Questions on Operations Management - 1661 Words

Chapter 1: Introduction to Operations Management Overview This chapter provides a definition of operations management. The role and importance of operations in an organization are described, along with operations decisions that are made. The differences between manufacturing and services are described. The history and current trends of operations management are discussed, including the impact of information systems. Finally, the interaction between operations and other business functions are described. Answers to Discussion Questions in Textbook 1. Define the term operations management. Operations management manages the resources needed to produce the company’s products and services. It involves managing people,†¦show more content†¦Customers go directly to the restaurant where they are served quickly by the staff. 9. What are the three historical milestones in operations management? How have they influenced management? Three historical milestones are the industrial revolution, total quality management (TQM) and global competition. The industrial revolution changed production processes from a labor focus to a machine focus. TQM caused managers to be more focused on quality and preventing defects. Finally, global competition caused managers to further increase their focus on quality, realizing that to not improve was to â€Å"lose the race.† 10. Identify three current trends in operations management and describe them. How do you think they will change the future of OM? The lean systems concept is a current trend in operations management. This involves taking a total system approach to creating an efficient operation. This includes concepts such as just-in-time (JIT), total quality management (TQM), continuous improvement, resource planning, and supply chain management (SCM). Companies are using the Internet to reach out to customers, and suppliers directly. Amazon.com has been able to sell books and many other items directly from its warehouse to people like you and me. The Internet is changing how the supply chains work since we can now eliminate the â€Å"middle man† or distributor by selling directly from the factory to the final or end customer. Companies can also easeShow MoreRelatedOperations Management Question1146 Words   |  5 PagesFALL 2011 2011 Deadline: October 26, Middle East Technical University – Northern Cyprus Campus BUS 361 Operations Management Homework 1 - Solutions 1. Fruit Computer Company manufactures memory chips in lots of ten chips. From past experience, Fruit knows that 80% of all lots contain 10% (1 out of 10) defective chips, 20% of all lots contain 50% (5 out of 10) defective chips. If a good batch (that is, 10% defective) of chips is sent on to the next stage of production, processing costsRead MoreA Question Paper on Operations Management1801 Words   |  8 PagesMGS 4700 Operations Management Exam 1 (Sample) Name__________________________________ Exam Instructions: Do not open the exam until you are told to do so. ï‚ · ï‚ · Calculators are allowed (and encouraged) One â€Å"cheat sheet† per person is allowed o Must be 8.5† by 11† or smaller o Must only have writing on one side Academic Integrity: Cheating on examinations involves giving or receiving unauthorized help before, during or after an examination. Also includes allowing another student to viewRead MoreOperations Management Week 1 Discussion Questions Essay586 Words   |  3 Pages8FINA 301 Capital Budgeting Exercises Nicholas Bush Capital Budgeting Exercise 1 You are considering the purchase of one of two machines used in your manufacturing plant. Machine A has a life of two years, costs $1500 initially, and then $400 per year in maintenance costs. Machine B costs $2000 initially, has a life of three years, and requires $300 in annual maintenance costs. Either machine mustRead MoreQuestions On The Research Process Essay1184 Words   |  5 Pagesselecting research questions. Sauro (2013) discussion of the research process provides further details on the factors that contribute to the successful research question selection. In selecting a successful research question, the research must be able to identify the researcher must see the need for this particular study, define the issue, and to find solution or solutions to resolve it. The research should provide a clear picture for the researcher to discover if the research question can be solvedRead Moreproduction and operation management1377 Words   |  6 Pagesof Production and Operations Management IIBM Institute of Business Management Examination Paper Production and Operations Management Subject Code-B107 ï‚ · ï‚ · ï‚ · MM.100 Section A: Objective Type Short Questions (30 marks) This section consists of multiple choice Short Notes type questions. Answer all the questions. Part one questions carry 1 mark each Part two questions carry 5 marks each. Part One: Multiple choices: 1. Production and Operations Management concerns itselfRead MoreIibm Emba Production and Operation Management1513 Words   |  7 PagesSemester II Examination Papers IIBM Institute of Business Management Semester-II Examination Paper MM.100 Production and Operation Management Section A: Objective Type (30 marks) †¢ †¢ †¢ This section consists of Multiple choice questions Short Notes type questions. Answer all the questions. Part One questions carry 1 mark each Part Two questions carry 5 marks each. Part One: Multiple choices: 1. If the number of restrictions on sources be ‘a’ and the number of restrictionsRead MoreSAW assignment Essay1076 Words   |  5 PagesThis is accomplished through effective communication, among other things. At some point, management must convert these goals into getting things done. Management encompasses four principle elements; to plan, organize, lead, and control the limited resources of an organization, to achieve the stated goals. The first of those elements is to plan. That is the focus of this week’s lecture. Think of the management cycle of plan, organize, lead, and control, as a circle. At the top of the circle isRead MoreThree Concepts Of Operations Management877 Words   |  4 PagesConcepts of Operations Management Business Models â€Å"Operations and project managers must be attuned to the characteristics of the organization and the demands placed on them to increase efficiencies and effectiveness† (Satterlee, 2013, p. 237). It is within these characteristics and demands that you will find the three most important concepts of operations management and business models, total quality management (TQM), project management and operations management. Operations Management Read MoreOperations Management Schroeder Chapters 1-31594 Words   |  7 PagesCHAPTER 1 Question #2 What is the difference between the terms production management and operations management? Production management deals primarily with the manufacture of goods, whereas operations management encompasses the production of not only goods, but services as well. Question #3 How does the function of an operations manager differ from the function of a marketing manager or a finance manager? The operations managers function is to create the supply of goods, whereas the marketingRead MoreOperations Management Metrics Essays916 Words   |  4 PagesOperations Management Metrics Operations Management Process is the central arteries within the organization because it produces the planning process for goods and services, which are its reason for existent. Operations management is linked to all organizations as every organization is producing either a product or a service. However, it cannot be said to be the most important function since there are other functional areas and boundaries within an organization. In todays fast changing