MG375 – Production Operations Management Exam Guide_spring 2010

MG375 – Production Operations Management Exam Guide_spring 2010

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Unformatted text preview: Study Guide for MG375 Production Operations Management Professor Martin Brennan, Park University Online Final Exam Notes Page | 1 The final exam must be taken with a proctor, consists of essay type questions, is closed book and notes, and has a two hour time limit. Studying the following topics will assist in preparing for the exam: 1) Examples of operations management Operations management concerns itself with the conversion of inputs into outputs, using physical resources, so as to provide the desired utility of form, place, possession or state or a combination thereof- to the customer while meeting the other organizational objectives of effectiveness, efficiency and adaptability. There may be number of situations in either marketing or personnel or other functions which can be classified or sub classified under production and operations management. For example:- The physical distribution of items to the customers The arrangement of collection of marketing information The actual selection and recruitment process The paper flow and conversion of the accounting information in an accounts office The paper flow and conversion of data into information usable by the judge in a court of law. Everything you wear, sit on, use, read, or knock about on the sports field comes to you courtesy of the operation managers who organized its production. Every book you borrow from library, every treatment you receive at hospital, every service you expect in the shops, and every lecture you attend at the university- all these have been produced and become a part of operations management. Activities of operation management are:- Purchasing Control and coordinating function of management Product and service management Quality management Inventory management Logistics and transport management Facilities management Configuration management Distribution channels Enterprise resource planning 2) How operations management helps companies maintain a competitive posture? Operations management is an area of business concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient in terms of using as little resource as needed, and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (in the forms of materials, labor and energy) into outputs (in the form of goods and services). Operations traditionally refer to the production of goods and services separately, although the distinction between these two main types of operations is increasingly difficult to make as manufacturers tend to merge product and service offerings. More generally, Operations Management aims to increase the content of value-added activities in any given process. Fundamentally, these value-adding creative activities should be aligned with market opportunity (see Marketing) for optimal enterprise performance....
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MG375 – Production Operations Management Exam Guide_spring 2010

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