OM 300 Exam 1 | The University of Alabama | UPDATED Questions
with 100% Verified Answers
Question: Production
Answer:
The creation of goods and services, output ONLY not a measure of efficiency
Question: Operations Management (OM)
Answer:
The set of activities that create value in the form of goods and services by transforming inputs into outputs.
NOT JUST MANUFACTURING!!!
Question: Essential functions of a business
Answer:
Marketing, finance/accounting, production/operations
Question: The supply chain
Answer:
A global network of organizations and activities that supply a firm with goods and services, members
collaborate to achieve high levels of customer satisfaction, efficiency, and competitive advantage. EVERY
HAND THAT TOUCHES PRODUCT
Question: 10 OM Decisions
Answer:
The base: people, product, process. The stuff: quality, inventory, supply chain management. The place: location
and layout. The face: scheduling and maintenance
Question: Goods
Answer:
Manufacturers produce tangible products
,Question: Services
Answer:
Economic activities that typically produce an intangible product (education, entertainment, lodging, etc)
Question: Productivity
Answer:
the ratio of outputs (goods and services) divided by the inputs (resources such as labor/capital). WANT TO
IMPROVE/MAXIMIZE to improve standard of living
Question: Multi-Factor Productivity
Answer:
Output / Labor + Material + Energy + Capital + Miscellaneous; often expressed in dollars, total factor
productivity
Question: Measurement problems
Answer:
Quality may change while the quantity of inputs and outputs remains constant, External elements may cause an
increase/decrease in productivity, Precise units of measure may be lacking
Question: Productivity variables
Answer:
Management contributes the most increase (52%), capital contributes 38% annual increase, labor contributes
only 10%
Question: Productivity improvement is difficult in services because of 5 factors
Answer:
Typically labor intensive, frequently focused on unique individual attributes or desires, often an intellectual
task performed by professionals, often difficult to mechanize/automate, difficult to evaluate for quality
Question: Challenges facing operations managers
Answer:
Develop and produce safe, high-quality green products, Train, retrain, and motivate employees in a safe
workplace, Honor stakeholder commitments
Question: Mission statements
Answer:
, provide boundaries and focus for organizations and the concept around which the firm can rally (the companys
"why")
Question: Strategy
Answer:
an organization's action plan to achieve the mission, "how are you going to get there?"
Question: Strategies for competitive advantage
Answer:
differentiation, cost leadership, response...all 3? very competitive!
Question: Differentiation
Answer:
better/different, uniqueness goes beyond physical and service attributes everything that impacts a customer's
perception. experience differentiation, 5 senses to experience the product
Question: Cost leadership
Answer:
cheaper, provide the maximum value as perceived by the customer, doesn't imply low value.
Question: Response
Answer:
Flexibility- matching market changes in design innovation and volumes. Reliability- meeting schedules.
Timeliness- quickness in design, production, and delivery
Question: Product life cycle
Answer:
The stages through which goods and services move from the time they are introduced on the market until they
are taken off the market. Intro, growth, maturity, decline
Question: Outsourcing
Answer:
transferring activities that traditionally have been internal to external suppliers, get someone better to do
something for you
Question: Reasons for outsourcing acceleration
Answer:
with 100% Verified Answers
Question: Production
Answer:
The creation of goods and services, output ONLY not a measure of efficiency
Question: Operations Management (OM)
Answer:
The set of activities that create value in the form of goods and services by transforming inputs into outputs.
NOT JUST MANUFACTURING!!!
Question: Essential functions of a business
Answer:
Marketing, finance/accounting, production/operations
Question: The supply chain
Answer:
A global network of organizations and activities that supply a firm with goods and services, members
collaborate to achieve high levels of customer satisfaction, efficiency, and competitive advantage. EVERY
HAND THAT TOUCHES PRODUCT
Question: 10 OM Decisions
Answer:
The base: people, product, process. The stuff: quality, inventory, supply chain management. The place: location
and layout. The face: scheduling and maintenance
Question: Goods
Answer:
Manufacturers produce tangible products
,Question: Services
Answer:
Economic activities that typically produce an intangible product (education, entertainment, lodging, etc)
Question: Productivity
Answer:
the ratio of outputs (goods and services) divided by the inputs (resources such as labor/capital). WANT TO
IMPROVE/MAXIMIZE to improve standard of living
Question: Multi-Factor Productivity
Answer:
Output / Labor + Material + Energy + Capital + Miscellaneous; often expressed in dollars, total factor
productivity
Question: Measurement problems
Answer:
Quality may change while the quantity of inputs and outputs remains constant, External elements may cause an
increase/decrease in productivity, Precise units of measure may be lacking
Question: Productivity variables
Answer:
Management contributes the most increase (52%), capital contributes 38% annual increase, labor contributes
only 10%
Question: Productivity improvement is difficult in services because of 5 factors
Answer:
Typically labor intensive, frequently focused on unique individual attributes or desires, often an intellectual
task performed by professionals, often difficult to mechanize/automate, difficult to evaluate for quality
Question: Challenges facing operations managers
Answer:
Develop and produce safe, high-quality green products, Train, retrain, and motivate employees in a safe
workplace, Honor stakeholder commitments
Question: Mission statements
Answer:
, provide boundaries and focus for organizations and the concept around which the firm can rally (the companys
"why")
Question: Strategy
Answer:
an organization's action plan to achieve the mission, "how are you going to get there?"
Question: Strategies for competitive advantage
Answer:
differentiation, cost leadership, response...all 3? very competitive!
Question: Differentiation
Answer:
better/different, uniqueness goes beyond physical and service attributes everything that impacts a customer's
perception. experience differentiation, 5 senses to experience the product
Question: Cost leadership
Answer:
cheaper, provide the maximum value as perceived by the customer, doesn't imply low value.
Question: Response
Answer:
Flexibility- matching market changes in design innovation and volumes. Reliability- meeting schedules.
Timeliness- quickness in design, production, and delivery
Question: Product life cycle
Answer:
The stages through which goods and services move from the time they are introduced on the market until they
are taken off the market. Intro, growth, maturity, decline
Question: Outsourcing
Answer:
transferring activities that traditionally have been internal to external suppliers, get someone better to do
something for you
Question: Reasons for outsourcing acceleration
Answer:
