Exam 1: Introduction

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

Doing something at the lowest possible cost is called: _______________.

Service science management and engineering aims to apply the latest concepts in information technology to continue to improve service productivity of technology-based organizations.

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

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

During a recession, efficient firms often have an opportunity to increase market share while maintaining profitability.

"Supply chain" refers to processes that move information and material to and from the manufacturing and service processes of the firm.

Although planning involves determining how the various supply chain processes (sourcing, making, delivering, and returning) will be met, planning itself is not considered a supply chain process.

"Business analytics" involves the analysis of data through a unique combination of linear programming, game theory, and queuing theory to better solve business problems.

The central idea of supply chain management is to apply a total system approach to managing the flow of information, materials, and services from raw material suppliers through factories and warehouses to the end customer.

Which of the following is not a characteristic that distinguishes services from goods?

The use of the Internet as an essential element of business activity is called what? ______________________________

Internet technology has made the sharing of reliable real-time information expensive.

Effectiveness means doing the right things to create the most value for the company.

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

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

"Green belt" programs are coordinated public works projects aimed a placing an environmentally friendly zone around major cities.

Processes that are used to transform resources into products are called _______________.

Investors pay close attention to efficiency and productivity measures like net income per employee because they are interested in how well the firm manages its workforce relations.

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