Define the term operations management. -p. 4
a. The management of processes that create goods and services
Goods- physical items
Services- activities that provide some combination of time, location, form,
Chapter Four: Product and Service Design
What does product and service design do?
o Translate customer wants and needs into products and services
o Refine existing products and services
o Develop new products and services
Chapter Three: Forecasting
Forecast = a statement about the future. This function is usually carried out by the marketing
department, so marketing majors bewarethis ones for you! Forecasts are developed to reduce
Chapter Two: Competitiveness, Strategy, and Productivity
Ways in which organizations compete include:
1. Price-all things being equal, consumers will choose the lowest priced item. Organizations
that compete on price may ha
Explain the importance of work design. -p. 322-24
a. Temperature and Humidity- a constant temperature should try to be maintained
a. Ventilation- Unpleasant and noxious odors can be distracting and dangerous to
workers. Unless they
Describe the basic processing types.
a. Job Shop: Usually operates on a relatively small scale. It is used when a low
volume of high-variety of goods or services will be needed. Processing is
intermittent; work includes small jobs,
Explain the importance of capacity planning.
a. The goal of capacity planning is to achieve a match between long term supply
capabilities of an organization and the predicted level of long-term demand.
Discuss the ways of definin
Explain the importance of product and service design. -p. 132
a. Translate customer wants and needs into product and service requirements
b. Refine existing products and services
c. Develop new products and/or services
Wednesday, May 09, 2012
List the elements of a good forecast. - The Aardvark Ran Under Indian Women So
Cunningly and Excitedly
a. The forecast should be timely. Usually, a certain amount of time is needed to
List and briefly discuss the primary ways that business organizations compete.
a. Identifying consumer wants and/or needs is a basic input in an organization's
decision making process, and central to competitiveness. The ideal is to
Understand basic accounting terminology:
o Real and Nominal Accounts
o Trial Balance
o Adjusting Entries
o Financial Statements
o Closing E
Intermediate Accounting 1
Describe the usefulness of a conceptual framework.
a. build on and relate to an established body of concepts and objectives
b. provide a framework for solving new and emerging pr