OPS MODULES 1&2 WITH COMPLETE QUESTIONS AND ANSWERS { GRADED A+}

OPS MODULES 1&2 WITH COMPLETE

QUESTIONS AND ANSWERS { GRADED

A+}




process - ✔✔any activity or group of activities that takes one or more inputs,

transforms them, and provides one or more outputs for customers


core processes - ✔✔deliver value to the external customer


support process - ✔✔provide vital inputs to core processes


operation - ✔✔a group of resources performing all or part of one or more

processes


4 core processes - ✔✔1. Supplier Relationship Process


2. New Service/Product Development


3. Order Fulfillment Process


4. Customer Relationship Process

,manufacturing process - ✔✔physical, durable output


output can be inventoried


low customer contact


long response time


capital intensive


quality easily measured


service process - ✔✔intangible, perishable output


output cannot be inventoried


high customer contact


short response time


labor intensive


quality not easily measured


3 core functions of business - ✔✔operations


finance


marketing

, 3 core functions of business: operations - ✔✔translates materials and services into

outputs


3 core functions of business; finance - ✔✔acquires financial resources and capital

for inputs


3 core functions of business: marketing - ✔✔generates sales of outputs


How do organizations typically compete? (Four major competitive priorities) -

✔✔Cost


Quality


Time


Flexibility


quality - ✔✔consistent quality


top quality


time - ✔✔delivery speed


on time delivery


development speed


Flexibility - ✔✔customization