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OMIS 2010 Questions with complete solution

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OMIS 2010 Questions with complete solution OMIS 2010 1. What is operations management - correct answer • Management of activities and resources that create goods and/or provide services. • The design, operation, and improvement of manufacturing and service systems that make products, co...

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  • November 6, 2024
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  • 2024/2025
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  • omis 2010 questions with complete solution

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OMIS 2010
1. What is operations management - correct answer ✔• Management of
activities and resources that create goods and/or provide services.
• The design, operation, and improvement of manufacturing and service
systems that make products, control inventory, maintain equipment, and
provide services to customers


2. What is operations - correct answer ✔• A function or system that
transforms inputs into outputs of greater value. The transformation process
can be physical, locational, exchange, psychological, physiological, and
informational


3. What is a value chain - correct answer ✔• A series of activities from
supplier to customer that add value to a product or service


4. What are the four primary functional areas of a firm - correct answer ✔•
Marketing, finance/accounting, human resources, and operations/suppliers


5. What is craft production - correct answer ✔• The process of handcrafting
products or services for individual customers


6. What is the difference between goods vs. services - correct answer ✔•
Goods are tangible, low customer contact, high uniformity of input and output,
low labour content, and easy to measure productivity and quality.
• Services are acts, deeds, or performances, are intangible, output is variable,
high customer contact, perishable, service and service delivery are
inseparable, services are decentralized and geographically dispersed, and
services are consumed more often than products, low uniformity of input and
output, high labour content, difficult to measure quality and productivity, and
easily emulated

,7. What is mass production vs. lead production - correct answer ✔• An
adaptation of mass production that prizes quality and flexibility.
• The high volume production of a standardized product for a mass market


8. What is the quality revolution - correct answer ✔• An emphasis on quality
and the strategic role of operations - production tied to consumer demand


9. What is competitiveness - correct answer ✔• The ability and performance
of an organization in the marketplace as compared to other organizations that
offer similar goods or services- based on qualities such as cost, quality,
flexibility, and delivery


10. What is productivity - correct answer ✔• The ratio of output to input -
efficient resource use - difficult to measure for services
• Affected by methods and management techniques, equipment and
technology, and labour (i.e., the skill levels of the workers)


11. What is strategy - correct answer ✔• Strategies: plans for directing
organization to achieve mission/vision/goals including balanced scorecard and
SWOT analysis.
• Operations strategy: coordinated set of policies, objectives, and action plans
related to operations function in nine categories.


14. What is the difference between projects vs. processes - correct answer
✔• Projects: Occurs just once. There is only one set of deliverables.
• Processes: Occurs repeatedly. Many deliverables that occur regularly over a
long period of time

,15. What is strategy formulation - correct answer ✔• Defining a primary task -
What is the firm in the business of doing
- Assessing core competencices
- Determining order winners and order qualifiers
- Positioning the firm
- Deploying the Strategy


16. What is flexibility - correct answer ✔Ability to adjust to changes in
product mix, production volume, or design


17. What is mass customization - correct answer ✔The mass production of
customized products


18. What is policy deployment - correct answer ✔Translates corporate
strategy into measurable objectives


19. What are Hoshins - correct answer ✔Action plans generated from the
policy deployment process


20. What is a balanced scorecard - correct answer ✔• a performance
assessment tool that includes metrics related to customers, processes,
learning and growing, and finances - red danger zone is less than 40%, yellow
cautious zone is 40% to 60%, and green moving ahead zone is 60% to 100%)


21. What are KPI's - correct answer ✔• Set of measures that help managers
evaluate performance in critical areas


22. What is a supply chain - correct answer ✔• The facilities, functions, and
activities involved in producing and delivering a product or service from
suppliers (and their suppliers) to customers (and their customers)

, 23. Why do we need supply chains - correct answer ✔• Increasing
competition, outsourcing, globalization, e-commerce, and Managing orders
and inventories


24. What is a procurement - correct answer ✔• Purchasing goods and
services from suppliers


25. What is SCM - correct answer ✔• Supply chain management is
managing the flow of information through the supply chain to make it more
responsive to customer needs while lowering costs
• Key to effective supply chain management are information, communication,
cooperation, and trust


26. How do supply chains deal with demand uncertainty - correct answer ✔•
Reduce uncertainty - making demand predictable, avoid uncertainty by
reducing lead times and increasing supply chain flexibility so product can be
made/assembled to order, and hedge against uncertainty with buffers of
excess capacity


27. What is the difference between BTO vs. BTS - correct answer ✔• Build-
to-order mange market responsive supply chains characterized by high
product variety, highly variable customer demand, and short product life
cycles - leads to make to order or assemble to order
• Build to stock or make to stock supply chains are where customer orders are
met from stocks of an inventory of finished products that are kept at various
points in the network to reduce delay and increase sales


28. What is the bullwhip effect - correct answer ✔• Occurs when slight
demand variability is magnified as information moves back upstream
(production) due to lack of accurate demand information which leads to
stockpiling extra inventory to compensate for uncertainty.

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