>>


Transformation Process/ Resources: labor and capital >>>

Output: Good and Service




Note: Process depends on the perspective you take


Operation Management - answer✔the management (design, operation, and improvement) of the

transformation processes that create value for society


Strategic Role of OM - answer✔OM can be Competitive Weapon or Corporate Millstone.




Ex of Competitive Weapon: South West

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