BCOR 3050 OSC Exam 1 with all Correct & 100% Verified
Answers |Actual Complete Exam |Already Graded A+
economic value ✔Correct Answer-is a measure of the benefit provided by a good or service to
an economic agent.
Operations Management ✔Correct Answer-transformation of inputs to outputs. effectively
and efficiently.
inputs (raw materials)-----> the process(wip inv)-----> output(finished goods)
What is operations management? ✔Correct Answer-the development and administration of
the activities involved in transforming resources into goods and services
materials manager ✔Correct Answer-responsible for ensuring the inventory is adequate for
production
production scheduler ✔Correct Answer-Matches the product orders with a sales forecast to
get the factory running smoothly.
Quality Management ✔Correct Answer-guarantees no defects
purchasing agent ✔Correct Answer-Person in charge of the purchasing materials
supply chain ✔Correct Answer-a Network of organizations that work to convert and move
goods from the raw materials, storage, o the end customer. these organizations are linked
through physical, information, and monetary flow
raw mat--->supplier--->manufacturer-->distribution--->retailer--->customer
Supply Chain Management ✔Correct Answer--often described as managing the flow of
information and materials from "suppliers" suppliers to the "customers" customer.
goal of supply chain ✔Correct Answer-is to convince customers to buy their product over the
competitors. so you can make large profits and creat value for end customer.
-high quality and profitable
-low price and be profitable
operating management decisions ✔Correct Answer-- increase production with out sacrificing
quality
-produce as much as possible with little inputs
, -productivity= (calculated as (op/ip))
4 broad categories of competitive priority ✔Correct Answer--cost
-quality
-time/delivery
-flexibility
consistent quality ✔Correct Answer-involves meeting the product spesifications and the
promises made to a customer (high reliability)
superior quality ✔Correct Answer-a product that is (clearly better) than another in one or
more aspects.
cost ✔Correct Answer-low cost operations seek to provide a product or service that is less
expensive then the competitors
on time ✔Correct Answer-delivering product when it is (promised), but not necessary quick
ex: Usps
Delivery Speed ✔Correct Answer-offers delivery of a product or service (faster)
ex: Fedex
product development speed ✔Correct Answer-refers to time between generations of changes
between product.
customization ✔Correct Answer-ability to make a product to exactly for the customers needs
mass customization ✔Correct Answer-products produced in high volume at roughly same cost
of standard but are customized to individual taste.
post ponment ✔Correct Answer-keeps products in a standard format and then adding unique
components for the individual customer at the last moment
variety ✔Correct Answer-ability to handle wide range or assortment of products with out
undue cost. products not customized to individual specifications, but instead numerous choices
volume flexibility ✔Correct Answer-ability to adjust production volume to meet fluctuations
in demand.
New Product Development ✔Correct Answer-the overall process of strategy, organization,
concept generation, product and marketing plan creation and evaluation, and
commercialization of a new product (good or service)
Answers |Actual Complete Exam |Already Graded A+
economic value ✔Correct Answer-is a measure of the benefit provided by a good or service to
an economic agent.
Operations Management ✔Correct Answer-transformation of inputs to outputs. effectively
and efficiently.
inputs (raw materials)-----> the process(wip inv)-----> output(finished goods)
What is operations management? ✔Correct Answer-the development and administration of
the activities involved in transforming resources into goods and services
materials manager ✔Correct Answer-responsible for ensuring the inventory is adequate for
production
production scheduler ✔Correct Answer-Matches the product orders with a sales forecast to
get the factory running smoothly.
Quality Management ✔Correct Answer-guarantees no defects
purchasing agent ✔Correct Answer-Person in charge of the purchasing materials
supply chain ✔Correct Answer-a Network of organizations that work to convert and move
goods from the raw materials, storage, o the end customer. these organizations are linked
through physical, information, and monetary flow
raw mat--->supplier--->manufacturer-->distribution--->retailer--->customer
Supply Chain Management ✔Correct Answer--often described as managing the flow of
information and materials from "suppliers" suppliers to the "customers" customer.
goal of supply chain ✔Correct Answer-is to convince customers to buy their product over the
competitors. so you can make large profits and creat value for end customer.
-high quality and profitable
-low price and be profitable
operating management decisions ✔Correct Answer-- increase production with out sacrificing
quality
-produce as much as possible with little inputs
, -productivity= (calculated as (op/ip))
4 broad categories of competitive priority ✔Correct Answer--cost
-quality
-time/delivery
-flexibility
consistent quality ✔Correct Answer-involves meeting the product spesifications and the
promises made to a customer (high reliability)
superior quality ✔Correct Answer-a product that is (clearly better) than another in one or
more aspects.
cost ✔Correct Answer-low cost operations seek to provide a product or service that is less
expensive then the competitors
on time ✔Correct Answer-delivering product when it is (promised), but not necessary quick
ex: Usps
Delivery Speed ✔Correct Answer-offers delivery of a product or service (faster)
ex: Fedex
product development speed ✔Correct Answer-refers to time between generations of changes
between product.
customization ✔Correct Answer-ability to make a product to exactly for the customers needs
mass customization ✔Correct Answer-products produced in high volume at roughly same cost
of standard but are customized to individual taste.
post ponment ✔Correct Answer-keeps products in a standard format and then adding unique
components for the individual customer at the last moment
variety ✔Correct Answer-ability to handle wide range or assortment of products with out
undue cost. products not customized to individual specifications, but instead numerous choices
volume flexibility ✔Correct Answer-ability to adjust production volume to meet fluctuations
in demand.
New Product Development ✔Correct Answer-the overall process of strategy, organization,
concept generation, product and marketing plan creation and evaluation, and
commercialization of a new product (good or service)
