OSC MIDTERM EXAM 1 (MODULES 1-3)
QUESTIONS AND ANSWERS. VERIFIED
2026.
What is Value? - ANS Economic value is a measure of the benefit provided by a good or
service to an economic agent.
What is Operations Management? - ANS The transformation of inputs into outputs. It is
essentially the process of making things.
What is the materials manager responsible for? - ANS The materials manager is responsible
for ensuring that the inventory is adequate for production.
What is a purchasing agent responsible for? - ANS A purchasing agent is responsible for
buying the materials.
What is a production scheduler responsible for? - ANS The production scheduler is
responsible for matching the product orders with a sale forecast to get the factory running
smoothly.
What does quality management do? - ANS They guarantee that the products are free of
defects.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, What are some inputs? - ANS Human labor, materials and parts, energy, machinery
What are examples of "the process"? - ANS Manufacturing, assembly, location change
(shipping),
surgical operation
What are some outputs? - ANS Finished products, service interaction with customer, a
medical diagnosis, customer satisfaction
What are the important decisions in operations management? - ANS How to increase
productivity without sacrificing quality, producing as many as possible with as little input as
possible,
How is productivity calculated? - ANS Productivity is calculated as the ratio of output to input
What is operations management and what are the three most important operations
management practices? - ANS Operations management is the management of processes that
transform inputs into goods and services that add value for the customer. the three most
important practices are: total quality management, supply chain management, and just in
time/lean operations
Why is it important to understand and creat value? - ANS Understanding what customers
value is the first step in delivering customer value... there are two stages at which customers
assess value: before and after they purchase a product or service. Value is perceived at various
levels; therefore, value needs be to be delivered at various levels
What is supply chain management? - ANS The management of the flow of information and
materials from the suppliers to customers
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
QUESTIONS AND ANSWERS. VERIFIED
2026.
What is Value? - ANS Economic value is a measure of the benefit provided by a good or
service to an economic agent.
What is Operations Management? - ANS The transformation of inputs into outputs. It is
essentially the process of making things.
What is the materials manager responsible for? - ANS The materials manager is responsible
for ensuring that the inventory is adequate for production.
What is a purchasing agent responsible for? - ANS A purchasing agent is responsible for
buying the materials.
What is a production scheduler responsible for? - ANS The production scheduler is
responsible for matching the product orders with a sale forecast to get the factory running
smoothly.
What does quality management do? - ANS They guarantee that the products are free of
defects.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, What are some inputs? - ANS Human labor, materials and parts, energy, machinery
What are examples of "the process"? - ANS Manufacturing, assembly, location change
(shipping),
surgical operation
What are some outputs? - ANS Finished products, service interaction with customer, a
medical diagnosis, customer satisfaction
What are the important decisions in operations management? - ANS How to increase
productivity without sacrificing quality, producing as many as possible with as little input as
possible,
How is productivity calculated? - ANS Productivity is calculated as the ratio of output to input
What is operations management and what are the three most important operations
management practices? - ANS Operations management is the management of processes that
transform inputs into goods and services that add value for the customer. the three most
important practices are: total quality management, supply chain management, and just in
time/lean operations
Why is it important to understand and creat value? - ANS Understanding what customers
value is the first step in delivering customer value... there are two stages at which customers
assess value: before and after they purchase a product or service. Value is perceived at various
levels; therefore, value needs be to be delivered at various levels
What is supply chain management? - ANS The management of the flow of information and
materials from the suppliers to customers
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
