MAR 3203 EXAM 1 CORRECT 100%
Productivity - ANSWERis the ratio of outputs (goods and services) divided by the
inputs (resources, such as labor and capital)
Productivity is - ANSWERthe creation of goods and service
operations management - ANSWERis the set of activities that create value in the
form of goods and services by transforming inputs into outputs
3 essential functions of OM - ANSWERMarketing - creates demand
Production - creates product
Finance - bill pay
The silo effect - ANSWERlimits interactions between departments
Supply Chain - ANSWERglobal network of organizations and activities that supply a
firm with goods and service
Supply chain is ... - ANSWERIntra-firm
OM Job - ANSWERto enhance (improve) this ratio of outputs to inputs improving
productivity
inputs - ANSWERthe resources—such as labor, money, materials, and energy—that
are converted into outputs
outputs - ANSWERthe goods, services, and ideas that result from the conversion of
inputs
revenues - ANSWER___ are derived from people
Forcasting - ANSWERthe art and science of predicting future events
time varieties - ANSWERshort range
medium range
long range
Medium/Long - ANSWERdeal with more comprehensive issues and support
management decisions regarding planning and products, plants and processes
short term - ANSWERusually employs different methodologies than long term
forecasting
Single-factor productivity - ANSWERIndicates the ratio of one resource (input) to the
goods and services produced (outputs).
Productivity - ANSWERis the ratio of outputs (goods and services) divided by the
inputs (resources, such as labor and capital)
Productivity is - ANSWERthe creation of goods and service
operations management - ANSWERis the set of activities that create value in the
form of goods and services by transforming inputs into outputs
3 essential functions of OM - ANSWERMarketing - creates demand
Production - creates product
Finance - bill pay
The silo effect - ANSWERlimits interactions between departments
Supply Chain - ANSWERglobal network of organizations and activities that supply a
firm with goods and service
Supply chain is ... - ANSWERIntra-firm
OM Job - ANSWERto enhance (improve) this ratio of outputs to inputs improving
productivity
inputs - ANSWERthe resources—such as labor, money, materials, and energy—that
are converted into outputs
outputs - ANSWERthe goods, services, and ideas that result from the conversion of
inputs
revenues - ANSWER___ are derived from people
Forcasting - ANSWERthe art and science of predicting future events
time varieties - ANSWERshort range
medium range
long range
Medium/Long - ANSWERdeal with more comprehensive issues and support
management decisions regarding planning and products, plants and processes
short term - ANSWERusually employs different methodologies than long term
forecasting
Single-factor productivity - ANSWERIndicates the ratio of one resource (input) to the
goods and services produced (outputs).
