Operations Management Review 1

Is the science and art of ensuring that goods and services are created and delivering successfully to customers

• Operations Management

• Strategic Management

• Logistics

• Analytics

The three issues at the core of operations management are efficiency, cost, and quality.

• True

• False

Efficiency, Cost, and Quality all three contribute to the profitability, long run success, and customer satisfaction

• True

• False

Nondurable goods are products that don't wear out and lasts 3 or more years

• True

• False

Operation Managers do

• Forecasting and Resource management

• Supply Chain management and Quality management

• Scheduling and Purchasing

• Technology Selection and Service Encounter

• All of the above

Another name for enterprise system, includes HR, Procure, Finance, and Logistics.

• Value

• Data Mining

• Decoupling

• Big Data

Extracting a certain piece of information to find a pattern

• Big Data

• Data Mining

• Value

• Sustainability

Is the perception of the benefits associated with a good, service, or bundle of goods and services in relation to what buyers are willing to pay for them

• Big Data

• Supply

• Value

• Decoupling

What is the difference between innovation and change?

• Innovation involves making adjustments, change is tweaking or creating new and unique services

• Innovation involves creating, acquiring, and transferring knowledge, and modifying something, change is is creating new and unique services

• Innovation is creating new and unique services and involves tweaking, change is modifying and fixing something

Which of the following is a direct benefit of having an efficient logistics department?

• Products arrive exactly when needed

• Labour productivity will reduce

• Efficiency will be minimised

• Staff motivation will increase