1. What is operations management correct answers • Management of activities and resources that
create goods and/or provide services.
• The design, operation, and improvement of manufacturing and service systems that make
products, control inventory, maintain equipment, and provide services to customers
2. What is operations correct answers • A function or system that transforms inputs into outputs
of greater value. The transformation process can be physical, locational, exchange,
psychological, physiological, and informational
3. What is a value chain correct answers • A series of activities from supplier to customer that
add value to a product or service
4. What are the four primary functional areas of a firm correct answers • Marketing,
finance/accounting, human resources, and operations/suppliers
5. What is craft production correct answers • The process of handcrafting products or services for
individual customers
6. What is the difference between goods vs. services correct answers • Goods are tangible, low
customer contact, high uniformity of input and output, low labour content, and easy to measure
productivity and quality.
• Services are acts, deeds, or performances, are intangible, output is variable, high customer
contact, perishable, service and service delivery are inseparable, services are decentralized and
geographically dispersed, and services are consumed more often than products, low uniformity
of input and output, high labour content, difficult to measure quality and productivity, and easily
emulated
7. What is mass production vs. lead production correct answers • An adaptation of mass
production that prizes quality and flexibility.
• The high volume production of a standardized product for a mass market
,8. What is the quality revolution correct answers • An emphasis on quality and the strategic role
of operations - production tied to consumer demand
9. What is competitiveness correct answers • The ability and performance of an organization in
the marketplace as compared to other organizations that offer similar goods or services- based on
qualities such as cost, quality, flexibility, and delivery
10. What is productivity correct answers • The ratio of output to input - efficient resource use -
difficult to measure for services
• Affected by methods and management techniques, equipment and technology, and labour (i.e.,
the skill levels of the workers)
11. What is strategy correct answers • Strategies: plans for directing organization to achieve
mission/vision/goals including balanced scorecard and SWOT analysis.
• Operations strategy: coordinated set of policies, objectives, and action plans related to
operations function in nine categories.
14. What is the difference between projects vs. processes correct answers • Projects: Occurs just
once. There is only one set of deliverables.
• Processes: Occurs repeatedly. Many deliverables that occur regularly over a long period of time
15. What is strategy formulation correct answers • Defining a primary task - What is the firm in
the business of doing
- Assessing core competencices
- Determining order winners and order qualifiers
- Positioning the firm
- Deploying the Strategy
, 16. What is flexibility correct answers Ability to adjust to changes in product mix, production
volume, or design
17. What is mass customization correct answers The mass production of customized products
18. What is policy deployment correct answers Translates corporate strategy into measurable
objectives
19. What are Hoshins correct answers Action plans generated from the policy deployment
process
20. What is a balanced scorecard correct answers • a performance assessment tool that includes
metrics related to customers, processes, learning and growing, and finances - red danger zone is
less than 40%, yellow cautious zone is 40% to 60%, and green moving ahead zone is 60% to
100%)
21. What are KPI's correct answers • Set of measures that help managers evaluate performance in
critical areas
22. What is a supply chain correct answers • The facilities, functions, and activities involved in
producing and delivering a product or service from suppliers (and their suppliers) to customers
(and their customers)
23. Why do we need supply chains correct answers • Increasing competition, outsourcing,
globalization, e-commerce, and Managing orders and inventories
24. What is a procurement correct answers • Purchasing goods and services from suppliers
25. What is SCM correct answers • Supply chain management is managing the flow of
information through the supply chain to make it more responsive to customer needs while
lowering costs