MGT 227 EXAM 1 STUDY GUIDE
OSCM (Operations and Supply Chain Management) - Answers - The design, operation,
and improvement of systems that create and deliver the firm's primary products and
services.
Process - Answers - A series of actions or steps taken to achieve a particular outcome
in operations or production.
Product-Service Bundling - Answers - The combination of products and services to
provide a more comprehensive customer solution.
Efficiency - Answers - Achieving maximum productivity with minimum wasted effort or
expense
Effectiveness - Answers - The degree to which something is successful in producing the
desired result.
Value - Answers - The relationship between quality and price; how much benefit a
customer gets from a product or service relative to what they pay.
OSCM Strategy - Answers - The long-term plan and actions designed to optimize the
processes involved in producing goods and services and delivering them to customers.
Operations Effectiveness - Answers - The efficiency with which a company can meet
customer demand while using the least amount of resources.
Straddling - Answers - When a company tries to match the benefits of a successful
position while maintaining its existing position, leading to performance inefficiency.
Order Winners - Answers - Criteria that customers perceive as a significant differentiator
from competitors and decide to purchase based on this.
Order Qualifiers - Answers - Minimum standards or criteria that a product or service
must meet for a customer to consider buying it.
Supply Chain Risk - Answers - The potential for disruption in the supply chain that
affects the company's ability to produce and deliver products.
Productivity - Answers - A measure of the efficiency of production, calculated as the
ratio of outputs to inputs.
Productivity Measures - Answers - Metrics used to assess the efficiency of production,
typically output divided by input (e.g., labor productivity).
OSCM (Operations and Supply Chain Management) - Answers - The design, operation,
and improvement of systems that create and deliver the firm's primary products and
services.
Process - Answers - A series of actions or steps taken to achieve a particular outcome
in operations or production.
Product-Service Bundling - Answers - The combination of products and services to
provide a more comprehensive customer solution.
Efficiency - Answers - Achieving maximum productivity with minimum wasted effort or
expense
Effectiveness - Answers - The degree to which something is successful in producing the
desired result.
Value - Answers - The relationship between quality and price; how much benefit a
customer gets from a product or service relative to what they pay.
OSCM Strategy - Answers - The long-term plan and actions designed to optimize the
processes involved in producing goods and services and delivering them to customers.
Operations Effectiveness - Answers - The efficiency with which a company can meet
customer demand while using the least amount of resources.
Straddling - Answers - When a company tries to match the benefits of a successful
position while maintaining its existing position, leading to performance inefficiency.
Order Winners - Answers - Criteria that customers perceive as a significant differentiator
from competitors and decide to purchase based on this.
Order Qualifiers - Answers - Minimum standards or criteria that a product or service
must meet for a customer to consider buying it.
Supply Chain Risk - Answers - The potential for disruption in the supply chain that
affects the company's ability to produce and deliver products.
Productivity - Answers - A measure of the efficiency of production, calculated as the
ratio of outputs to inputs.
Productivity Measures - Answers - Metrics used to assess the efficiency of production,
typically output divided by input (e.g., labor productivity).
