Operations Management Study guides, Class notes & Summaries

Operations Management 14th Edition Stevenson Solution Manual Complete Solution Manual Operations Management 14th Edition Stevenson (Chapter 1-19) PDF File All Pages All Chapters Grade A+

Test Bank for Operations Management 14th Edition Stevenson / All Chapters 1 - 19 / Full Complete 2023 - 2024

supply chain management - correct answer flow of materials from suppliers to customers to maximize the use of the firm's resources and to provide the required level of customer service - correct answer objectives of supply chain management materials management cycle - correct answer acquisition-storage-conversion-storage-distribution suppliers, purchasing, production control, distribution, customers - correct answer What are the 5 parts of Phase 1 of the Integrated Supply-Chain inde...

Quality - correct answer The ability of the product or service to meet customer needs. (6) Cost of Quality (COQ) - correct answer The cost of doing the wrong, that is the price of non-conformance. (6) Total Quality Management - correct answer Management of an entire organization so that it excels in all aspects of products and services that are important to the customer.(6) PDCA - correct answer A continuous improvement model that involves fours stages, plan do, check, and act.(6) Si...

Production is.... - correct answer The creation of goods and services. Operations Management (OM) is... - correct answer -Is the set of activities -That creates value -In the form of goods and services -By transforming inputs into outputs Why is Operations Management important but not glamorous? - correct answer It is important because it is around us everyday at work and at home; Customers do not pay attention unless something goes wrong. Operations Management elements are... - corr...

Operations Management - correct answer The systematic design, direction, and control of processes that transform inputs into outputs (services & products) for customers (internal/external) Supply Chain Management - correct answer The synchronization of a firm's processes with those of its suppliers and customers to match the flow of materials, services, and information with customer demand. Process - correct answer Any activity or group of activities that takes one or more inputs, transfo...

According to the text, with increasing globalization, the role of location has become less important as a source of competitive advantage - correct answer False A 'Source factory' is set up in a location where along with low cost production, incentives & low trade barriers are used to serve the local market - correct answer False A 'Lead factory' is set up in a location to take advantage of local network of suppliers, competitors, and research facilities for components and products - c...

Which of the following is a primary reason for the accelerated pace of global interaction? a) trade barriers b) cultural differences c) language barriers d) advancements in information technology - correct answer d) advancements in information technology By improving the quality of goods and services produced, the _______ value of products and services is enhanced. a) aesthic b) environmental c) economic d) functional - correct answer d) functional Which of the following is ...

Operations Management - correct answer The business function responsible for planning, coordinating, and controlling the resources needed to produce products and services for a company. Role of Operations Management - correct answer To transform a company's inputs into the finished goods or services. Value Added - correct answer Describes the net increase between the final value of a product and the value of all the inputs. Efficiency - correct answer Being able to perform activities w...

What is the difference between efficiency and effectiveness? - correct answer Efficiency: operating at minimum cost and time Effectiveness: achieveing quality and timeliness and add value to organization What are the factors affecting productivity? - correct answer Labour, quality, equipment and technology, methods and management What are the three basic functions of an organization? - correct answer Operations: create goods and services Finance/accounting: provide funds and the econ...

Define Just-In-Time (JIT) - correct answer A highly coordinated system in which products are delivered or services are provided just as they are needed Define Lean Operation - correct answer A flexible system that uses minimum resources to produce high-quality products or services. What is the goal of a Lean operation system? - correct answer To create a balanced system where there is a rapid and smooth flow of products and services synchronized to meet demand. What are the three suppor...

The Strategic Importance of Location - correct answer Once committed to a location, many resource and cost issues are difficult to change The objective of location strategy - correct answer is to maximize the benefit of location to the firm Location and Costs - correct answer Location decisions require careful consideration Once in place, location-related costs are fixed in place and difficult to reduce Effort spent determining optimal facility location is a good investment Factors Th...