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OMIS 338 Exam 4 questions well answered to pass
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OMIS 338 Exam 4 questions well answered to pass
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OMIS 338 Exam 4Why are new products development and introduction important in competitive markets? - correct
answer ✔✔-Organizations exist to provide goods or services to society.
-Great new products are the key to success and revenue.
-Limited and predicable life cycles requires designing, and developing new products constantly.
-Customers buy satisfaction, not just a physical good or particular service.
What are the new product or service examples of competitive strategic options? - correct answer ✔✔-
Focus on Product Design.
-Determine Operations Capabilities.
*Materials: new suppliers capabilities.
*Labor: new skills requirements.
*Technology - equipment, Information Systems.
-Know the Time Frame for market readiness.
-Plan for the future:
*Modular and reduced complexity of the product *Standardization of components, suppliers
*Serviceability of the product
*Reduction of environmental impact
What are the four stages of product life cycles. Which are non-profitable and profitable in general? -
correct answer ✔✔Introduction:
-high production costs. (training and design)
-not profitable
, Growth:
-Focus on expanding capacity.
Maturity:
-Focus on efficiency, product improvement, and low cost
Decline:
-Focus on cost reduction
New products are developed by product the Product Development team, so why should Operations get
involved in the conception stage? - correct answer ✔✔-Because technology like equipment, information
systems, and logistics is an important capability in the conception stage.
-This stage has a focus on product design, operations very important in designing a product.
-The cross functional product development team hands over the responsibility of production to the
Operations line management team after successful new product introduction
Important Operations focus for the four phases: - correct answer ✔✔Introduction:
-Process capability and quality of manufacturing and suppliers
Growth:
-Forecasted level for focus on production and supplier capacities and Product and process reliability
Maturity:
- Optimize for Cost, Quality and Delivery
Decline - Focus on cost reduction, capacity reduction and minimize inventory obsolescence
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