Gms 401 Study guides, Class notes & Summaries

American Society for Quality defines quality as: - the totality of features and characteristics of a product or service that bears on its ability to satisfy stated or implied needs. An operations manager's job is to: - build a total quality management system that identifies and satisfies customer need. 4 possible "causes" of quality problems - Material, Machinery, Manpower, and Methods 6 Supply Chain Strategies for goods and services to be obtained from outside sources - 1. negotiating ...

GMS 401 Final Exam With 100% Correct And Verified Answers 2024

GMS 401 MIDTERM 2 EXAM QUESTIONS AND ANSWERS 100% CORRECT What is Managing Quality? - Answer- Managing quality supports differentiation, low cost, and response strategies What does quality do? - Answer- Quality helps firms increase sales and reduce costs Quality Definition - Answer- The totality of features and characteristics of a product or service that bears on its ability to satisfy stated or implied needs. Quality improves Profitability through sales gains by? - Answer- 1. improved r...

Management - ANSWER-the process by which objectives are achieved through the use of the resources operations - ANSWER-those activities within an organization that are directly related to providing goods or services by transforming inputs into outputs What operations managers do - ANSWER--planning -organizing -staffing -leading -controlling Three basic functions - ANSWER-1. operations 2. finance 3. marketing Pareto Phenomenon - ANSWER-80% of the consequences come from 20% of ...

GMS 401 Final exam latest guide 2024 complete Production the creation of goods and services Operations Management Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain A global network of organizations and activities that supply a firm with goods and services Services Economic activities that typically produce an intangible product (such as education, entertainment, lodging, government, financial, and health services...

Production - ANSWER the creation of goods and services Operations Management - ANSWER Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - ANSWER A global network of organizations and activities that supply a firm with goods and services Services - ANSWER Economic activities that typically produce an intangible product (such as education, entertainment, lodging, government, financial, and health services) Service ...

4 Reasons to Study OM - 1) study how people organize themselves for a productive enterprise 2) to know how goods and services are produced 3) to understand what operations managers do 4) Because it is a costly part of an organization Operations Management - set of activities that create value (goods/services) by transforming inputs into outputs - discipline applied to any org activity - costly part of organization - opportunity to improve profitability and enhance service to society Cha...

GMS 401 Final exam latest guide 2024 complete Production ANS-the creation of goods and services Operations Management ANS-Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain ANS-A global network of organizations and activities that supply a firm with goods and services Services ANS-Economic activities that typically produce an intangible product (such as education, entertainment, lodging, government, financial, and h...

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GMS 401 Midterm: Chapters 1-5 Questions and Answers How many of Characteristics of Operations are there? - Answer- 5 1st Characteristic of Operations - Answer- Accounts for largest share of the personnel and fixed capital investment 2nd Characteristic of Operations - Answer- Runs 24/7 and must be managed continously 3rd Characteristic of Operations - Answer- Complex system with the best technology 4th Characteristic of Operations - Answer- Management is information intensive and require...