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OM |! 300 |! Exam |! 1 |! with |! correct |! detailed
|! solutions
operations |! management |! - |! Correct |! answer |! ✔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 |! answer |! ✔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 |! inventory, |! similar |! products |! produced, |! limited |! customer |! involvement |! in |! production, |! product |! standardized, |! standard |! tangible |! product |! tends |! to |! make |! automation |! feasible, |! product |! typically |! produced |! at |! a |! fixed |! facility, |! many |! aspects |! of |! quality |! for |! tangible |! products |! are |! easy |! to |! evaluate, |! product |! often |! has |! some |! residual |! value Explain |! the |! difference |! between |! production |! and |! productivity |! - |! Correct |! answer |! ✔production: |! a |! measure |! of |! output |! ONLY |! and |! NOT |! a |! measure |! of |! efficiency
-a |! creation |! of |! goods |! and |! services |! -productivity: |! the |! ratio |! of |! output |! (goods |! and |! services)/ |! the |! input |! (labor |! and |! capital). |! (labor |! productivity= |! units |! produced/labor |! hours |! used) |! -The |! objective |! is |! to |! improve |! productivity. single-factor |! productivity |! - |! Correct |! answer |! ✔(Units |! produced/Input |! used) multi-factor |! productivity |! - |! Correct |! answer |! ✔(Output/ |! Labor |! + |! Material |! + |! Energy |! + |! Capital |! + |! Misc.) Role |! of |! Operations |! - |! Correct |! answer |! ✔-manages |! people, |! equipment, |! technology, |! materials, |! and |! information -produces |! goods |! or |! services Strategic |! vs |! Tactical |! level |! decisions |! - |! Correct |! answer |! ✔Strategic |! Decisions -broad |! in |! scope -long-term |! in |! nature -all |! encompassing
-represents |! output |! relative |! to |! input -Only |! through |! productivity |! increases |! can |! our |! standard |! of |! living |! improve Labor |! Productivity -Units |! produced/labor-hours |! used -one |! resource |! input |! à |! single |! factor |! productivity Multi-Factor |! Productivity (Output/ |! Labor |! + |! Material |! + |! Energy |! + |! Capital |! + |! Misc.) -Outputs |! and |! inputs |! are |! often |! expressed |! in |! dollars Service |! Productivity |! - |! Correct |! answer |! ✔-Usually |! labor |! intensive -Frequently |! focused |! on |! unique |! individual |! attributes |! or |! desires -often |! an |! intellectual |! task |! performed |! by |! professionals -often |! difficult |! to |! mechanize -often |! difficult |! to |! evaluate |! for |! quality 6 |! Reasons |! to |! Globalize |! - |! Correct |! answer |! ✔-Improve |! the |! supply |! chain -Reduce |! costs |! and |! exchange |! rate -Improve |! operations -understand |! markets
-improve |! products -attract |! and |! retain |! global |! talent Mission |! definition |! - |! Correct |! answer |! ✔-Where |! an |! organization |! is |! going |! -a |! company's |! purpose, |! what |! it |! will |! contribute |! to |! society -provide |! boundaries |! and |! focus |! for |! organizations |! and |! the |! concept |! around |! which |! a |! firm |! can |! rally -states |! the |! rationale |! for |! the |! organization's |! existence Strategy |! - |! Correct |! answer |! ✔-How |! the |! organization |! gets |! to |! where |! it |! wants |! to |! go -an |! organization's |! action |! plan |! to |! achieve |! the |! mission -functional |! areas |! have |! strategies -exploit |! opportunities |! and |! strengths, |! neutralize |! threats, |! and |! avoid |! weaknesses Operations |! Strategy |! - |! Correct |! answer |! ✔Differentiation |! (Quality) -Better |! (or |! at |! least |! different) -Going |! beyond |! both |! physical |! characteristics |! and |! service |! attributes |! to |! encompass |! everything |! about |! the |! product |! or |! service |! that |! influences |! the |! value |! that |! the |! customers |! derive |! from |! it. -in |! the |! service |! sector--> |! experience |! differentiation
growth |! phase -product |! design |! begins |! to |! stabilize -effective |! forecasting |! of |! capacity |! requirements |! become |! necessary -adding |! or |! enhancing |! capacity |! to |! accommodate |! the |! increase |! in |! product |! demand |! may |! be |! necessary. maturity |! phase -competitors |! are |! now |! established -high |! volume, |! innovative |! production |! may |! be |! appropriate -improved |! cost |! control, |! reduction |! in |! options, |! and |! paring |! down |! of |! product |! line decline |! phase -unless |! product |! makes |! a |! special |! contribution |! to |! the |! organization's |! reputation |! or product |! line |! or |! can |! be |! sold |! with |! an |! unusually |! high |! contribution, |! the |! production |! should |! be |! terminated Product-by-Value |! Analysis |! - |! Correct |! answer |! ✔-lists |! products |! in |! descending |! order |! of |! their |! individual |! dollar |! contribution |! to |! the |! firm. -It |! also |! lists |! the |! total |! annual |! contribution |! of |! the |! product. -helps |! management |! evaluate |! alternative |! strategies
Product |! Development |! System |! - |! Correct |! answer |! ✔1)Concept- |! ideas |! from |! many |! sources 2)Feasibility-does |! firm |! have |! the |! ability |! to |! carry |! out |! idea 3)Customer |! Requirements- |! communicate |! with |! customers |! to |! find |! out |! what |! they |! find |! attractive 4)Functional |! Specifications-how |! the |! product |! will |! work 5)Product |! Specifications- |! how |! the |! product |! will |! be |! made 6)Design |! Review-are |! these |! product |! specifications |! the |! best |! way |! to |! meet |! customer |! requirements? 7)Test |! Market-does |! product |! meet |! customer |! expectations? 8)Introduction |! to |! market- |! training, |! promotion, |! and |! channel |! decisions 9)Evaluation- |! success |! or |! failure? Quality |! Function |! Deployment |! (QFD) |! - |! Correct |! answer |! ✔-refers |! to |! both |! determining |! what |! will |! satisfy |! the |! customer |! and |! translating |! those |! customer |! desires |! into |! the |! target |! design House |! of |! Quality |! - |! Correct |! answer |! ✔a |! graphic |! technique |! for |! defining |! the |! relationship |! between |! customer |! desires |! and |! product |! (or |! service) |! 1)Identify |! customer |! wants |! 2)identify |! how |! the |! good/service |! will |! satisfy |! customer |! wants |! 3)Relate |! customer |! wants |! to |! product |! hows
Computer-Aided |! Design |! (CAD) |! - |! Correct |! answer |! ✔-the |! use |! of |! computers |! to |! interactively |! design |! products |! and |! prepare |! engineering |! documentation. -shorter |! development |! cycles, |! improved |! accuracy, |! lower |! cost -information |! and |! designs |! can |! be |! deployed |! worldwide -uses |! 3D |! drawing |! to |! save |! time |! and |! money |! by |! shortening |! development |! cycles |! for |! virtually |! all |! products -makes |! review |! of |! numerous |! options |! possible |! before |! final |! commitments |! are |! made -CAM |! extension |! of |! CAD Computer-aided |! Manufacturing |! (CAM) |! - |! Correct |! answer |! ✔-refers |! to |! the |! use |! of |! specialized |! customer |! programs |! to |! direct |! and |! control |! manufacturing |! equipment. -3D |! printing |! is |! an |! extension Virtual |! Reality |! technology |! - |! Correct |! answer |! ✔-A |! visual |! form |! of |! communication |! in |! which |! images |! substitute |! for |! the |! real |! thing |! but |! still |! allow |! the |! user |! to |! respond |! interactively -roots |! are |! in |! CAD
Value |! Analysis |! - |! Correct |! answer |! ✔-seeks |! improvements |! that |! lead |! to |! either |! a |! better |! product, |! a |! product |! made |! more |! economically, |! or |! a |! product |! with |! less |! environmental |! impact -taking |! place |! while |! the |! product |! is |! being |! produced Guidelines |! for |! Environmentally |! friendly |! design |! - |! Correct |! answer |! ✔1)Make |! products |! recyclable 2)use |! recycled |! materials 3)use |! less |! harmful |! ingredients |! 4)use |! lighter |! components 5)use |! less |! energy 6)use |! less |! material Breakeven |! Analysis |! - |! Correct |! answer |! ✔-finds |! the |! point, |! in |! dollars |! and |! units, |! at |! which |! costs |! equal |! revenue. [Total |! fixed |! cost/(price-variable |! cost)] Crossover |! Chart |! - |! Correct |! answer |! ✔-A |! chart |! of |! costs |! at |! the |! possible |! volumes |! for |! more |! than |! one |! process Decision |! Tree |! - |! Correct |! answer |! ✔-At |! a |! chance |! node, |! the |! market |! for |! the |! new |! product |! could |! be |! either |! favorable |! (F) |! or |! unfavorable |! (U)
Bill |! of |! Material |! (BOM) |! - |! Correct |! answer |! ✔-lists |! the |! hierarchy |! of |! components, |! their |! description, |! and |! the |! quantity |! of |! each |! required |! to |! make |! one |! unit |! of |! a |! product. Process |! Chain |! Network |! (PCN) |! Analysis |! - |! Correct |! answer |! ✔-a |! design |! process |! to |! determine |! the |! best |! level |! of |! interaction |! between |! firms |! and |! their |! customers Documents |! for |! Services |! - |! Correct |! answer |! ✔-high |! levels |! of |! customer |! interaction |! necessitates |! different |! documentation -often |! explicit |! job |! instructions |! for |! moments-of-truth -scripts |! and |! storyboards |! are |! other |! techniques Process |! Strategies |! - |! Correct |! answer |! ✔-an |! organization's |! approach |! to |! transforming |! resources |! into |! goods |! and |! services Four |! Types |! of |! Processes |! - |! Correct |! answer |! ✔1)Process |! Focus 2)Repetitive |! Focus 3)Product |! Focus 4)Mass |! Customization
Process |! Focus |! - |! Correct |! answer |! ✔-provide |! a |! high |! degree |! of |! product |! flexibility |! as |! products |! move |! between |! the |! specialized |! processes a)small |! quantity |! and |! large |! variety |! of |! products b)broadly |! skilled |! operators c)instructions |! for |! each |! job d)high |! inventory e)finished |! goods |! are |! made |! to |! order |! and |! not |! stored f)scheduling |! is |! complex g)fixed |! costs |! are |! low |! and |! variable |! costs |! high Repetitive |! Focus |! - |! Correct |! answer |! ✔-classic |! assembly |! line -has |! more |! structure |! and |! consequently |! less |! flexibility |! than |! a |! process- focused |! facility a)long |! runs, |! a |! standardized |! product |! from |! modules b)moderately |! trained |! employees c)few |! changes |! in |! job |! instructions d)low |! inventory e)finished |! goods |! are |! made |! to |! frequent |! forecasts f)scheduling |! is |! routine g)fixed |! costs |! are |! dependent |! on |! flexibility |! of |! facility
LECTURE |! 12 |! - |! Correct |! answer |! ✔ Machine |! Technology |! - |! Correct |! answer |! ✔-undergoing |! tremendous |! progress |! in |! both |! precision |! and |! control -higher |! productivity -smaller |! size -uses |! less |! power -more |! sustainable -electronic |! controls |! increase |! speed |! of |! production |! via |! CNC |! machines |! by |! -cutting |! changeover |! time |! -reducing |! waste |! by |! making |! less |! mistakes |! -enhancing |! flexibility Automatic |! Identification |! systems |! (AIS) |! - |! Correct |! answer |! ✔-improved |! data |! acquisition -reduced |! data |! entry |! errors -increased |! speed -increased |! scope |! of |! process |! animation Process |! Control |! - |! Correct |! answer |! ✔-real-time |! monitoring |! and |! control |! of |! processes
-sensors |! collect |! data -devices |! read |! data |! on |! a |! periodic |! basis -measurements |! translated |! into |! digital |! signals |! then |! sent |! to |! a |! computer -computer |! programs |! analyze |! the |! data -the |! resulting |! output |! may |! take |! numerous |! forms |! -messages |! to |! computer |! consoles/printers |! -signals |! to |! motors |! to |! change |! value |! settings |! -warning |! lights |! or |! horns |! -statistical |! process |! control |! charts Vision |! System |! - |! Correct |! answer |! ✔-particular |! aid |! to |! inspection -consistently |! accurate -don't |! become |! bored -modest |! cost -superior |! to |! individuals |! performing |! the |! same |! task Robot |! - |! Correct |! answer |! ✔-perform |! monotonous |! or |! dangerous |! tasks -perform |! tasks |! that |! can |! be |! improved |! by |! the |! substitution |! of |! mechanical |! effort |! rather |! than |! human |! effort |! -when |! consistency, |! accuracy, |! speed, |! strength, |! or |! power |! are |! required
-Utilities |! and |! Government: |! Automated |! one-man |! garbage |! trucks, |! optical |! mail |! and |! bomb |! scanners, |! flood |! warning |! systems, |! meters |! allowing |! homeowners |! to |! control |! energy |! usage |! and |! costs -Restaurants |! and |! foods: |! wireless |! orders |! from |! waiters |! to |! kitchen, |! robot |! butchering, |! transponders |! on |! cars |! that |! track |! sales |! at |! drive- throughs -Communications: |! interactive |! TV, |! ebooks |! via |! Kindle -Hotels: |! Electronic |! check-in/check-out, |! electronic |! key/lock |! system, |! mobile |! web |! booking -Wholesale/retail |! trade: |! ATM |! like |! kiosks, |! Point |! of |! sale |! terminals, |! e- commerce, |! electronic |! communication |! between |! store |! and |! supplier, |! bar |! coded |! data, |! RFID -Transportation: |! Automatic |! toll |! booths, |! satellite-directed |! navigation |! systems, |! WiFi |! in |! automobile -Health |! Care: |! Online |! patient-monitoring, |! online |! medical |! information |! systems, |! robotic |! surgery
-Airlines: |! ticketless |! travel, |! scheduling, |! internet |! purchases, |! boarding |! passes |! 2D |! barcodes |! on |! smartphones Types |! of |! Models |! - |! Correct |! answer |! ✔Mental |! models -should |! you |! drive |! through |! a |! yellow |! traffic |! light |! or |! slow |! down? -if |! I |! decide |! to |! drive |! through |! the |! light, |! are |! there |! police |! around |! to |! catch |! me? |! If |! i |! try |! to |! quickly |! stop, |! will |! I |! be |! hit |! by |! another |! car? Visual |! models -blueprints |! for |! a |! building physical |! models -scale |! replicas Mathematical |! models -spreadsheet |! models Mathematical |! Model |! Characteristics |! - |! Correct |! answer |! ✔-usually |! motivated |! by |! a |! decision -inputs |! -quantities |! or |! factors |! that |! affect |! a |! decision |! -Controllable |! inputs |! (decision |! variables)
