Test 1

Question 1

Operations management

Answer 1

ensuring that goods and services are created and delivered successfully to customers (design, management and improvement)

Question 2

3 issues at the core or operations management

Answer 2

efficiency, cost, quality

Question 3

What does he say are some vc?

Answer 3

labor, taxes, etc

Question 4

The economics of outsourcing

Answer 4

basically, what are the differences in the variable costs

Question 5

COPQ

Answer 5

Cost of Port Quality (shoe example)

Question 6

EDI

Answer 6

Electronic Data Interchange- how big retailers order products

Question 7

problem with economic sustainability

Answer 7

it contradicts the short-term profit goals that most businesses strive for

Question 8

In the example of a textbook, what is the good and what is the service

Answer 8

good=knowledge

service= delivery

Question 9

Durable goods

Answer 9

last at least 3 years

Question 10

Service management

Answer 10

integrates marketing, HR, and operations functions to deliver services

Question 11

Service encounter

Answer 11

an interaction between the customer and the service provider

Question 12

moments of truth

Answer 12

customer interaction with some part of the delivery system and an impression can be formed

Question 13

Customer Benefit Package

Answer 13

goods and services that together provide value to customers

Question 14

primary good or service

Answer 14

core offering that attracts customers

Question 15

peripheral goods or services

Answer 15

not essential, but enhance the primary service

Question 16

varient/value propisition

Answer 16

offering that is specific to the location or firm (fishingpond at car dealership for kids)

Question 17

value creation process

Answer 17

focused on producing primary services

Question 18

support processes

Answer 18

like manufacturing, managing inventory, health benefits, etc

Question 19

general management processes

Answer 19

accounting and information systems, HR, marketing

Question 20

sustainability

Answer 20

long-term strategy

Question 21

financial measures

Answer 21

revenue, return on investment, operating profit, pretax profit margin, growth, revenue, earnings per share

Question 22

customer measures

Answer 22

satisfaction, retention, complaints, warranty claims, loyalty

Question 23

market measures

Answer 23

market share, business growth, new markets entered

Question 24

quality

Answer 24

measures the degree to which the output of a process meets customer requirements

Question 25

service quality

Answer 25

consistently meeting or exceeding customer expectations (external focus) and service delivery system performance (internal focus)

Question 26

first batch yield

Answer 26

ability to make a product well the first time

Question 27

time relates to two types of performance measures

Answer 27

the speed of doing it, the variability of the process

Question 28

queue tie

Answer 28

wait time for the consumer

Question 29

flexibility

Answer 29

ability to provide customized goods

Question 30

volume flexibility

Answer 30

ability to respond to changes in the type of demand

Question 31

dynamic capabilities

Answer 31

most important management thing is learning

Question 32

productivity

Answer 32

output/input

Question 33

operational efficiency

Answer 33

the ability to provide goods and services to customers with minimum waste and max use of resources

Question 34

triple bottom line

Answer 34

environmental, social and economic sustainability

Question 35

interlinking

Answer 35

the quantitative modeling of cause and effect relationships between both internal and external performance criteria

Question 36

value of a loyal customer

Answer 36

total profit each customer generates

Question 37

balanced scorecard model

Answer 37

financial, customer, innovation and learning, internal