Exam 1 review - Exam 1 review 882 scantron calculator z...

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Exam 1 review – 882 scantron – calculator – z table provided Chap 1 1. What is oscm: similar to HW question 2. Difference between goods and services: goods are tangible, services intangible, goods are perishable, 3. Differences between Efficiency, effectiveness and value : HW question. Value is how much benefit we can get out of cost (cut cost, add benefit) Chap 2 1. Sustainability and triple bottom line: economics, social (welfare to employee, community, suppliers, etc.), economic (know differences) 2. Competitive dimensions of operation strategy: how do we compete? Cost (order qualifier, customer considers product), quality (order WINNER, customer buys, differentiation), flexibility (production mix & volume), delivery… flexibility & delivery are TIME based components 3. Order winner and order qualifier: 4. Productivity measurement partial, multifactor and total measure: productivity = output/input Partial= input is raw material or energy or labor & use only 1 of them
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