OPM 311 - Operations Management
(Binghamton University) Exam ACTUAL
UPDATED QUESTIONS AND CORRECT
ANSWERS
Industry 4.0 - CORRECT ANSWERS✅✅the trend towards automation and data exchange
in manufacturing technologies, including the internet of things, cloud computing, and
artificial intelligence
Internet of Things (IoT) - CORRECT ANSWERS✅✅a world where interconnected,
Internet-enabled devices or "things" can collect and share data without human intervention
What are the two main sides to business? - CORRECT ANSWERS✅✅1. Demand
2. Fulfillment
Demand side of business - CORRECT ANSWERS✅✅responsible for forecasts, affecting
customer behaviors, getting orders for products or services and understanding markets
Fulfillment side of business - CORRECT ANSWERS✅✅responsible for making and
delivering products and services
What does accounting do for a business? - CORRECT ANSWERS✅✅is the function that
coches and "keeps score" for a business through profit and cost analysis
What is the transformation process within the supply chain look like and what does it do? -
CORRECT ANSWERS✅✅1. Includes the conversion of raw materials into saleable
products and services
2. Creates wealth
The three elements that transfer between members in a supply chain - CORRECT
ANSWERS✅✅1. Inventory
2. Information & Data
, 3. Cash
Upstream - CORRECT ANSWERS✅✅supply chain moving towards suppliers
Downstream - CORRECT ANSWERS✅✅supply chain moving towards customers
Owner of the demand planning process - CORRECT ANSWERS✅✅Top management of
sales/marketing, specifically at vice president level
Careers in OSCM (Operations and Supply Chain Management) - CORRECT
ANSWERS✅✅1. Quality, Process, or Manufacturing Engineering
2. Purchasing
3. Materials
4. Inventory Planning
5. Logistics
6. Warehousing
7. Production Management
APICS/ASCM - CORRECT ANSWERS✅✅the premier professional group in the
operations and supply chain management space
80/20 Rule - CORRECT ANSWERS✅✅80% of revenue comes from 20% of the items
Mission - CORRECT ANSWERS✅✅answers the questions, "what are we in business for"
and "what's important to the business"
Corporate Strategy - CORRECT ANSWERS✅✅sets long-term direction and defines what
the objectives for growth and sustainably in the future
Business imperatives - CORRECT ANSWERS✅✅short list of top priority goals that must
be done in next 12 months
(Binghamton University) Exam ACTUAL
UPDATED QUESTIONS AND CORRECT
ANSWERS
Industry 4.0 - CORRECT ANSWERS✅✅the trend towards automation and data exchange
in manufacturing technologies, including the internet of things, cloud computing, and
artificial intelligence
Internet of Things (IoT) - CORRECT ANSWERS✅✅a world where interconnected,
Internet-enabled devices or "things" can collect and share data without human intervention
What are the two main sides to business? - CORRECT ANSWERS✅✅1. Demand
2. Fulfillment
Demand side of business - CORRECT ANSWERS✅✅responsible for forecasts, affecting
customer behaviors, getting orders for products or services and understanding markets
Fulfillment side of business - CORRECT ANSWERS✅✅responsible for making and
delivering products and services
What does accounting do for a business? - CORRECT ANSWERS✅✅is the function that
coches and "keeps score" for a business through profit and cost analysis
What is the transformation process within the supply chain look like and what does it do? -
CORRECT ANSWERS✅✅1. Includes the conversion of raw materials into saleable
products and services
2. Creates wealth
The three elements that transfer between members in a supply chain - CORRECT
ANSWERS✅✅1. Inventory
2. Information & Data
, 3. Cash
Upstream - CORRECT ANSWERS✅✅supply chain moving towards suppliers
Downstream - CORRECT ANSWERS✅✅supply chain moving towards customers
Owner of the demand planning process - CORRECT ANSWERS✅✅Top management of
sales/marketing, specifically at vice president level
Careers in OSCM (Operations and Supply Chain Management) - CORRECT
ANSWERS✅✅1. Quality, Process, or Manufacturing Engineering
2. Purchasing
3. Materials
4. Inventory Planning
5. Logistics
6. Warehousing
7. Production Management
APICS/ASCM - CORRECT ANSWERS✅✅the premier professional group in the
operations and supply chain management space
80/20 Rule - CORRECT ANSWERS✅✅80% of revenue comes from 20% of the items
Mission - CORRECT ANSWERS✅✅answers the questions, "what are we in business for"
and "what's important to the business"
Corporate Strategy - CORRECT ANSWERS✅✅sets long-term direction and defines what
the objectives for growth and sustainably in the future
Business imperatives - CORRECT ANSWERS✅✅short list of top priority goals that must
be done in next 12 months
