Exam 1: Operations and Supply Chain Management

A doctor completes a surgical procedure on a patient without error. The patient dies anyway. In operations management terms, we could refer to this doctor as being efficient but not effective.

Planning is where a firm must determine how anticipated demand will be met with available resources.

"Product-service bundling" refers to a company building service activities into its product offerings for its customers.

Returning involves processes for receiving worn-out, defective, and excess products back from customers but does not involve support for customers who have problems with the product.

The approach that advocates making revolutionary changes as opposed to evolutionary changes is called creation theory.

Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view.

Which of the following is not a way that operations and supply processes are categorized?

The term "electronic commerce" refers to the buying and selling of electronic products and devices.

Lean manufacturing refers to just in time production coupled with total quality control.

Operations and supply chain strategy are not important issues to investors who tend to focus on growth, dividends, and earnings per share.

Capturing information directly from the source through such systems as point-of-sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has had little impact on Operations and Supply Chain Management.

Central to the concept of operations strategy are the concepts of operations focus and trade-offs.

Just in time (JIT) production was a major breakthrough in manufacturing philosophy pioneered by the Japanese.

OSCM is concerned with management of the trickiest parts of the system that produces a good or delivers a service.

Operations and supply management changes constantly because of the dynamic nature of competing in global business and the constant evolution of information technology.

The mathematical results of Business Analytics are used to automate decision making and eliminate the decision maker.

The supply network as can be thought of as a pipeline through which cash, material, and information flows.

All managers should understand the basic principles that guide the design of transformation processes.

Operations and supply chain management is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services.

It is critical that a sustainable strategy meet the needs of shareholders and employees. It is also highly desirable that it preserves the environment.