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MSIS 3223 test 1- Questions with Verified Answers
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MSIS 3223 test 1- Questions with Verified Answers
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MSIS 3223 test 1- Questions withVerified Answers
Operations management - -- The management of processes or systems that
create goods and/or provide services.
- inputs transformed into outputs (goods or services)
- plays role in supply chain
- works with marketing and finance
- It creates _____ - -VALUE added
- research and investment, salaries, creating profits
- Classifications on Productive Systems - -1. Degree of Standardization
(highly standardized or highly customized)
2. Type of Operation (project, repetitive)
3. Tangible good or Intangible act
- Key functions on the supply side are: - -- operations and supply chains
- Key functions on the demand side: - -- sales and marketing
- Too little supply leads to... - -- lost opportunity and customer
dissatisfaction
- Three basic functional areas of organization: - -1. Finance
2. Marketing
3. Operation
Need support and input from all areas for Operation to produce goods and
services
- Operations and Supply Chains are.... - -- intrinsically linked and no
business organization could exist without both
- Feedback in the transformation process is defined as: - -- measurements
taken at various points in the transformation process
- compared with previously established standards to determine whether
corrective action is needed (control)
- Control: - -- The comparison of feedback against previously established
standards to determine if corrective action is needed within the
transformation process
- Value-Added equation - -- Value or Price of Outputs - Cost of Inputs.
, - In Nonprofits, the value of outputs is their ________ - -- value to society
- Money from Value-Added is used for things like _____, _____, _____, ______ -
-- R&D, Investments, salaries, and profit.
- How many percent of jobs involve Operations Management? - -50%
- Eli Whitney came up with the concept of... - -- interchangeable parts
- Adam Smith came up with the concept of... - -- division of labor
- Watt came up with the concept of... - -- new power sources (The steam
engine)
- What are the Post Civil War dates? - -- (1865-1900)
- Events of Post Civil War - -- Mass exodus of farm laborers-labor pool
- Modern capital formation-joint stock co.
- Entrepreneurial ideas-Morgan,etc.
- Rapid expansion of West-railroad
----Great Productive Explosion----
- Scientific Management's Key People: - -F.W. Taylor--efficiency and
productivity
F. Gilbreth--motion studies
L. Gilbreth--fatigue studies (cheaper by the dozen)
H. Gantt--scheduling charts
H. Ford--auto assembly
- Dates of Scientific Management: - -- (1875-1925)
- Scientific Management's Key events: - -- "Systematic Planning"
- "Control Systems"
- "Scientific or Analytical Investigation"
- "Standards as Benchmarks"
- Systematic Planning - -
- Control Systems - -
- Scientific or Analytical Investigation - -
- Just-in-time manufacturing - -
- Lean production tools - -
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