Week #1 - Intro

Question 1

What is Manufacturing Management?

Answer 1

the process of managing resources (inputs) to deliver the product or service (outputs)

Question 2

Manufacturing mgmt is also know as..

Answer 2

Operations Management

Question 3

What is an input

Answer 3

resources a company might put in

Question 4

What is an output

Answer 4

what is produced

Question 5

Materials, people, capital, data, energy is an example of…(input or output)?

Answer 5

input

Question 6

services, products, info energy is an example of…(input or output)?

Answer 6

output

Question 7

When depositing a cheque in the bank…what would be the inputs and outputs? (List of options: people, banking procedure, stationary, service of completing banking transaction)

Answer 7

input: people, banking procedure, stationary
output: service of completing banking transaction

Question 8

Why does manufacturing mgmt matter?

Answer 8

1. Print market is very COMPETITIVE
2. consumers are always looking for:
   - better s/p
   - quick/fast deliver
   - High quality
   - better prices

Question 9

T or F….Manu mgmt helps company to compete

Answer 9

True

Question 10

T or F….Manu mgmt is the core of the company

Answer 10

True

Question 11

T or F….Manu Mgmt affects customers & profit

Answer 11

True

Question 12

What % of a company’s budget goes towards Manu Mgmt?

Answer 12

60-70%

Question 13

T or F….Check and guarantee quality of work (and proofs) going out the door is a responsibility of the print production manager?

Answer 13

True

Question 14

What is strategy?

Answer 14

1. Deciding what to do (direction)

2. How to do it (implementation)

Question 15

What is operations?

Answer 15

transforming inputs into output

Question 16

What is the GOAL of operations

Answer 16

to only positively effect the company (develop strategy to achieve this)

Question 17

What is operational strategy?

Answer 17

-how all the components of a business work together to achieve a set of biz objectives within a given period of time

Question 18

What does operational strategy address?

Answer 18

major long-term issues (e.g. How big to make plant facilities, where to locate facilities, when to build facilities, what type of processes needed)

Question 19

Where does operational strategy come from?

Answer 19

vision statement > Mission statement Business objectives -Goals > Business strategies > operations strategy

Question 20

To create an effective strategy we need to…

Answer 20

define the company to create a targeted strategy;

a. Vision statement
b. Mission statement
c. Goals

Question 21

What are the 2 important factors to communicate in your vision statement

Answer 21

1. core ideology

2. envisioned future

Question 22

What is BHAG?

Answer 22

Big Hairy Audacious Goals

Question 23

What is under core ideology

Answer 23

core value - characteristics you can’t live without

core purpose - most fundamental reason for being

Question 24

what is under envisioned future

Answer 24

BHAG - 10-30 yr goal, 50-70% chance to successfully meet the goal
vivid description - what it FEELS like to achieve the goal

Question 25

T or F …..The mission statement address: what biz are we in? & is essential for establishing objectives and formulating strategies

Answer 25

True