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Operations and Supply Chain Management > Module 1 > Flashcards

Module 1 Flashcards

1
Q

What term refers to the systematic design, direction, and control of processes that transform inputs into services and products for both internal and external customers.

A

Operations Management

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2
Q

As exemplified by Disney, what can be a source of competitive advantage for firms in both service and manufacturing sectors.

A

Operations Management

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3
Q

Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers is known as

A

Process

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4
Q

A group of resources performing all or part of one or more processes is known as a

A

Operation

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5
Q

An interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers is known as a

A

Supply Chain

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6
Q

The synchronization of a firm’s processes with those of its suppliers and customers to match the flow of materials, services, and information with customer demand is known as

A

Supply Chain Management

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7
Q

T/F- In manufacturing firms, the head of operations usually holds the title chief operations officer (COO) or vice president of manufacturing (or of production or operations).

A

True

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8
Q

Based on business strategy, the finance and operations functions then decide how to invest these resources and convert them into physical assets and material inputs. Operations subsequently transforms these material and service inputs into product and service outputs.

A
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9
Q

Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers.

A

Process

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10
Q

A group of resources performing all or part of one or more processes.

A

Operation

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11
Q

An interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers.

A

Supply Chain

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12
Q

The synchronization of a firm’s processes with those of its suppliers and customers to match the flow of materials, services, and information with customer demand.

A

Supply Chain Management

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13
Q

What major function of business acquires financial resources and capital for inputs

A

Finance

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14
Q

What major function of business translates materials and services into outputs

A

Operations

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15
Q

What major business function generates sales of outputs

A

Marketing

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16
Q

A customer who is either an end user or an intermediary (e.g., manufacturers, financial institutions, or retailers) buying the firm’s finished services or products. Is known as?

A

External Customers

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17
Q

One or more employees or processes that rely on inputs from other employees or processes to perform their work. Is known as?

A

Internal Customers

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18
Q

The businesses or individuals who provide the resources, services, products, and materials for the firm’s short-term and long-term needs. This is known as

A

External Suppliers

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19
Q

The employees or processes that supply important information or materials to a firm’s processes is known as

A

Internal Suppliers

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20
Q

Processes can be broken down into subprocesses, which in turn can be broken down further into still more subprocesses. We refer to this concept of a process within a process as a

better known as the concept of process within a process

A

Nested Process

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21
Q

What are the two major types of processes?

A

Service
Manufacturing

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22
Q

What type of processes pervade the business world and have a prominent place in our discussion of operations management

A

Services

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23
Q

What processes are important; without them the products we enjoy as part of our daily lives would not exist.

A

Manufacturing

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24
Q

What are the 2 main differences between service and manufacturing processes?

A

1) the nature of their output
2) the degree of customer contact

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25
Q

T/F- manufacturing processes also have longer response times, are more capital intensive, and their quality can be measured more easily than those of service processes.

A

True

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26
Q

T/F-Service processes tend to produce intangible, perishable outputs. For example, the output from the auto loan process of a bank would be a car loan, and an output of the order fulfillment process of the U.S. Postal Service is the delivery of your letter.

A

True

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27
Q

A set of activities that delivers value to external customers is known as

A

Core Process

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27
Q

What are the two main types of processes in the supply chain?

A

1) Core Processes
2) Support Processes

28
Q

A process that selects the suppliers of services, materials, and information and facilitates the timely and efficient flow of these items into the firm. This is known as

A

Supplier Relationship Process

29
Q

A process that designs and develops new services or products from inputs received from external customer specifications or from the market in general through the customer relationship process. This is known as?

A

New Service/ Product Development Process

30
Q

A process that includes the activities required to produce and deliver the service or product to the external customer.

A

Order Fulfillment Process

31
Q

A process that identifies, attracts, and builds relationships with external customers and facilitates the placement of orders by customers, sometimes referred to as customer relationship management. Is known as

A

Customer Relationship Process

32
Q

A process that provides vital resources and inputs to the core processes and therefore is essential to the management of the business. Is known as?

A

Support Process

33
Q

Business processes that have external customers or suppliers. Is known as?

A

Supply Chain Processes

34
Q

Exploring available suppliers for the best options to perform processes in terms of price, quality, delivery time, environmental issues is known as

A

Outsourcing

35
Q

Providing information to answer questions or resolve problems using automated information services as well as voice-to-voice contact with customers is known as

A

Customer Service

36
Q

Receiving shipments from suppliers, verifying quality, placing in inventory, and reporting receipt for inventory records is known as

A

Warehousing

37
Q

Selecting transportation mode (train, ship, truck, airplane, or pipeline) scheduling both inbound and outbound shipments, and providing intermediate inventory storage is known as

A

Logistics

38
Q

Selecting, certifying, and evaluating suppliers and managing supplier contracts is known as

A

Sourcing

39
Q

Packing of products of incoming shipments so they can be easily sorted more economically at intermediate warehouses for outgoing shipments to their final destination is known as

A

Cross-docking

40
Q

The means by which operations implements the firm’s corporate strategy and helps to build a customer-driven firm. is known as

A

Operation Strategy

41
Q

Which strategy coordinates the firm’s overall goals with its core processes.

A

Corporate strategy

42
Q

What type of analysis coordinates the firm’s overall goals with its core processes?

A

Market Analysis

43
Q

What type of priorities help managers develop the services or products and the processes needed to be competitive in the marketplace.

A

Competitive Priorities

44
Q

T/F-Competitive priorities are important to the design of existing as well as new services or products, the processes that will deliver them, and the operations strategy that will develop the firm’s capabilities to fulfill them.

A

True

45
Q

What four considerations are used while developing a corporate strategy?

A

Environmental Scanning

identifying and developing Core Competencies

Developing firm’s core processes

Developing the firm’s global strategy

46
Q

monitoring and adjusting to changes in the business environment is known as
(also used to stay ahead of competition)

A

Environmental Scanning

47
Q

The unique resources and strengths that an organization’s management considers when formulating strategy. is known as

A

core competencies

48
Q

What are the 4 examples of core competencies

A

Workforce
Facilities
Market and Financial Know How
Systems and Tech

49
Q

The elapsed time between the receipt of a customer order and filling it is known as

A

Lead Time

50
Q

the process of identifying groups of customers with enough in common to warrant the design and provision of services or products that the group wants and needs is known as

A

Market segmentation

51
Q

the critical operational dimensions a process or supply chain must possess to satisfy internal or external customers, both now and in the future.is known as

A

Competitive Priorities

52
Q

T/F- Competitive priorities are planned for processes and the supply chain created from them

A

True

53
Q

The cost, quality, time, and flexibility dimensions that a process or supply chain actually possesses and is able to deliver. is known as

A

Competitive Capabilities

54
Q

What are the 9 broad competitive priorities that fall under the 4 competitive capabilities group?

A

Cost:
Low-cost operations
Quality:
Top
Consistent
Time:
Delivery Speed
On-Time Delivery
Development Speed
Flexibility:
Customization
Variety
Volume Flexibikity

55
Q

A strategy that focuses on the competitive priorities of delivery speed and development speed is known as

A

Time-Based Competition

56
Q

A criterion customers use to differentiate the services or products of one firm from those of another.

A

Order Winner

57
Q
A
58
Q

Minimal level required from a set of criteria for a firm to do business in a particular market segment.

A

Order Qualifier

59
Q

The value of outputs (services and products) produced divided by the values of input resources (wages, costs of equipment, etc.). is known as

A

Productivity

60
Q

The interconnectivity of objects, embedded with software, sensors, and actuators that enable these objects to collect and exchange data over a network without requiring human intervention is known as

A

Internet of Things

61
Q

T/F-Break-even analysis helps the manager identify how much change in volume or demand is necessary before a second alternative becomes better than the first alternative.

A

True

62
Q

The use of the break-even quantity; it can be used to compare processes by finding the volume at which two different processes have equal total costs. is known as the

A

Break-even analysis

63
Q

A technique for systematically changing parameters in a model to determine the effects of such changes. is known as

A

Sensitivity Analysis

64
Q

Manufacturing processes usually have:
A) customers in the production process
B) high levels of customer contact.
C) physical, durable output.
D) output that cannot be inventoried.
E) fuzzy definitions of quality

A

C) physical, durable output.

65
Q

Which of the following is not a primary activity according to Porter’s conception of firm value creation?
A) service
B) production
C) outbound logistics
D) procurement
E) marketing & sales

A

D) procurement

66
Q

According to the M1 lecture and course notes, what are the two ends of the spectrum for how good and services are produced?

A

Craft and Mass

67
Q

Which of the following are a basic management activity of the SCOR model?
A) Make
B) Source
C) Deliver
D) Plan
E) All of the above

A

E) All of the above

Operations and Supply Chain Management (5 decks)

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