Om 300 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 Verified Study Questions And Answers What is TQM? ANS quality emphasis that encompasses the entire organization, from supplier to customer Managing quality supports: ANS differentiation, low cost, and response strategies How does quality improve profitability? ANS Quality increases sales gains and reduces costs Quality increases sales gains through what measures? ANS 1. Improved response 2. Flexible Pricing 3. Improved Reputation

OM 300 Exam 1 Nunnelley Complete Questions And Answers What are the different levels of analytics? ANS -Optimization -What's the best decision? -Predictive Modeling -What will or could happen? -Forecasting -What if these trends continue? -Statistical Analysis -Why is this happening? Examples: -Identifying profitable and loyal customers -Determining the optimal price for a product or service -Finding the lowest possible level of inventory without reducing availability to the ...

OM 300 Exam 2 Chillcut Questions And Answers With Real Tests Product Life Cycle ANS 1. Introductory Phase 2. Growth Phase 3. Maturity Phase 4. Decline Phase Introductory Phase ANS Fine tuning may warrant unusual expenses for Research, Product development, Process modification and enhancement, & Supplier development Growth Phase ANS Product design begins to stabilize, Effective forecasting of capacity becomes necessary, Adding or enhancing capacity may be necessary

OM 300 Chilcutt Exam 1 Questions And Answers With Verified Solutions Operations Management ANS the set of activities that create value in the form of goods and services by transforming inputs into outputs Marketing ANS generates demand accounting ANS tracks how well the organization is doing, pays bills, and collects money operations ANS creates the product supply chain ANS a global network of organizations and activities that supply a firm with goods and services. --Farm to f...

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 CHILCUTT EXAM 1 NEWEST ACTUAL EXAM COMPLETE 76+ QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

OM 300 Nunnelly Exam 3 Questions And Answers Rated A+ One use of inventory is A. to tightly synchronize production and distribution processes. B. to provide a hedge against inflation. C. to tightly synchronize a firm's production with its customers' demand. D. to ensure that item cost is maximized. ANS B The objective of inventory management is to A. decouple various parts of the production process. B. provide a selection of goods for anticipated customer demand. C. take advantage ...

OM 300 Chapter 1-4 Questions And Answers With Verified Solutions The creation of goods and services is referred to as _______ ANS production Which of the following are considered to be the three primary functions that all organizations perform? ANS marketing, production/operations, finance/accounting Which of the following activities at an airline is NOT an operations activity? ANS sales Supply chains are comprised of organizations and activities that supply a firm with goods and se...

OM 300 CHILCUTT EXAM 1 2024 WITH 100% ACCURATE SOLUTIONS Which of the following is NOT considered to be one of the three primary functions that all organizations perform? A.marketing B. finance/accounting C. research and development D. production/operations - correct answer C. Research and Development Which of the following activities at a commercial bank is NOT an operations activity? A. auditing B. maintenance C. check clearing D. security - correct answer A. Au...