Chap 1 Operations And Productivity

Question 0

Operations management

Answer 0

Activities that relate to the creation of goods and services through the transformation of inputs to outputs.

Question 1

Production

Answer 1

The creation of goods and services.

Question 2

Supply chain

Answer 2

A global network of organizations and actives that supplies a firm with goods and services.

Question 3

10 strategic OM decisions

Answer 3

Design of goods and services
Managing quality
Process strategy
Location strategies 
Layout strategies 
Human resources 
Supply-chain management 
Inventory management
Scheduling 
Maintenance

Question 4

Services

Answer 4

Economic activity that typically produce an intangible product (such as education, entertainment, lodging, government, financial, and health services)

Question 5

Service sector

Answer 5

The segment of the economy that include trade, finance, lodging, education, legal, medical, and other professional occupations.

Question 6

Productivity

Answer 6

The ratio of outputs (goods and services) divided by one or more inputs (such as labor, capital, or management).

Question 7

Single-factor productivity

Answer 7

Indicates the ratio of one resource (inputs) to the goods and services products (outputs).

Question 8

Multifactor productivity

Answer 8

Indicates the ratio of many or all resources (inputs) to the goods and services produced (outputs)

Question 9

Productivity variables

Answer 9

The three factor critical to productivity improvement -labor, capital, and the art and science of management

Question 10

Knowledge society

Answer 10

A society in which much of the labor force has migrated from manual work to work based on knowledge

Question 11

Stakeholders

Answer 11

Those with a vested interest in an organization, including customers, distributors, suppliers, owners, lenders, employees and community members