BUSOBA 3230 Exam 1 | Questions with 100% Correct Answers

BUSOBA 3230 Exam 1 | Questions with 100% Correct Answers Operations Management is defined as "The systematic design, direction, and control of processes that transform inputs into services and products for internal, as well as external, customers". Therefore, operations management only apply in these industries: Healthcare All Industries Government Manufacturing Financial Services Non-Profit Organizations Professor Newsom purchases paint from Sherwin-Williams Store when redecorating her home. She is therefore a customer of Sherwin-Williams and is ___________________________ in the supply chain. strategic competitive upstream downstream Getting a haircut is more like a service process because: the haircut is tangible. the quality is very objective and easy to measure. if the appointment is missed, it cannot be stored for another time. there is very little customer involvement. Headquartered in Germany, Aldi is one of the fastest growing discount supermarkets in the United States. In a recent advertisement aired on local television, Aldi claims: "you will like our products but love our prices." Which of the following is most true for Aldi? Neither products or price are order winners Both products and price are order winners Products are order qualifiers, price is an order winner Price is an order qualifier, products are order winners Based on the operational decisions discussed in the in-class video, what appear to be the competitive priorities for Jeni's? Top quality product and top quality experience Low cost product and on time delivery High variety product and speed of experience Consistent quality product and fast delivery speed The design, operation, and improvement of the systems that create and deliver the firm's primary products and services. Operations and supply chain management (OSCM) One or more activities that transform inputs into outputs. Processes List the 5 supply chain processes 1. planning 2. Sourcing 3. Making 4. Delivering 5. Returning Consists of the processes needed to operate an existing supply chain strategically. Here a firm must determine how anticipated demand will be met with available resources Planning Involves the selection of suppliers that will deliver the goods and services needed to create the firms product Sourcing Where the major product is produced or the service is provided Making Aka logistics processes Delivering Involves processes for receiving worn-out, defective and excess products back from customers and support for customers who have problems with delivered products Returning When a firm builds service activities into its product offerings to create additional value for the customer. Product-service bundling Emphasizes how a factory's capabilities could be used strategically to gain advantage over a competing company. manufacturing strategy An integrated set of activities designed to achieve high-volume production using minimal inventories of parts that arrive exactly when they are needed. Just-in-time (JIT) Aggressively seeks to eliminate causes of production defects. Total quality control (TQC) To achieve high customer service with minimum levels of inventory investment Lean manufacturing Managing the entire organization so it excels in all dimensions of products and services important to the customer. Total quality management (TQM) An approach to improving business processes that seeks to make revolutionary changes as opposed to evolutionary (small) changes Business process reengineering (BPR) A statistical term to describe the quality goal of no more than 3.4 defects out of every million units. Also refers to a quality improvement philosophy and program. six sigma The ability to produce a unique product exactly to a particular customer's requirements. Mass customization The use of the Internet as an essential element of business activity. electronic commerce The ability to meet current resource needs without compromising the ability of future generations to meet their needs. Sustainability A business strategy that includes social, economic, and environmental criteria. triple bottom line The use of current business data to solve business problems using mathematical analysis. business analytics A term that refers to the billions of devices that are connected to the Internet. Internet of Things A ratio of the actual output of a process relative to some standard. Also, being "efficient" means doing something at the lowest possible cost. Efficiency Doing the things that will create the most value for the customer. Effectiveness The attractiveness of a product relative to its price. Value The setting of broad policies and plans that will guide the use of the resources needed by the firm to implement its corporate strategy. Operations and supply chain strategy Performing activities in a manner that best implements strategic priorities at minimum cost. Operations effectiveness When a firm seeks to match what a competitor is doing by adding new features, services, or technologies to existing activities. This often creates problems if trade-offs need to be made. Straddling One or more specific marketing-oriented dimensions that clearly differentiate a product from competing products. order winners Dimensions used to screen a product or service as a candidate for purchase. Order qualifiers Those individuals or companies that legally own one or more shares of stock in the company Shareholders Stakeholders Those individuals or organizations that are influenced, either directly or indirectly, by the actions of the firm Which type of firm invests in lean manufacturing programs in order to improve customer service levels for a given inventory investment? Make-to-stock Which work flow structures is appropriate for a process with great flexibility to produce a variety of products? Workcenter The service triangle has the _________________ surrounded by the _______________, _____________, and _______________. customer, service strategy, support systems, employees In regards to the service package, the psychological benefits that the customer may sense only vaguely, or the extrinsic features of the service. implicit services Which of the following would be recommended by the product-process matrix for low volumes? Project In regards to the service package, the benefits that are readily observable by the senses and that consist of the essential or intrinsic features of the service. Multiple choice question. explicit services Which of the following would be recommended by the product-process matrix for the lowest product standardization? Project The role of operations in The Service Triangle is a major one. Which of the following are part of operations responsibility? Check all that apply. Managing the workforce Equipment Service systems Facilities Procedures In regards to the service package, the physical resources that must be in place before a service can be offered. Supporting facility A ____________________ layout is sometimes referred to as a job shop. Workcenter Which layout uses a dedicated area where products that are similar in processing requirements are produced? manufacturing cell A ____________________ layout is where similar equipment or functions are grouped together, Workcenter A setup in which the product remains at one location, and equipment is moved to the product. project layout