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OMGT MIDTERM EXAM QUESTIONS AND ANSWERS
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OMGT MIDTERM EXAM QUESTIONS AND ANSWERS
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OMGT MIDTERM EXAM QUESTIONSAND ANSWERS
Operations and Supply Chain Management (OSCM) - Answer-design, operation, and
improvement of the systems that create and deliver the firm's primary products and
services
Servitization - Answer-building service activities to support a firm's product offerings
Efficiency - Answer-doing something at the lowest possible cost
Effectiveness - Answer-doing the right things to create the most value for the company
Value - Answer-ratio of quality to price paid
Mass Customization - Answer-producing products to order in lot sizes of one
Sustainability - Answer-the ability to maintain a balance in a system
Triple Bottom Line - Answer-relates to the economic, employee, and environmental
impact of the firms strategy
Operations and Supply Chain Strategy - Answer-setting broad policies and plans for
using the resources of a firm to best support the firm's long term competitive strategy
Straddling - Answer-occurs when a firm seeks to match what a competitor is doing by
adding new features, services, or technologies to existing activities.
Order Winner - Answer-a dimension that differentiates the products or services of one
firm from those of another
Order Qualifier - Answer-a dimension used to screen a product or service as a
candidate for purchase
Activity-system Maps - Answer-a diagram that shows how a company's strategy is
delivered through a set of supporting activities
Core Capabilities - Answer-skills that differentiate a manufacturing or service firm from
its competitors
Productivity - Answer-a measure of how well resources are used
Learning Curve - Answer-A line displaying the relationship between unit production time
and the cumulative number of units produced.
, Individual Learning - Answer-Improvement that results when people repeat a process
and gain skill or efficiency from their own experience
Organizational Learning - Answer-Improvement that comes both from experience and
from changes in administration, equipment, and product design
Process - Answer-Any set of activities performed by an organization that takes inputs
and transforms them into outputs ideally of greater value to the organization than the
original inputs
Cycle Time - Answer-The average time between completions of successive units in a
process.
Utilization - Answer-The ratio of the time that a resource is actually activated relative to
the time that it is available for use
Buffering - Answer-A storage area between stages where the output of a stage is place
prior to being used in a downstream stage; allows the stages to operate independently
Blocking - Answer-The activities in the stage must stop because there is no place to
deposit the item just completed.
Starving - Answer-The activities in a stage must stop because there is no work
Bottleneck - Answer-A resource that limits the capacity or maximum output of the
process
Make-to-order - Answer-A process that is activated only in response to an actual order
Make-to-stock - Answer-A process that produces standard products that are served in
finished goods inventory. The product is delivered quickly to the customer from the
finished goods inventory
Hybrid - Answer-Combines the features of both make-to-order and make-to-stock.
typically, a generic product is made and stocked at some points in the process. These
generic units are customized in a final process to meet actual orders.
Pacing - Answer-Movement of items through a process is coordinated through a timing
mechanism.
Efficiency - Answer-A ratio of the actual output of a process relative to some standard.
Run Time - Answer-The time required to produce a bath of parts.
Setup Time - Answer-The time required to prepare a machine to make a particular item.
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