prelim

Question 1

responsible for producing goods and or services

Answer 1

operations

Question 2

activities that provide a combination of time, location, form, and physical value

Answer 2

services

Question 3

physical items inclusive of raw materials

Answer 3

goods

Question 4

3 basic functions

Answer 4

finance
operations
marketing

Question 5

responsible for securing and providing funds

Answer 5

finance

Question 6

heart of the business

Answer 6

operations

Question 7

responsible for creating products and sevices

Answer 7

operations

Question 8

responsible for promoting and selling

Answer 8

marketing

Question 9

inputs

Answer 9

material
labor
capital
land
information

Question 10

outputs

Answer 10

products
services
goods

Question 11

tangible products

Answer 11

production of goods

Question 12

implies and act or intangible outputs

Answer 12

delivery of service

Question 13

strategic areas of operation management

Answer 13

strategic operation management
product/service design
supply chain management
quality management

Question 14

• creating value to customers
• competitive advantage

Answer 14

strategic operation management

Question 15

• purpose and functionality
• features
• benefits

Answer 15

product/service design

Question 16

the order of supply chain management

Answer 16

suppliers - manufacturer - distributors - wholesalers - retailers

Question 17

consistent of the supply

Answer 17

quality management

Question 18

trends in operation management

Answer 18

focus of well-being of the employees
safety and security for employees
automating manual processes
go green (sustainability)

Question 19

4 key purchasing criteria

Answer 19

quality
price
delivery
variety

Question 20

4 competitive priorities

Answer 20

quality
cost
timeliness
flexibility

Question 21

minimum requirements

Answer 21

order qualifier

Question 22

go beyond the minimum requirements

Answer 22

order winner

Question 23

tangible and intangible

Answer 23

resources

Question 24

tangible and intangible

Answer 24

resources

Question 25

abilities that a business can offer

Answer 25

capabilities

Question 26

2 best core competencies

Answer 26

resources
capabilities

Question 27

3 competitive advantages

Answer 27

superior value
it is rare
very difficult to copy

Question 28

a measure of the effective use of resources

Answer 28

productivity