OPM EXAM 1 | QUESTIONS AND ANSWERS | LATEST UPDATE
| WITH COMPLETE SOLUTION.
What is Industry 4.0 Answer - 1.0 = Industrial Revolution
2.0 = Mass Production
3.0 = Computers and Automation
4.0 = Systems + Human Integration
Using IoT in order to have customer focused systems
What things are associated with the IoT? Answer - Data Analytics, Deeper look
into processes, and technology and its interactions with people and society
What are the two main sides to business? Answer - Demand - Customer needs,
sales and marketing
Fulfillment and Supply - taking care of customers needs. Operations
Management, Supply Chain
Accounting helps keep score here
What is the Transformation Process within the supply chain that creates
wealth? Answer - Input:
Raw Materials,
Capital, and Resources
, Value Add:
Conversion to salable goods/services
Output:
Those Goods/Services
Which three things transfer between members of a SCM process? Answer -
Inventory, Data, and Cash
Upstream vs. Downstream Answer - Upstream is when materials go towards
suppliers in the supply chain
Downstream is when things go towards the customer in the supply chain
Careers in OSCM Answer - Quality, Process or Manufacturing engineer,
Materials and Inventory Planning, Scheduling, Production Management,
Logistics, Warehousing, etc.
What is APICS? (ASCM) Answer - the premier corporation in the operations
and supply chain management space. Binghamton has its own chapter
80/20 rule Answer - 80% of revenue comes from 20% of items. 20% of revenue
comes from 80% of items
known as the Pareto rule from Vilfredo Perato
| WITH COMPLETE SOLUTION.
What is Industry 4.0 Answer - 1.0 = Industrial Revolution
2.0 = Mass Production
3.0 = Computers and Automation
4.0 = Systems + Human Integration
Using IoT in order to have customer focused systems
What things are associated with the IoT? Answer - Data Analytics, Deeper look
into processes, and technology and its interactions with people and society
What are the two main sides to business? Answer - Demand - Customer needs,
sales and marketing
Fulfillment and Supply - taking care of customers needs. Operations
Management, Supply Chain
Accounting helps keep score here
What is the Transformation Process within the supply chain that creates
wealth? Answer - Input:
Raw Materials,
Capital, and Resources
, Value Add:
Conversion to salable goods/services
Output:
Those Goods/Services
Which three things transfer between members of a SCM process? Answer -
Inventory, Data, and Cash
Upstream vs. Downstream Answer - Upstream is when materials go towards
suppliers in the supply chain
Downstream is when things go towards the customer in the supply chain
Careers in OSCM Answer - Quality, Process or Manufacturing engineer,
Materials and Inventory Planning, Scheduling, Production Management,
Logistics, Warehousing, etc.
What is APICS? (ASCM) Answer - the premier corporation in the operations
and supply chain management space. Binghamton has its own chapter
80/20 rule Answer - 80% of revenue comes from 20% of items. 20% of revenue
comes from 80% of items
known as the Pareto rule from Vilfredo Perato
