D464 2026: Managing operations || Answered Perfectly 100%.
what is operations management? correct answers the science and art of ensuring that goods and
services are created and delivered successfully to customers
Three issues are at the core of operations management: correct answers efficient, cost, and
quality
efficiency: correct answers is (a measure of how well resources are used in creating outputs), the
cost of operations, and the quality of the goods and services that create customer satisfaction all
contribute to profitability and ultimately the long-run success of a company
concept of value: correct answers the perception of the benefits associated with a good, service,
or bundle of goods and services in relation to what buyers are willing to pay for them.
customer benefit package: correct answers is a clearly defined set of tangible (goods-content)
and intangible (service-content) features that the customer recognizes, pays for, uses, or
experiences.
moment of truth: correct answers any episodes, transactions, or experiences in which a customer
comes into contact with any aspect of the delivery system, however remote, and thereby has an
opportunity to form an impression
value chain: correct answers is a network of facilities and processes that describes the flow of
materials, finished goods, services, information, and financial transactions from suppliers,
through the facilities and processes that create goods and services, and those that deliver them to
the customer
value-creation (core): correct answers focused on producing or delivering an organization's
primary goods or services that create value for customers, such as filling and shipping a
customer's order, assembling a dishwater, or providin a home mortgage.
,sustainability correct answers decide the best way to manage the risks associated with products
and operations to preserve resources for future generations
organizational performance measures categories: correct answers financial, customer and market,
quality, time, flexibility, innovation and learning, productivity and operational efficiency, and
sustainability
customer-satisfaction measurement system: correct answers provides a company with customer
ratings of specific goods and service features and indicates the relationship between those ratings
and the customer's likely future buying behavior
5 dimension of service quality correct answers tangibles, reliability, responsiveness, assurance,
empathy
reliability: correct answers ability to perform the promised service dependably and accurately
responsiveness: correct answers willingness to help customers and provide prompt recovery to
service upsets
assurance correct answers knowledge and courtesy of the service providers and their ability to
inspire trust and confidence in customers
empathy correct answers caring attitude and individualized attention provided to customers
productivity: correct answers is the ratio of the output of the process to the input. as output
increases for a constant level of input, or as the amount of input decreases for a constant level of
output, productivity increases
operational efficiency: correct answers is the ability to provide goods and services to customers
with minimum waste and maximum utilization of resources
,triple bottom line correct answers refers to the measurement of environmental, social, and
economic sustainability
interlinking correct answers refers to the measurement of environment, social, and economic
sustainability
value of the customer: correct answers quantifies the total revenue or profit each target market
customer generates over the buyer's life cycle
the balanced scorecard: correct answers to translate strategy into measure that uniquely
communicate your vision to the organization
the service-profit chain: correct answers is a business theory that emphasizes the relationship
between employee satisfaction, customer satisfaction, and financial performance of a business. it
suggests there is a direct link between how employees are treated, their job satisfaction, the
quality of service they provide to customers, and the profitability of the business.
value chain performance measures: correct answers are metrics and indicators used to assess the
efficiency and effectiveness of the various activities involved in the creation and delivery of a
product or service within a company's value chain. the value chain represents the sequence of
activities that add value to the product or service, from raw material acquisition to final delivery
to customers
order qualifiers: correct answers basic customer expectations are generally considered the
minimum performance level required to stay in business
three types of attributes customers use in evaluating the quality of goods and services: correct
answers search, experience, and credence.
competitive priorities: correct answers represent the strategic emphasis that a firm places on
certain performance measures and operational capabilities within a value chain.
, three levels of strategy correct answers corporate, business, and functional
computer-integrated manufacturing systems (CIMSs) correct answers represent the union of
hardware, software, database management, and communications to automate and control
production activities, from planning and design to manufacturing and distribution
computer-aided design/computer-aided engineering (CAD/CAE): correct answers enables
engineers to design, analyze, test, simulate, and "manufacture" products before they physically
exist, thus ensuring that a product can be manufactured to specifications when it is released to
the shop floor.
computer-aided manufacturing (CAM) systems: correct answers involves computer control of
the manufacturing process, such as determining tool movements and cutting speeds
CNC machines: correct answers whose operations are driven by a computer
numerical control: correct answers machine tools, which enable the machinist's skills to be
duplicated by a programmable device that controls the movements of a tool used to make
complex shapes.
scalability: correct answers a measure of the contribution margin (revenue minus variable costs)
required to deliver a good or service as the business grows and volumes increase
decision analysis: correct answers the formal study of how people make decisions, particulary
when faced with uncertain information, as well as a collection of techniques to support the
analysis of decision problems
IoT (internet of things): correct answers refers to physical products with embedded sensors that
are connected to the internet
what is operations management? correct answers the science and art of ensuring that goods and
services are created and delivered successfully to customers
Three issues are at the core of operations management: correct answers efficient, cost, and
quality
efficiency: correct answers is (a measure of how well resources are used in creating outputs), the
cost of operations, and the quality of the goods and services that create customer satisfaction all
contribute to profitability and ultimately the long-run success of a company
concept of value: correct answers the perception of the benefits associated with a good, service,
or bundle of goods and services in relation to what buyers are willing to pay for them.
customer benefit package: correct answers is a clearly defined set of tangible (goods-content)
and intangible (service-content) features that the customer recognizes, pays for, uses, or
experiences.
moment of truth: correct answers any episodes, transactions, or experiences in which a customer
comes into contact with any aspect of the delivery system, however remote, and thereby has an
opportunity to form an impression
value chain: correct answers is a network of facilities and processes that describes the flow of
materials, finished goods, services, information, and financial transactions from suppliers,
through the facilities and processes that create goods and services, and those that deliver them to
the customer
value-creation (core): correct answers focused on producing or delivering an organization's
primary goods or services that create value for customers, such as filling and shipping a
customer's order, assembling a dishwater, or providin a home mortgage.
,sustainability correct answers decide the best way to manage the risks associated with products
and operations to preserve resources for future generations
organizational performance measures categories: correct answers financial, customer and market,
quality, time, flexibility, innovation and learning, productivity and operational efficiency, and
sustainability
customer-satisfaction measurement system: correct answers provides a company with customer
ratings of specific goods and service features and indicates the relationship between those ratings
and the customer's likely future buying behavior
5 dimension of service quality correct answers tangibles, reliability, responsiveness, assurance,
empathy
reliability: correct answers ability to perform the promised service dependably and accurately
responsiveness: correct answers willingness to help customers and provide prompt recovery to
service upsets
assurance correct answers knowledge and courtesy of the service providers and their ability to
inspire trust and confidence in customers
empathy correct answers caring attitude and individualized attention provided to customers
productivity: correct answers is the ratio of the output of the process to the input. as output
increases for a constant level of input, or as the amount of input decreases for a constant level of
output, productivity increases
operational efficiency: correct answers is the ability to provide goods and services to customers
with minimum waste and maximum utilization of resources
,triple bottom line correct answers refers to the measurement of environmental, social, and
economic sustainability
interlinking correct answers refers to the measurement of environment, social, and economic
sustainability
value of the customer: correct answers quantifies the total revenue or profit each target market
customer generates over the buyer's life cycle
the balanced scorecard: correct answers to translate strategy into measure that uniquely
communicate your vision to the organization
the service-profit chain: correct answers is a business theory that emphasizes the relationship
between employee satisfaction, customer satisfaction, and financial performance of a business. it
suggests there is a direct link between how employees are treated, their job satisfaction, the
quality of service they provide to customers, and the profitability of the business.
value chain performance measures: correct answers are metrics and indicators used to assess the
efficiency and effectiveness of the various activities involved in the creation and delivery of a
product or service within a company's value chain. the value chain represents the sequence of
activities that add value to the product or service, from raw material acquisition to final delivery
to customers
order qualifiers: correct answers basic customer expectations are generally considered the
minimum performance level required to stay in business
three types of attributes customers use in evaluating the quality of goods and services: correct
answers search, experience, and credence.
competitive priorities: correct answers represent the strategic emphasis that a firm places on
certain performance measures and operational capabilities within a value chain.
, three levels of strategy correct answers corporate, business, and functional
computer-integrated manufacturing systems (CIMSs) correct answers represent the union of
hardware, software, database management, and communications to automate and control
production activities, from planning and design to manufacturing and distribution
computer-aided design/computer-aided engineering (CAD/CAE): correct answers enables
engineers to design, analyze, test, simulate, and "manufacture" products before they physically
exist, thus ensuring that a product can be manufactured to specifications when it is released to
the shop floor.
computer-aided manufacturing (CAM) systems: correct answers involves computer control of
the manufacturing process, such as determining tool movements and cutting speeds
CNC machines: correct answers whose operations are driven by a computer
numerical control: correct answers machine tools, which enable the machinist's skills to be
duplicated by a programmable device that controls the movements of a tool used to make
complex shapes.
scalability: correct answers a measure of the contribution margin (revenue minus variable costs)
required to deliver a good or service as the business grows and volumes increase
decision analysis: correct answers the formal study of how people make decisions, particulary
when faced with uncertain information, as well as a collection of techniques to support the
analysis of decision problems
IoT (internet of things): correct answers refers to physical products with embedded sensors that
are connected to the internet
