1: Introduction to Operations

Question 1

Operations

Answer 1

Take inputs in the form of resources and convert them into outputs in the form of products and services.

Question 2

Operations management

Answer 2

The business function responsible for planning, coordinating and controlling the resources needed to produce a company’s products and services.

Question 3

Primary inputs

Answer 3

Resources that the process transforms directly. Owned by the firm.

Question 4

Secondary inputs

Answer 4

Resources needed to facilitate the transformation of primary resources into outputs. Owned by the firm.

Question 5

Tertiary inputs

Answer 5

Information needed to plan, execute and control the use of primary and secondary resources so that the primary transformation can be carried out.

Question 6

Aim of operations

Answer 6

To deliver goods and/or services that meet clients’/customers’ needs.

Question 7

Objective of operations

Answer 7

To deliver the goods and/or services sufficiently in an efficient, effective and innovative manner to ensure long-term competitive advantage.

Question 8

Four Vs

Answer 8

Volume (of demand from customers)
Variety (of tasks performed to create the product/service)
Variation (in demand from customers, over time)
Visibility (of staff from the POV of the customers)

Question 9

Competitive objectives of the operations function

Answer 9

Quality
Speed
Dependability
Flexibility
Cost