OM300 Exam 1 Chilcutt QUESTIONS
AND CORRECT ANSWERS
Operations Management - CORRECT ANSWER is the set of activities that create value in the
form of goods and service by transforming inputs into outputs
10 Strategic OM Decisions - CORRECT ANSWER 1. People
2. Product
3. Process
4.Quality Management
5. Inventory Management
6.Supply Chain Management
7.Location
8.Layout
9.Scheduling
10. Maintenance
Goods vs. Services - CORRECT ANSWER Tangible products vs economic activities that
typically produce intangible product
Production vs Productivity - CORRECT ANSWER creation of goods and services vs a
measure of output
Single Factor Productivity - CORRECT ANSWER units produced/labor hours
Multi-Factor Productivity - CORRECT ANSWER Output / Labor + Material + Energy +
Capital + Miscellaneous
dollars - CORRECT ANSWER outputs and inputs are often expressed in
Supply Chain - CORRECT ANSWER The global network of organizations and activities that
supply a firm with goods and services
, The basic management functions of any management role - CORRECT ANSWER Planning,
organizing, staffing, leading, controlling
An operations manager would like to _____________ inputs while output remains the same -
CORRECT ANSWER reduce
An operations manager would like to ___________ outputs while input remains the same -
CORRECT ANSWER increase
Only through ____________________ increases can our standard of living improve - CORRECT
ANSWER productivity
Mission - CORRECT ANSWER provides boundaries and focus for organizations and the
concept around which the firm can rally
Strategy - CORRECT ANSWER is an organization's action plan to achieve the mission
3 strategic approaches to competitive advantage - CORRECT ANSWER 1. differentiation-
different
2. cost leadership- cheaper
3. response- more responsive
Use factor rating to evaluate both country and provider outsources - CORRECT ANSWER 1)
Develop a list of relevant factors called key success factors (KSFs)
2) Assign a weight to each factor
3) Develop a scale for each factor
4) Score each location for each factor
5) Multiply score by weights for each factor for each location
6) Make a recommendation based on the highest point score
planning - CORRECT ANSWER goal setting, defining the project, team organization
AND CORRECT ANSWERS
Operations Management - CORRECT ANSWER is the set of activities that create value in the
form of goods and service by transforming inputs into outputs
10 Strategic OM Decisions - CORRECT ANSWER 1. People
2. Product
3. Process
4.Quality Management
5. Inventory Management
6.Supply Chain Management
7.Location
8.Layout
9.Scheduling
10. Maintenance
Goods vs. Services - CORRECT ANSWER Tangible products vs economic activities that
typically produce intangible product
Production vs Productivity - CORRECT ANSWER creation of goods and services vs a
measure of output
Single Factor Productivity - CORRECT ANSWER units produced/labor hours
Multi-Factor Productivity - CORRECT ANSWER Output / Labor + Material + Energy +
Capital + Miscellaneous
dollars - CORRECT ANSWER outputs and inputs are often expressed in
Supply Chain - CORRECT ANSWER The global network of organizations and activities that
supply a firm with goods and services
, The basic management functions of any management role - CORRECT ANSWER Planning,
organizing, staffing, leading, controlling
An operations manager would like to _____________ inputs while output remains the same -
CORRECT ANSWER reduce
An operations manager would like to ___________ outputs while input remains the same -
CORRECT ANSWER increase
Only through ____________________ increases can our standard of living improve - CORRECT
ANSWER productivity
Mission - CORRECT ANSWER provides boundaries and focus for organizations and the
concept around which the firm can rally
Strategy - CORRECT ANSWER is an organization's action plan to achieve the mission
3 strategic approaches to competitive advantage - CORRECT ANSWER 1. differentiation-
different
2. cost leadership- cheaper
3. response- more responsive
Use factor rating to evaluate both country and provider outsources - CORRECT ANSWER 1)
Develop a list of relevant factors called key success factors (KSFs)
2) Assign a weight to each factor
3) Develop a scale for each factor
4) Score each location for each factor
5) Multiply score by weights for each factor for each location
6) Make a recommendation based on the highest point score
planning - CORRECT ANSWER goal setting, defining the project, team organization
