COMM 225 EXAM|QUESTIONS AND 100%
Operations Management - ANSWER The management of activities and resource that
create good and/or provide services.
Efficiency - ANSWER Operating at minimum cost and time.
Effectiveness - ANSWER Achieving quality and timeliness.
Operations Functions - ANSWER It is the core of most organization and responsible for
creating of an organization's goods or services.
Inputs - ANSWER They are used to obtain finished goods or services using on or more
transformation/conversion processes.
Process - ANSWER It is a sequence of activities/operations.
Feedback - ANSWER To ensure that the desired outputs are obtained, measurements
are taken at various points.
Control - ANSWER The outputs are compared with previously established standards to
determine whether corrective action is needed.
Value Added - ANSWER The difference between the cost of inputs and the value or
price of outputs.
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, Provision of Funds - ANSWER The necessary funding of operations and the amount
and timing of funding is important, and most funds come from the revenues of goods and
services.
Economic Analysis of Capital Investment Proposals - ANSWER The evaluation of
alternative investments in plant and equipment.
Lead Time - ANSWER The time between ordering a good/service and receiving it.
Model - ANSWER An abstraction of reality; a simplified representation of something.
Linear Programming - ANSWER Allocating of scare resources.
Queuing Techniques - ANSWER Analyzing situation in which waiting lines form.
Inventory Techniques - ANSWER Control inventories.
Project Scheduling Techniques - ANSWER PERT (Program Evaluation and Review
Techniques) useful for planning, co-ordinating, and controlling large-scale projects.
Forecasting Techniques - ANSWER Used in forecasting demand.
Statistical Techniques - ANSWER Used in many areas of decision making, including
quality control.
System - ANSWER A set of interrelated parts that must work together.
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Operations Management - ANSWER The management of activities and resource that
create good and/or provide services.
Efficiency - ANSWER Operating at minimum cost and time.
Effectiveness - ANSWER Achieving quality and timeliness.
Operations Functions - ANSWER It is the core of most organization and responsible for
creating of an organization's goods or services.
Inputs - ANSWER They are used to obtain finished goods or services using on or more
transformation/conversion processes.
Process - ANSWER It is a sequence of activities/operations.
Feedback - ANSWER To ensure that the desired outputs are obtained, measurements
are taken at various points.
Control - ANSWER The outputs are compared with previously established standards to
determine whether corrective action is needed.
Value Added - ANSWER The difference between the cost of inputs and the value or
price of outputs.
1
, Provision of Funds - ANSWER The necessary funding of operations and the amount
and timing of funding is important, and most funds come from the revenues of goods and
services.
Economic Analysis of Capital Investment Proposals - ANSWER The evaluation of
alternative investments in plant and equipment.
Lead Time - ANSWER The time between ordering a good/service and receiving it.
Model - ANSWER An abstraction of reality; a simplified representation of something.
Linear Programming - ANSWER Allocating of scare resources.
Queuing Techniques - ANSWER Analyzing situation in which waiting lines form.
Inventory Techniques - ANSWER Control inventories.
Project Scheduling Techniques - ANSWER PERT (Program Evaluation and Review
Techniques) useful for planning, co-ordinating, and controlling large-scale projects.
Forecasting Techniques - ANSWER Used in forecasting demand.
Statistical Techniques - ANSWER Used in many areas of decision making, including
quality control.
System - ANSWER A set of interrelated parts that must work together.
2
