Operations and Supply Chain

Question 1

Processes

Answer 1

are well-confined, manageable series of activities

Question 2

Companies

Answer 2

systems of interconnected processes

Question 3

Operations Management

Answer 3

is the management of processes

Question 4

Responsible Operations Management

Answer 4

a process-based framework that aims at creating efficiency, zero resource consumption, and optimum stakeholder value through process effectiveness

–> crucial not only for the triple bottom line –> but also for the creation of stakeholder value

Question 5

Stakeholder value

Answer 5

created through the output of processes

–thus, processes must be designed to optimize stakeholder value

Question 6

Operations Management (OM)

Answer 6

addresses the design & management of products, processes, services, systems, and supply chains

–>It considers the acquisition, development, and use of resources –> that enterprises need to deliver, services, information, and tangible goods desired by the various customer & market segments they serve

Question 7

Purview of Operations Management

Answer 7

spans operational, tactical, and strategic levels

Question 8

Strategic Level (OM)

Answer 8

operations are concerned with such larger issues as the determination of facility locations and sizes; designing technology supply chains; and determination of service/telecommunications network structures

Question 9

Operational Level (OM)

Answer 9

issues addressed by OM include such important areas as materials acquisition, handling, and transportation; production planning & control; quality control; and logistic that include inventory management

Question 10

Tactical (OM)

Answer 10

facility layout and structure, equipment selection, maintenance, and replacement; and project management methods

Question 11

Operational Performance

Answer 11

describes the effectiveness & efficiency of processes for the production of goods & services

• -> Substantially driven by innovation & human capital
• ——> in turn, impacts: customer-related, financial, marketplace, societal, and environmental performance

Question 12

Excellence Operational Performance

Answer 12

must combine EXCELLENT triple bottom line outcomes, optimum stakeholder value, and moral excellence in all processes

Question 13

Responsible Enterprise Excellence

Answer 13

refers to above-average operational performance for the triple bottom line, stakeholder value, and moral excellence

–> Employs the systematic use of QUALITY MANAGEMENT strategies, principles, practices, and tools –> in the management of the enterprise w/ the objective of improving performance

Question 14

Enterprise Excellence

Answer 14

are customer focus, stakeholder value, and a strong emphasis on process management

Question 15

Key Enterprise Excellence Practices

Answer 15

incremental continuous improvement, breakthrough improvement, preventative management, and management by facts

Question 16

Sustainable Enterprise Excellence (SEE)

Answer 16

to formulate & effectively execute strategy leading to continuously relevant & responsible actions and results
–> that benefit ALL organizational stakeholders, including economic benefit for the organization itself

–> SEE coherently connect the kernels of the sustainability & enterprise excellence movements –> as a means of delivering responsible competitiveness

Question 17

Primarily goal of SEE

Answer 17

may be regarded as one of efficiently, effectively, and profitably transforming sustainability strategy into sustainability results