MGSC 395 Exams Pack| Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+

Big three areas chart : Finance--> Material and Service Input-->Operations--> Product and Service Outputs-->Marketing--> Sales revenue--> back to finance Finance : Acquires financial resources and capital for inputs Operations : Translates materials and services into outputs...

Operations management : The systematic design, direction, and control of processes that transforms inputs into serves and products for internal, as well as external, customers Process : any activity or group of activities that takes one or more inputs, transforms them, and provides one or mor...

Capacity : The max rate of output of a process or system What do long-term capacity plans involve? : Investments in new facilities and equip at the organizational level, and require top mgmt participation and approval bc they are not easily reversed When choosing a capacity strategy, what do m...

A Process View : Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers The Supply Chain View : Each activity in a process should add value to the preceding activities; waste and unnecessary cost should be elimina...

A credit card-processing firm would be likely to list the following competitive priorities for its external customers: A. Concurrent engineering B. Mass customization C. Consistent quality D. Postponement : c Which of the following events from the twentieth century defines the history of...

Complementary products : when one demand goes up, so does the other Judgement methods : contextual knowledge gained through experience Causal methods : Use historical data and the relationships can be identified between the dependent and independent variable (s). Time series methods : Use h...

Finance : Acquires financial resources and capital for inputs Marketing : Generates sales of outputs Operations : Translates materials and services into outputs Process : Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for...

capacity : maximum rate of output of a process or a system capacity management consists of: : capacity planning constraint management capacity planning : long term econonomies/diseconomies of scale capacity timing and sizing strategies systematic approach constraint management : short ter...

Operations management : The systematic design, direction, and control of processes that transform inputs into services and products for internal, as well as external, customers Process : Any activity or group of activities that takes one or more inputs, transforms them, and provides one or mo...

inventory management : the planning and controlling of inventories in order to meet the competitive priorities of the organization inventory : a stock of materials used to satisfy customer demand or to support the production of services or goods pressures for small inventories : -inventory ...

Finance : Acquires financial resources and capital for inputs Marketing : Generates sales of outputs Operations : Translates materials and services into outputs Process : Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for...

Break Even Analysis : Analysis to compare processes by finding the volume at which two different processes have equal total costs. pQ = F + cQ Break Even Quantity : The volume at which total revenues equal total costs. Variables for Break Even : Variable cost (c) The portion of the total co...

Acquires financial resources and capital for inputs : Finance Generates sales of outputs : Marketing Translates materials and services into outputs : Operations Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs

For what organizational decisions are demand forecasts used? : -long term(general forecast) -intermediate term(product family/service lines) -short term(detailed) What are the costs/risks of forecasts that are too high or too low? : Too high: -surplus of inventory -price markdown(blackfri.) ...