GMS 401 Final EXAM Questions & Answers, Well
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Terms in this set (203)
Production the creation of goods and services
Activities that relate to the creation of goods and
Operations Management services through the transformation of inputs to
outputs
A global network of organizations and activities that
Supply chain
supply a firm with goods and services
Economic activities that typically produce an
Services intangible product (such as education, entertainment,
lodging, government, financial, and health services)
the segment of the economy that includes trade,
Service sector financial, lodging, education, legal, medical, and
other professional occupations
the application of planning, organizing, staffing,
Management process leading, and controlling to the achievement of
objectives
distinguishing the offerings of an organization in a way
Differentiation
that the customer perceives as adding value
, Engaging a customer with a product through
Experience Differentiation imaginative use of the five senses, so the customer
"experiences" the product
achieving maximum value, as perceived by the
Low cost leadership
customer
a set of values related to rapid, flexible, and reliable
Response
performance
the purpose or rationale for an organization's
Mission
existence
how an organization expects to achieve its missions
Strategy
and goals
the ratio of outputs (goods and services) divided by
Productivity one or more inputs (such as labour, capital or
management)
Indicates the ratio of one resource (input) to the
Single factor Productivity
goods and services produced (outputs).
indicates the ratio of many or all resources (inputs) to
Multifactor productivity
the goods and services produced (outputs)
the three factors critical to productivity improvement
Productivity variables
- capital and the art and science of management
a society in which much of the labour force has
Knowledge Society migrated from manual work to work based on
knowledge
the activities involved in keeping a systems equipment
Maintenance
in working order
the probability that a machine part or product will
Reliability function properly for a specified time under stated
conditions
Mean Time Between The expected time between a repair and the next
Failures (MTBF) failure of a component, machine, process, or product.
Redundancy the use of components in parallel to raise reliability
Elaborated | Already Verified Test |100% Verified
solutions | Latest!!
Save
Terms in this set (203)
Production the creation of goods and services
Activities that relate to the creation of goods and
Operations Management services through the transformation of inputs to
outputs
A global network of organizations and activities that
Supply chain
supply a firm with goods and services
Economic activities that typically produce an
Services intangible product (such as education, entertainment,
lodging, government, financial, and health services)
the segment of the economy that includes trade,
Service sector financial, lodging, education, legal, medical, and
other professional occupations
the application of planning, organizing, staffing,
Management process leading, and controlling to the achievement of
objectives
distinguishing the offerings of an organization in a way
Differentiation
that the customer perceives as adding value
, Engaging a customer with a product through
Experience Differentiation imaginative use of the five senses, so the customer
"experiences" the product
achieving maximum value, as perceived by the
Low cost leadership
customer
a set of values related to rapid, flexible, and reliable
Response
performance
the purpose or rationale for an organization's
Mission
existence
how an organization expects to achieve its missions
Strategy
and goals
the ratio of outputs (goods and services) divided by
Productivity one or more inputs (such as labour, capital or
management)
Indicates the ratio of one resource (input) to the
Single factor Productivity
goods and services produced (outputs).
indicates the ratio of many or all resources (inputs) to
Multifactor productivity
the goods and services produced (outputs)
the three factors critical to productivity improvement
Productivity variables
- capital and the art and science of management
a society in which much of the labour force has
Knowledge Society migrated from manual work to work based on
knowledge
the activities involved in keeping a systems equipment
Maintenance
in working order
the probability that a machine part or product will
Reliability function properly for a specified time under stated
conditions
Mean Time Between The expected time between a repair and the next
Failures (MTBF) failure of a component, machine, process, or product.
Redundancy the use of components in parallel to raise reliability
