ISOM 351 EXAM 1 (BSU)CORRECT
100%
Operations Management - ANSWERthe systematic design, direction, and control of
processes that transform inputs into services and products for internal, as well as
external, customers
Process - ANSWERany activity or group of activites that takes one or more inputs,
transforms them, and provides one or more outputs for its customers
Operation - ANSWERa group of resources performing all or part of one or more
processes
Supply Chain - ANSWERAn interrelated series of processes within and across firms
that produces a service or product to the satisfaction of customers
Supply Chain Management - ANSWERthe synchronization of a firm's processes with
those of its suppliers and customers to match teh flow of materials, services, and
information with customer demand
External lCustomers - ANSWERa customer who is either an end user or an
intermediary (manufacturers, financial, institutions, or retailers) buying the firm's finished
services or products
Internal Customers - ANSWEROne or more employees or processes that rely on inputs
from other employees or processes in order to perform their work
External Supplies - ANSWERthe businesses or individuals who provide the resources,
services, products, an dmaterials for the firm's short-term and long-term needs
Internal Supplies - ANSWERThe employees or processes that supply important
information or materials to a firm's processes
Nested Process - ANSWERthe concept of a process within a process
Core process - ANSWERa set of activites that delivers value to external customers
supplier relationship process - ANSWERa process that selects the suppliers of services,
materials, and information and facilitates the timely and efficient flow of these items into
the firm
new service/product development process - ANSWERa process that deesigns and
develops new services or products from inputs recieved from external customer
specifications or from the market in general through the customer relationship process
, order fulfillment process - ANSWERa process that inclues the activities required to
produce and deliver the service or product to the external customer
customer relationship process - ANSWERa process that identifies, attracts, and builds
relationships with external customers and facilitates the placement of orders by
customers, sometimes referred to as customer relationship management
support process - ANSWERa process that provides vital resources and inputs to the
core processes and therefore is essential to the management of the business
operations strategy - ANSWERthe means by which operations implements the firm's
corporate strategy and helps to build a customer-driven firm
core competencies - ANSWERthe unique resources and strengths that an
organization's management considers when formulating strategy
lead time - ANSWERthe elapsed time between the receipt of a customer order and
filling it
competitive priorities - ANSWERthe critical dimensions that a process or supply chain
must possess to satisfy its internal or external customers, both now and in the future
competitive capabilities - ANSWERthe cost, quality, time, and flexibility dimensions that
a process or supply chain actualy possesses and is able to deliver
time-based competition - ANSWERa strategy that focuses on the competitive priorities
of delivery speed and development speed
order qualifier - ANSWERminimal level required from a set of criteria for a firm to do
business in a particular market
productivity - ANSWERthe value of outputs (services, and products) produced divided
by the values of input resources (wages, cost of equipment, and so on)
break-even quantity - ANSWERthe volume at which total revenues equal total costs
break-even analysis - ANSWERthe use of the break-even quantity; it can be used to
compare processes by finding the volume at which two different processes have equal
total costs
variable cost - ANSWERthe portion of hte total cost that varies directly with volume of
output
fixed cost - ANSWERthe portion of th etotal cost that remains constant regardless of
changes in levels of output
100%
Operations Management - ANSWERthe systematic design, direction, and control of
processes that transform inputs into services and products for internal, as well as
external, customers
Process - ANSWERany activity or group of activites that takes one or more inputs,
transforms them, and provides one or more outputs for its customers
Operation - ANSWERa group of resources performing all or part of one or more
processes
Supply Chain - ANSWERAn interrelated series of processes within and across firms
that produces a service or product to the satisfaction of customers
Supply Chain Management - ANSWERthe synchronization of a firm's processes with
those of its suppliers and customers to match teh flow of materials, services, and
information with customer demand
External lCustomers - ANSWERa customer who is either an end user or an
intermediary (manufacturers, financial, institutions, or retailers) buying the firm's finished
services or products
Internal Customers - ANSWEROne or more employees or processes that rely on inputs
from other employees or processes in order to perform their work
External Supplies - ANSWERthe businesses or individuals who provide the resources,
services, products, an dmaterials for the firm's short-term and long-term needs
Internal Supplies - ANSWERThe employees or processes that supply important
information or materials to a firm's processes
Nested Process - ANSWERthe concept of a process within a process
Core process - ANSWERa set of activites that delivers value to external customers
supplier relationship process - ANSWERa process that selects the suppliers of services,
materials, and information and facilitates the timely and efficient flow of these items into
the firm
new service/product development process - ANSWERa process that deesigns and
develops new services or products from inputs recieved from external customer
specifications or from the market in general through the customer relationship process
, order fulfillment process - ANSWERa process that inclues the activities required to
produce and deliver the service or product to the external customer
customer relationship process - ANSWERa process that identifies, attracts, and builds
relationships with external customers and facilitates the placement of orders by
customers, sometimes referred to as customer relationship management
support process - ANSWERa process that provides vital resources and inputs to the
core processes and therefore is essential to the management of the business
operations strategy - ANSWERthe means by which operations implements the firm's
corporate strategy and helps to build a customer-driven firm
core competencies - ANSWERthe unique resources and strengths that an
organization's management considers when formulating strategy
lead time - ANSWERthe elapsed time between the receipt of a customer order and
filling it
competitive priorities - ANSWERthe critical dimensions that a process or supply chain
must possess to satisfy its internal or external customers, both now and in the future
competitive capabilities - ANSWERthe cost, quality, time, and flexibility dimensions that
a process or supply chain actualy possesses and is able to deliver
time-based competition - ANSWERa strategy that focuses on the competitive priorities
of delivery speed and development speed
order qualifier - ANSWERminimal level required from a set of criteria for a firm to do
business in a particular market
productivity - ANSWERthe value of outputs (services, and products) produced divided
by the values of input resources (wages, cost of equipment, and so on)
break-even quantity - ANSWERthe volume at which total revenues equal total costs
break-even analysis - ANSWERthe use of the break-even quantity; it can be used to
compare processes by finding the volume at which two different processes have equal
total costs
variable cost - ANSWERthe portion of hte total cost that varies directly with volume of
output
fixed cost - ANSWERthe portion of th etotal cost that remains constant regardless of
changes in levels of output
