Operations Management Quiz No. 1

What is primarily focused on ensuring that goods and services are created and delivered successfully to customers?

• Marketing Management

• Financial Management

• Operation Management (OM)

• Human Resource Management

What describes a network of facilities and processes that outlines the flow of materials, finished goods, services, information, and financial transactions from suppliers through to customers?

• Supply Chain

• Value Chain

• Distribution Network

• Logistics System

Which type of physical product does not quickly wear out and typically lasts for at least three years?

• Nondurable Goods

• Durable Goods

• Capital Goods

• Consumer Goods

What role do Operations Managers play in predicting future demand for products or services to optimize production and inventory levels?

• Scheduling

• Forecasting

• Inventory Control

• Quality Assurance

What refers to a customer's assessment of the advantages or satisfaction derived from a good or service compared to its cost, influencing their purchasing decision?

• Perceived Costs

• Perceived Benefits

• Customer Satisfaction

• Market Share

Who are individuals or groups within an organization who rely on others within the same organization for goods or services?

• External Customers

• Internal Customers

• Suppliers

• Stakeholders

Who purchases or uses an organization's products or services outside the organization?

• Internal Customers

• External Customers

• Suppliers

• Stakeholders

Which processes focus on producing or delivering an organization's primary goods or services that create value for customers, such as order fulfillment or product assembly?

• Support Processes

• Core Processes

• Administrative Processes

• Strategic Planning

Which portion of the value chain focuses primarily on the physical movement of goods and materials along with supporting flows of information and financial transactions throughout production and distribution processes?

• Supply Chain

• Marketing Channel

• Distribution Channel

• Logistics System

What type of physical product is consumed quickly or has a lifespan of less than three years, such as food items or toiletries?

• Capital Goods

• Consumer Durables

• Nondurable Good

• Intermediate Products