OM 300 Exam 1 Chilcutt | UPDATED Questions with 100% Verified Answers

OM 300 Exam 1 Chilcutt | UPDATED Questions with 100% Verified
Answers

Question: What is Operations Management?

Answer:
the set of activities that create value in the form of goods and services by transforming inputs into outputs

Question: Marketing (Essential Function)

Answer:
generates demand

Question: Finance/Accounting (Essential Function)

Answer:
creates the product

Question: Supply Chain

Answer:
A global network of organizations and activities that supply a firm with goods and services

Question: Members of the Supply Chain

Answer:
collaborate to achieve high levels of customer satisfaction, efficiency, and competitive advantage

Question: Why Study Operations Management?

Answer:
1. one of 3 major functions of any organization, we want to study how people organize themselves for
productive enterprise 2. We want (and need) to know how goods and services are produced 3. We want to
understand what operations managers do 4. costly part of an organization

Question: What Do Operations Managers Do?

Answer:
planning, organizing, staffing, leading, controlling

Question: Strategic Operations Management Decisions - Base

Answer:
people, product, process

, Question: Strategic Operations Management Decisions - Staff

Answer:
quality management, inventory management, supply chain management

Question: Strategic Operations Management Decision - Place

Answer:
location, layout

Question: Strategic Operations Management Decision

Answer:
Scheduling and Maintenance

Question: Goods

Answer:
Manufacturers produce tangible products




Question: Services

Answer:
Economic activities that typically produce an intangible product

Question: Productivity Challenge

Answer:
Ratio of outputs divided by inputs

Question: Productivity

Answer:
Measure of process improvement

Question: Single-Factor Productivity

Answer: