MGT 3200 CH 1 and 2 study guide

MGT 3200 CH 1 and 2 study guide - Chapter 1 1-1. Define...

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Unformatted text preview: Chapter 1 1-1. Define Operations Management (OM). Provide an example of OM, including inputs, outputs, resources, and transformation. OM is the process of managing resources to transform inputs into outputs to create value. Can be goods or services. Internal facing = cost , quality , productivity/efficiency = firm competitiveness Example Resources Transformation Inputs Outputs Value Automotive factory Plant, workers, machines, tools Assembly Materials, parts cars Quality, design, cost, performance 23. Operations management is applicable d. to all firms, whether manufacturing and service 93. Define operations management. Will your definition accommodate both manufacturing and service operations? Operations management can be defined as the management of all activities directly related to the creation of goods and/or services through the transformation of inputs into outputs. 1-2. List and clearly describe reasons why OM is important 1. OM produces products/services Producing products (goods or services) is the main activity (core function) of any type of business 2. Product/service performance defines success It delivers and satisfies customers expectations, and a satisfied customer is the main goal of all business 3. OM costs dominate profitability is based on operations activities such as COGS, facilities, Direct Labor or Transportation. 28. Reasons to study Operations Management include d. learning about a costly part of the enterprise 29. Reasons to study Operations Management include learning about a. why people organize themselves for productive enterprise b. how goods and services are produced c. what operations managers do d. a costly part of the enterprise e. all of the above 1-3. Recognize and describe the critical decisions of OM that we will study in this class Quality mgt, SPC Programs to improve process quality? Process/capacity design Process design and capacity required? Supply chain mgt Make or buy? If buy, from whom? Inventory, MRP Inventory needed to serve demand? 37. The Ten Critical Decisions of Operations Management include: c. Process and capacity design 1-4. Recognize important events in OM history and their impacts on OM practice 40. Eli Whitney, in the _____, provided the foundations for ______ in operations management. d. nineteenth century; interchangeable parts o 41. The person most responsible for popularizing interchangeable parts in manufacturing was: Eli Whitney o 47. Which of the following statements is true? a. The person most responsible for initiating use of interchangeable parts in manufacturing was Eli Whitney . 43. Henry Ford is noted for his contributions to: c. assembly line operations Alfred Sloan (1923) Increased production complexity by providing a huge variety of models (GM). The more complex the process is the slower or less efficient....
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MGT 3200 CH 1 and 2 study guide - Chapter 1 1-1. Define...

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