OPMA 3306 HW 1 - MIGUEL RUIZ 1001040291 OPMA 3306-001...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
MIGUEL RUIZ 1001040291 OPMA 3306-001 HOMEWORK 1 1. What is the definition of operations and supply chain management? Operations and supply chain management is the full-spectrum management of a firms inputs (raw goods, labor, etc.) and the processes that manipulate those inputs – with the end goal being producing outputs. 2. A doctor completes a surgical procedure on a patient without error. The patient dies anyway. In operations management terms, can we refer to this doctor as being efficient but not effective, and if yes, why? Yes, the doctor acted efficiently because he performed the task and/or service that was required of him. However, he was not effective because his delivery of this task and/or service was NOT USEFUL; it did not serve its intended purpose and was therefore ineffective. 3. Value is the ratio of? ATTRACTIVENESS to COST 4. The triple-bottom-line evaluates the firm against what three criteria? Economic prosperity : the firm should pay its shareholders and promote firm growth.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern