OPMA 3306 Exam Questions with Verified Answers Latest Update 2025-2026
Process - Answers Inputs, outputs, and activities are integral to creating value for the customer
Strategy - Answers How firms create and sustain value for shareholders
shareholders - Answers individuals or companies that own stock in the company
Stakeholders - Answers Individuals or entities directly or indirectly influenced by actions of the
firm
Sustainability - Answers Meet the goals without comprising future generations
Triple Bottom Line - Answers Firms evaluated on the social, economic, and environmental
criteria.
People, Planet Profit
Green Operations - Answers Emphasis on trends like reduce, reuse, recycle.
Enviromental Management system, ISO14000, Reverse logistics, design for environment
Enterprise strategy - Answers Overall direction for all organizational functions
Operations Strategy - Answers Drives execution of corporate strategy and builds a customer-
centric culture
Competitive Dimensions - Answers Cost, quality, delivery speed and reliability, Flexibility
Trade-offs in Strategy - Answers Firms must decide which performance elements are critical
and allocate resources accordingly
Straddling - Answers Attempting to compete across multiple dimensions (risky)
Order Qualifiers - Answers Minimum standards that products must meet to be considered by
customers
Order Winners - Answers Criteria that differentiate a product form the competitors and drive
customer decisions
Supply Chain Risk Management - Answers Coordination risks (daily operations)
Disruption Risk (natural or man-made disasters)
Risk Mitigation Strategies - Answers Risk identification and assessment.
Contingency plan, safety stock, mult. suppliers
Productivity - Answers a measure of how well resources are used
, Partial productivity measures - Answers output relative to one input
multifactor productivity - Answers output relative to multiple inputs
Total Production - Answers output relative to total input costs
Tailored productivity measures - Answers specific productivity measures across various
industries
AppHarvest Case Study - Answers Sustainable farming practices involving advanced technology
Forecasting Concepts - Answers - uncertain and never perfect
- Continuous process
- shorten lead to --> better accuracy
Qualitative forecasting - Answers Used when data is unavailable (Judgement)
Quantitative Forecasting - Answers Uses historical data
time series analysis - Answers Assumes past demand can predict future demand
Casual Relationships - Answers Uses relationships between independent and dependent
variables
Time series components - Answers trend, cyclical, seasonal, random, autocorrelation, horizontal
Naive forecasting - Answers nest periods forecast= current period demand
Simple Moving Average - Answers Averages the demand of set number of periods
Weighted moving average - Answers Gives more weight to recent periods
Exponential Smoothing - Answers Sophisticated weighted average that gives more weight to
recent data and smooths fluctuations
Forecast Error - Answers the difference between a forecast and the actual demand
Cumulative forecast error - Answers Measures total forecast error over time
Mean Absolute Deviation - Answers Average size of errors
Mean absolute percentage error - Answers Scales forecast error relative to demand
Tracking Signal - Answers Measures whether forecasts are systematically too high or too low
Forecast Process - Answers -Adjust history file
-Prepare initial forecasts
Process - Answers Inputs, outputs, and activities are integral to creating value for the customer
Strategy - Answers How firms create and sustain value for shareholders
shareholders - Answers individuals or companies that own stock in the company
Stakeholders - Answers Individuals or entities directly or indirectly influenced by actions of the
firm
Sustainability - Answers Meet the goals without comprising future generations
Triple Bottom Line - Answers Firms evaluated on the social, economic, and environmental
criteria.
People, Planet Profit
Green Operations - Answers Emphasis on trends like reduce, reuse, recycle.
Enviromental Management system, ISO14000, Reverse logistics, design for environment
Enterprise strategy - Answers Overall direction for all organizational functions
Operations Strategy - Answers Drives execution of corporate strategy and builds a customer-
centric culture
Competitive Dimensions - Answers Cost, quality, delivery speed and reliability, Flexibility
Trade-offs in Strategy - Answers Firms must decide which performance elements are critical
and allocate resources accordingly
Straddling - Answers Attempting to compete across multiple dimensions (risky)
Order Qualifiers - Answers Minimum standards that products must meet to be considered by
customers
Order Winners - Answers Criteria that differentiate a product form the competitors and drive
customer decisions
Supply Chain Risk Management - Answers Coordination risks (daily operations)
Disruption Risk (natural or man-made disasters)
Risk Mitigation Strategies - Answers Risk identification and assessment.
Contingency plan, safety stock, mult. suppliers
Productivity - Answers a measure of how well resources are used
, Partial productivity measures - Answers output relative to one input
multifactor productivity - Answers output relative to multiple inputs
Total Production - Answers output relative to total input costs
Tailored productivity measures - Answers specific productivity measures across various
industries
AppHarvest Case Study - Answers Sustainable farming practices involving advanced technology
Forecasting Concepts - Answers - uncertain and never perfect
- Continuous process
- shorten lead to --> better accuracy
Qualitative forecasting - Answers Used when data is unavailable (Judgement)
Quantitative Forecasting - Answers Uses historical data
time series analysis - Answers Assumes past demand can predict future demand
Casual Relationships - Answers Uses relationships between independent and dependent
variables
Time series components - Answers trend, cyclical, seasonal, random, autocorrelation, horizontal
Naive forecasting - Answers nest periods forecast= current period demand
Simple Moving Average - Answers Averages the demand of set number of periods
Weighted moving average - Answers Gives more weight to recent periods
Exponential Smoothing - Answers Sophisticated weighted average that gives more weight to
recent data and smooths fluctuations
Forecast Error - Answers the difference between a forecast and the actual demand
Cumulative forecast error - Answers Measures total forecast error over time
Mean Absolute Deviation - Answers Average size of errors
Mean absolute percentage error - Answers Scales forecast error relative to demand
Tracking Signal - Answers Measures whether forecasts are systematically too high or too low
Forecast Process - Answers -Adjust history file
-Prepare initial forecasts
