Mgsc 395 exam 1 - Study guides, Class notes & Summaries

definition of supply chain - CORRECT ANSWER-an interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers the big 3 areas of business - CORRECT ANSWER-finance - acquires financial resources and capital for inputs marketing - generates sales of outputs operations - translates materials and services into outputs support functions of a business - CORRECT ANSWER-accounting, info systems, human resources, and engineering the s...

MGSC 395 Exam 1 University of South Carolina

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 more outputs for its customers Operation : A group of resources performing all or part of one or more processes Supply chain management : The synchronization of a firm's processes with those of its...

Big three areas chart - CORRECT ANSWER-Finance--> Material and Service Input-->Operations--> Product and Service Outputs-->Marketing--> Sales revenue--> back to finance Finance - CORRECT ANSWER-Acquires financial resources and capital for inputs Operations - CORRECT ANSWER-Translates materials and services into outputs Marketing - CORRECT ANSWER-Generates sales of outputs Support Functions - CORRECT ANSWER--Accounting -Information Systems -Human Resources -Engineerin...

MGSC 395 Exam 1 with Complete Solutions

MGSC 395 Exam 1 Ahire questions & answers

Operations management - CORRECT ANSWER-The systematic design, direction, and control of processes that transform inputs into services and products for internal, as well as external, customers Process - CORRECT ANSWER-Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers Operation - CORRECT ANSWER-A group of resources performing all or part of one or more processes Supply chain management - CORRECT ANSWER-The...

MGSC 395 Exam 1 Review Practice Test. White Tiger Electronics produces CD players using an automated assembly line process. The standard cost of CD players is $143 per unit (labor, $31; materials, $67;and overhead, $45). The sales price is $300 per unit. To achieve a 13 percent multifactor productivity improvement by reducing materials costs only, one needs to reduce the materials cost by __ percent - CORRECT ANSWER 300 / 143 = 2.0979 2.0979*1.13 = 2.370629 300/2.370629= 126.54867 ...

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5 functions of a manager (Fayol) - Answer plan organize staff lead control An operations manager is in charge of - Answer the systematic design, direction, and control of processes that transform inputs into services and products for internal, as well as external customers operations management inputs - Answer workers managers equipment facilities materials land energy operations management outputs - Answer goods services inputs - Answer financial, physical process -...