BUAD 306 Exam 1 Review

BUAD 306 Exam 1 Review - BUAD 306 Exam 1 Review Chapter 1...

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BUAD 306 Exam 1 Review Chapter 1 – Introduction to Operations (concepts) Key differences between production and service/retail o Degree of customer contact Service: high, manufacturing: low o Uniformity of input S: variable based on customer preference, M: consistent o Labor content of job S: high, M: low because of machines o Uniformity of output S: low, M: high o Measurement of productivity S: more difficult because of variability of input, M: easier o Production and delivery S: simultaneous, M: delayed o Quality assurance S: More difficult, M: easier Be able to explain the Operations Function in a business, including the transformation process o Operations Management: management of systems or processes that create goods and/or provide services Responsible for producing the goods or providing the services offered by the organization o Transformation process: transforming or converting inputs into outputs Feedback: taking measurements during transaction process and comparing to the control (previously established standards) to see if correction is needed Value added: difference between the cost of inputs and the value price of outputs Goal: satisfying customer, making profit Explain how other topics you’ve learned impact portions (or all) of the transformation process o Technology: can affect productivity, costs, flexibility, quality o Degree of customer input: more input makes it more challenging to design o Related functions: employee management, inventory, capacity planning, forecasting, scheduling, managing quality Know different types of transformation processes o Physical: cutting, drilling o Logistical: transporting o Exchange o Physiological: make up of body o Psychological: changing the way you think—advertising, entertainment (mood changes)
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o Informational: getting knowledge—teaching o Other examples: farming, mixing, packing, copying, faxing… Chapter 4 – Product and Service Design (concepts)
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BUAD 306 Exam 1 Review - BUAD 306 Exam 1 Review Chapter 1...

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