OPMA 3306 Test One Study Guide with
correct answers latest update
What is Operations and Supply Chain Management? - correct answer ✔✔The
design, operation, and improvement of the systems that create and delivery the
firm's primary products and services.
What is Operations and Supply Chain Management (OSCM)? - correct answer
✔✔1. A functional field of business
2. Concerned with the management of the entire production/delivery system
Operations - correct answer ✔✔Manufacturing and service processes used to
transform resources into products.
Supply Chain - correct answer ✔✔Processes that move information and material
to and from the firm.
OSCM: The Core - Organization - correct answer ✔✔Section 1: Strategy and
Analytics
Section 2: Manufacturing & Service Process & Analytics.
Section 3: Supply Chain Processes and Analytics.
Efficiency - correct answer ✔✔Doing something at the lowest possible cost.
, Effectiveness - correct answer ✔✔Doing the right things to create the most value
for your customer.
Value - correct answer ✔✔The attractiveness of a product relative to its cost.
Planning - correct answer ✔✔Processes needed to operate an existing supply
chain.
Sourcing - correct answer ✔✔Selection of suppliers that will deliver the goods and
services needed to create the firm's product.
Making - correct answer ✔✔Producing the major product or service.
Delivering - correct answer ✔✔Logistics processes such as selecting carriers,
coordinating the movement of goods and information, and collecting payments
from customers.
Returning - correct answer ✔✔Receiving worn-out, excess, and/or defective
products back from customers.
Pure Goods - correct answer ✔✔Tangible, less interaction with customers. Ex: is
salt mine, publishing.
Pure Services - correct answer ✔✔Intangible, interaction with customer required.
Ex: is spa's, legal services, teaching.
Core Services - correct answer ✔✔Example is full service restaurant.
correct answers latest update
What is Operations and Supply Chain Management? - correct answer ✔✔The
design, operation, and improvement of the systems that create and delivery the
firm's primary products and services.
What is Operations and Supply Chain Management (OSCM)? - correct answer
✔✔1. A functional field of business
2. Concerned with the management of the entire production/delivery system
Operations - correct answer ✔✔Manufacturing and service processes used to
transform resources into products.
Supply Chain - correct answer ✔✔Processes that move information and material
to and from the firm.
OSCM: The Core - Organization - correct answer ✔✔Section 1: Strategy and
Analytics
Section 2: Manufacturing & Service Process & Analytics.
Section 3: Supply Chain Processes and Analytics.
Efficiency - correct answer ✔✔Doing something at the lowest possible cost.
, Effectiveness - correct answer ✔✔Doing the right things to create the most value
for your customer.
Value - correct answer ✔✔The attractiveness of a product relative to its cost.
Planning - correct answer ✔✔Processes needed to operate an existing supply
chain.
Sourcing - correct answer ✔✔Selection of suppliers that will deliver the goods and
services needed to create the firm's product.
Making - correct answer ✔✔Producing the major product or service.
Delivering - correct answer ✔✔Logistics processes such as selecting carriers,
coordinating the movement of goods and information, and collecting payments
from customers.
Returning - correct answer ✔✔Receiving worn-out, excess, and/or defective
products back from customers.
Pure Goods - correct answer ✔✔Tangible, less interaction with customers. Ex: is
salt mine, publishing.
Pure Services - correct answer ✔✔Intangible, interaction with customer required.
Ex: is spa's, legal services, teaching.
Core Services - correct answer ✔✔Example is full service restaurant.
