BUAD 350 Business Analytics Exam 1-
Graded A
operations management - ANS-The management(design, operation, and improvement)
of systems or processes that create goods and/or provide services
Information System - ANS-a group of components that interact to produce information
Business Analytics - ANS-the overlapping part of Domain Knowledge, Applied
Mathematics, and Information Technology
Operations - ANS-the activities and processes used in making both tangible and
intangible products
organization chart - ANS-marketing, operations, finance
information flow - ANS-Overseeing order transmissions and delivery status updates
throughout the order-processing cycle
OM Decision Making - ANS-what, when, where, how, who
Strategic Decisions
Tactical Decisions
supply chain - ANS-Processes that move information and material to and from the firm
Supply Chain Management (SCM) - ANS-The management of information flows
between and among activities in a supply chain to maximize total supply chain
effectiveness and profitability
Broad range of activities required to plan, control and execute a product's flow, from
acquiring raw materials and production through distribution to the final customer, in the
most streamlined and cost-effective way possible.
Transformation Process - ANS-The process that converts resources into finished goods
and services
The Goods-Service Continuum - ANS-Products are typically neither purely service- or
purely goods-based.
, Pure Goods/Service
Core Goods/Service
Process Selection - ANS-deciding on the way production of goods or services will be
organized
Capacity Planning - ANS-Establishing the overall level of resources needed to meet
customer demand
Variety ( how much )
Equipment flexibility ( to what degree)
Volume ( expected output )
Process Types - ANS-job shop, batch, repetitive, continuous, project
Product-Process Matrix - ANS-a framework depicting when the different production
process types are typically used depending on product volume and how standardized
the product is
break-even analysis - ANS-a method of determining what sales volume must be
reached before total revenue equals total costs
The method is most suitable when
◦ processes and equipment entail a large initial
investment and fixed cost, and
◦ variable costs are reasonably proportional to the number of units produced.
Service System Design Matrix - ANS-A framework that relates to the customer service
system encounter
customer contact - ANS-the physical presence of the customer in the system to the
extent that impacts the system during the production process
Six Sigma - ANS-A business process for reducing cycle time and cost, reducing defects,
and increasing customer satisfaction
1. customer focused
2. projects produce major returns on investment
3. changes how management operates
1. A statistical measure of the performance of a process or a product
2. A goal that reaches near perfection for performance improvement
3. A system of management to achieve lasting business leader- ship and world-class
performance
sigma - ANS-population standard deviation
Graded A
operations management - ANS-The management(design, operation, and improvement)
of systems or processes that create goods and/or provide services
Information System - ANS-a group of components that interact to produce information
Business Analytics - ANS-the overlapping part of Domain Knowledge, Applied
Mathematics, and Information Technology
Operations - ANS-the activities and processes used in making both tangible and
intangible products
organization chart - ANS-marketing, operations, finance
information flow - ANS-Overseeing order transmissions and delivery status updates
throughout the order-processing cycle
OM Decision Making - ANS-what, when, where, how, who
Strategic Decisions
Tactical Decisions
supply chain - ANS-Processes that move information and material to and from the firm
Supply Chain Management (SCM) - ANS-The management of information flows
between and among activities in a supply chain to maximize total supply chain
effectiveness and profitability
Broad range of activities required to plan, control and execute a product's flow, from
acquiring raw materials and production through distribution to the final customer, in the
most streamlined and cost-effective way possible.
Transformation Process - ANS-The process that converts resources into finished goods
and services
The Goods-Service Continuum - ANS-Products are typically neither purely service- or
purely goods-based.
, Pure Goods/Service
Core Goods/Service
Process Selection - ANS-deciding on the way production of goods or services will be
organized
Capacity Planning - ANS-Establishing the overall level of resources needed to meet
customer demand
Variety ( how much )
Equipment flexibility ( to what degree)
Volume ( expected output )
Process Types - ANS-job shop, batch, repetitive, continuous, project
Product-Process Matrix - ANS-a framework depicting when the different production
process types are typically used depending on product volume and how standardized
the product is
break-even analysis - ANS-a method of determining what sales volume must be
reached before total revenue equals total costs
The method is most suitable when
◦ processes and equipment entail a large initial
investment and fixed cost, and
◦ variable costs are reasonably proportional to the number of units produced.
Service System Design Matrix - ANS-A framework that relates to the customer service
system encounter
customer contact - ANS-the physical presence of the customer in the system to the
extent that impacts the system during the production process
Six Sigma - ANS-A business process for reducing cycle time and cost, reducing defects,
and increasing customer satisfaction
1. customer focused
2. projects produce major returns on investment
3. changes how management operates
1. A statistical measure of the performance of a process or a product
2. A goal that reaches near perfection for performance improvement
3. A system of management to achieve lasting business leader- ship and world-class
performance
sigma - ANS-population standard deviation
