OM 300 TEST 1 QUESTIONS AND ANSWERS
The set of activities that create value in the form of goods and services by transforming
inputs into outputs. It is business functions responsible for planning, coordinating, and
controlling the resources needed to produce a company's products and services. It is
applicable to all firms, whether manufacturing or service - answers - what is operations
management?
Marketing
Production or operations
Finance or accounting - answers - om 3 essential functions
Planning
Organizing
Staffing
Leading
Controlling - answers - om 5 basic management functions
1 - design of goods and services
2 - managing quality, process and capacity design
3 - location strategy
4 - layout strategy
5 - human resources and job design
6 - supply-chain management
7 - inventory management
8 - scheduling
9 - maintenance - answers - 10 strategic om decisions
Unites produced/input used - answers - productivity
Labor
Capital
Management - answers - 3 factors critical to achieve improves productivity
Contributes to about 10% of the annual increase - answers - labor
Contributes about 38% of the annual increase - answers - capital
Contributes about 52% of the annual increase - answers - management
1) reduce costs (labor, taxes, tariffs, etc.)
2) improve supply chain
3) provide better goods and services
4) understand markets
5) learn to improve operations
The set of activities that create value in the form of goods and services by transforming
inputs into outputs. It is business functions responsible for planning, coordinating, and
controlling the resources needed to produce a company's products and services. It is
applicable to all firms, whether manufacturing or service - answers - what is operations
management?
Marketing
Production or operations
Finance or accounting - answers - om 3 essential functions
Planning
Organizing
Staffing
Leading
Controlling - answers - om 5 basic management functions
1 - design of goods and services
2 - managing quality, process and capacity design
3 - location strategy
4 - layout strategy
5 - human resources and job design
6 - supply-chain management
7 - inventory management
8 - scheduling
9 - maintenance - answers - 10 strategic om decisions
Unites produced/input used - answers - productivity
Labor
Capital
Management - answers - 3 factors critical to achieve improves productivity
Contributes to about 10% of the annual increase - answers - labor
Contributes about 38% of the annual increase - answers - capital
Contributes about 52% of the annual increase - answers - management
1) reduce costs (labor, taxes, tariffs, etc.)
2) improve supply chain
3) provide better goods and services
4) understand markets
5) learn to improve operations
