OMGT Midterm Exam Study Guide | Operations Management Review, Key Concepts &
Practice Questions
Operations and Supply Chain Management (OSCM) - ANS ✔✔design, operation, and
improvement of the systems that create and deliver the firm's primary products and services
Sovietization - ANS ✔✔building service activities to support a firm's product offerings
Efficiency - ANS ✔✔doing something at the lowest possible cost
Effectiveness - ANS ✔✔doing the right things to create the most value for the company
Value - ANS ✔✔ratio of quality to price paid
Mass Customization - ANS ✔✔producing products to order in lot sizes of one
Sustainability - ANS ✔✔the ability to maintain a balance in a system
Triple Bottom Line - ANS ✔✔relates to the economic, employee, and environmental impact of
the firms strategy
Operations and Supply Chain Strategy - ANS ✔✔setting broad policies and plans for using the
resources of a firm to best support the firm's long term competitive strategy
Straddling - ANS ✔✔occurs when a firm seeks to match what a competitor is doing by adding
new features, services, or technologies to existing activities.
, Order Winner - ANS ✔✔a dimension that differentiates the products or services of one firm
from those of another
Order Qualifier - ANS ✔✔a dimension used to screen a product or service as a candidate for
purchase
Activity-system Maps - ANS ✔✔a diagram that shows how a company's strategy is delivered
through a set of supporting activities
Core Capabilities - ANS ✔✔skills that differentiate a manufacturing or service firm from its
competitors
Productivity - ANS ✔✔a measure of how well resources are used
Learning Curve - ANS ✔✔A line displaying the relationship between unit production time and
the cumulative number of units produced.
Individual Learning - ANS ✔✔Improvement that results when people repeat a process and gain
skill or efficiency from their own experience
Organizational Learning - ANS ✔✔Improvement that comes both from experience and from
changes in administration, equipment, and product design
Process - ANS ✔✔Any set of activities performed by an organization that takes inputs and
transforms them into outputs ideally of greater value to the organization than the original
inputs
Cycle Time - ANS ✔✔The average time between completions of successive units in a process.
Practice Questions
Operations and Supply Chain Management (OSCM) - ANS ✔✔design, operation, and
improvement of the systems that create and deliver the firm's primary products and services
Sovietization - ANS ✔✔building service activities to support a firm's product offerings
Efficiency - ANS ✔✔doing something at the lowest possible cost
Effectiveness - ANS ✔✔doing the right things to create the most value for the company
Value - ANS ✔✔ratio of quality to price paid
Mass Customization - ANS ✔✔producing products to order in lot sizes of one
Sustainability - ANS ✔✔the ability to maintain a balance in a system
Triple Bottom Line - ANS ✔✔relates to the economic, employee, and environmental impact of
the firms strategy
Operations and Supply Chain Strategy - ANS ✔✔setting broad policies and plans for using the
resources of a firm to best support the firm's long term competitive strategy
Straddling - ANS ✔✔occurs when a firm seeks to match what a competitor is doing by adding
new features, services, or technologies to existing activities.
, Order Winner - ANS ✔✔a dimension that differentiates the products or services of one firm
from those of another
Order Qualifier - ANS ✔✔a dimension used to screen a product or service as a candidate for
purchase
Activity-system Maps - ANS ✔✔a diagram that shows how a company's strategy is delivered
through a set of supporting activities
Core Capabilities - ANS ✔✔skills that differentiate a manufacturing or service firm from its
competitors
Productivity - ANS ✔✔a measure of how well resources are used
Learning Curve - ANS ✔✔A line displaying the relationship between unit production time and
the cumulative number of units produced.
Individual Learning - ANS ✔✔Improvement that results when people repeat a process and gain
skill or efficiency from their own experience
Organizational Learning - ANS ✔✔Improvement that comes both from experience and from
changes in administration, equipment, and product design
Process - ANS ✔✔Any set of activities performed by an organization that takes inputs and
transforms them into outputs ideally of greater value to the organization than the original
inputs
Cycle Time - ANS ✔✔The average time between completions of successive units in a process.
