100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
OM 300 test 1 Nunnelley || with 100% Correct Answers. $10.79   Add to cart

Exam (elaborations)

OM 300 test 1 Nunnelley || with 100% Correct Answers.

 21 views  0 purchase
  • Course
  • OM 300
  • Institution
  • OM 300

Operations management correct answers is the set of activities that create value in the form of goods and services by transforming inputs into outputs The Supply Chain correct answers a global network of organizations and activities that supply a firm with goods and services Goal of the suppl...

[Show more]

Preview 2 out of 5  pages

  • July 26, 2024
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • OM 300
  • OM 300
avatar-seller
FullyFocus
OM 300 test 1 Nunnelley || with 100% Correct Answers.
Operations management correct answers is the set of activities that create value in the form of goods and services by transforming inputs into outputs
The Supply Chain correct answers a global network of organizations and activities that supply a firm with goods and services
Goal of the supply chain correct answers to achieve high levels of customer satisfaction, efficiency and competitive advantage
Three major functions of any organization correct answers 1. Marketing 2. Finance (accounting) 3. Operations management
Basic management functions correct answers -planning -organizing -staffing - leading - controlling
Manufactures produce correct answers tangible goods, services are intangible
Characteristics of Services correct answers • Intangible: ride in an airplane seat • Produced and consumed simultaneously • Unique • High customer interaction • Inconsistent product definition • Often knowledge based • Services dispersed • Quality may be hard to evaluate -Reselling is unusual
Characteristics of goods correct answers • Tangible: the seat itself • Product can be kept in inventory • Similar products produced • Limited customer involvement in production • Standard tangible product tends to make automation feasible • Product typically produced at a fixed facility • Easy to evaluate aspects of quality • Product often has some residual value
Productivity correct answers measure of process improvement, represents output relative to input
Management is the _________ of the annual increases to productivity correct answers largest, 52% of the 2.5% overall increase next is capital 38%, then labor 10%
Productivity in the service sector is... correct answers • Labor intensive • Focused on special attributes
• normally Intellectual tasks
• Difficult to automate • Difficult to check for quality
why do domestic business operations decide to change to an international operation? correct answers 1. Improve the supply chain 2. Reduce cost (labor, taxes, tariffs ect.) 3. Improve operations
4. Understand markets 5. Improve products 6. Attract and retain global talent
what is the challenge of globalization of business operations? correct answers social and cultural behaviors vary ex. bribery, lunch breaks, environment ect.
the mission statement tells an organization? correct answers where it is going
The strategy tells the organization? correct answers how it will get there
Strategies for competitive advantage correct answers differentiation cost leadership response
Differentiation correct answers considers everything that impacts a customers perception of value
Cost leadership correct answers - provide maximum perceived value, does not imply low quality
Response correct answers ○ Flexibility - responds to market changes in design innovation and volumes ○ Reliability is meeting schedules ○ Timeliness is quickness in design, production and delivery
Issues in operation strategy correct answers • Resources view • Value chain analysis • Five forces model Product life cycle
Product life cycle correct answers introduction growth maturity decline

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.79. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81531 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$10.79
  • (0)
  Add to cart