Om 300 exam 3 - Study guides, Class notes & Summaries

OM 300 Exam 1 Questions And Answers 2024 Updated Study Set Operations Management ANS the business function responsible for planning, coordinating, and controlling the resources needed to produce a company's goods and services Role of operations ANS to transform organizational inputs into outputs. value added ANS the net increase created during the transformation of inputs into final outputs efficiency ANS performing activities at the lowest possible cost Manufacturing organizat...

OM 300 Exam 1 – Northam Exam Questions With Revised Correct Detailed Answers |ALREADY GRADED A+ PASS >> BRAND NEW VERSION! 1) How do goods and services differ? - ANSWER Products Services: Non-tangible products Goods: Tangible (Most companies provide a mixture of the two. i.e: Hard Rock Cafe's goods are the foods served while their services is the customer service and general experience) 2) What is productivity? - ANSWER The ratio of outputs (goods an...

OM 300 Exam 3 Questions And Answers Rated A+

operations management correct answers a set of activities that create value in the form of goods and services by transforming the inputs into outputs Explain the distinction between goods and services correct answers Services: intangible, produced and consumed simultaneously, unique, high customer interaction, inconsistent product definition, often knowledge based, services dispersed, quality may be hard to evaluate, and reselling is unusual. Goods:Tangible, product can usually be kept in ...

OM 300 Exam 4 Questions And Answers With Verified Solutions The 3 primary business functions? ANS marketing, operations, finance Supply Chain ANS A global network of organizations and activities that supply a firm with goods and services The objective of supply chain mgmt.? ANS to build a chain of suppliers that focuses on maximizing value to the ultimate customer Productivity ANS the ratio of output (good and services) divided by the inputs (resources such as labor and capital)

OM 300 Exam 3 With Complete Solutions

Om 300 Exam 3 With Complete Solutions

Operations Management correct answers the business function responsible for planning, coordinating, and controlling the resources needed to produce a company's goods and services Role of operations correct answers to transform organizational inputs into outputs. value added correct answers the net increase created during the transformation of inputs into final outputs efficiency correct answers performing activities at the lowest possible cost Manufacturing organizations correct ans...

OM 300 Exam 1 Study Guide With complete solutions

What is a model? correct answers A purposeful representation of key elements of objects or systems and the relationships among them; provides abstract representation of something real What should be omitted in a model? correct answers Useless data What are the four different types of models? correct answers 1. Mental Models 2. Visual Models 3. Physical Models 4. Mathematical Models What is mental model? correct answers Models that tell you what to do; example: traffic light, ski slop...