Question 1

What is Operation Management?

Accepted Answer

The management of systems or
processes that create goods and/or
provide services.
Ex. Manufacturing industry (goods):
Production process of making cotton
clothes.

Question 2

What is Value-added?

Accepted Answer

is the term used to describe
the difference between the cost of
inputs and the value of price of outputs.

Question 3

What is Customer Contact-customers?

Accepted Answer

actively participate in
transformation processes, self-service.

Question 4

What is Service Industry?

Accepted Answer

such as customer
service assistance, medical services,
call centers, payment and bills etc

Question 5

What are the business functions?

Accepted Answer

responsible for planning,
coordinating, and controlling the resources
needed to produce products and services for a
company.

Question 6

The Three Basic Functions of Business Organizations

Accepted Answer

Marketing, Operations, Finance

Question 7

The chief role of an Operation Manager

Accepted Answer

is that of planner
and decision maker.

Question 8

What is Forecasting?

Accepted Answer

is a statement about the future value of a
variable of interest. It is prediction about the future

Question 9

What is Capacity planning?

Accepted Answer

is to achieve a match between the
long-term supply capabilities of an organization and
the predicted level of long-term demand.

Question 10

What is Scheduling?

Accepted Answer

establishing the timing of the use of
equipment, facilities, and human activities in an
organization.

Question 11

What is Inventories?

Accepted Answer

is a stock or stores of finished goods,
raw materials, or purchased parts.

Question 12

What is Quality?

Accepted Answer

fitness for use in quality of design and
quality of conformance. It is also inversely
proportional to variability. Quality always begins
with trying to satisfy the customer needs and
requirements.

Question 13

Motivating and Training employees?

Accepted Answer

in all phases of operation in
order to boost the morale of employees.

Question 14

Locating facilities?

Accepted Answer

it pertains to manager's decisions on which
cities to provide for, where to locate maintenance facilities, and
where to locate major and minor hubs.

Question 15

Types of operations:

Accepted Answer

Good Producing, Storage/transportation, Exchange, Entertainment, Communication

Question 16

What is System design?

Accepted Answer

involves decision the relate to
system capacity, the geographic location of
facilities, arrangement of departments and
placement of equipment within physical structure,
product and service planning and acquisition of
equipment.

Question 17

What is System operation?

Accepted Answer

involves management of
personnel, inventory planning and control,
scheduling, project management and quality
assurance.

Question 18

Purchasing

Accepted Answer

has responsibility for procurement of materials, supplies and
equipment. The purchasing is also involved in receiving and inspecting the
purchased goods.

Question 19

Industrial Engineering

Accepted Answer

is often concerned with scheduling, performance
standards, work methods, quality control, and material handling.

Question 20

Distribution

Accepted Answer

involves the shipping of goods to warehouses, retail outlets or
final customer

Question 21

Maintenance

Accepted Answer

is responsible for general upkeep and repair of equipment,
building and grounds, heating and air-conditioning, removing toxic wastes,
parking and perhaps security.

Question 22

What is a Model?

Accepted Answer

is an abstraction of reality, a simplified
representation of something.

Question 23

Physical models

Accepted Answer

look like their real-life
counterparts. These model is their visual
correspondence with reality.

Question 24

Schematic models

Accepted Answer

are more abstract than their
physical counterparts; that is they have less
resemblance to physical reality

Question 25

Mathematical models

Accepted Answer

are the most abstract. These
models are usually the easiest to manipulate and
they are important forms of inputs for computers
and calculators.

Question 26

Budgeting.

Accepted Answer

Budgets must be periodically prepared to
plan financial requirements.

Question 27

Economic analysis of investment proposals.

Accepted Answer

Evaluation of
alternative investments in plant and equipment requires
inputs from both operation and finance people.

Question 28

Provision of Funds.

Accepted Answer

The necessary funding of operations
and the amount and timing of funding can be important
and even critical when funds are tight.

Question 29

Why Study Operations Management?

Accepted Answer

Teaches you how organizations efficiently
turn resources into goods and services, reduce
waste, and improve profitability.

Question 30

The internet

Accepted Answer

offers great potential for
business organization but the potential as well as
the risk must be clearly understood in order to
determine if and how to exploit this potential

Question 31

Electronic business (e-business)

Accepted Answer

involves
the use of the internet to transact business.

Question 32

The e-commerce,

Accepted Answer

consumer-business
transaction such as buying online or requesting
information.

Question 33

The word technology

Accepted Answer

refers to the
application of scientific discoveries to the
development and improvement of goods and
services.

Question 34

Product and service technology

Accepted Answer

refers to the
discovery and development of new product and
services.

Question 35

Process technology

Accepted Answer

refers to
methods, procedures and
equipment used to produce good
and services.

Question 36

Information technology

Accepted Answer

refers to the
science and use of computers and other
electronic equipment to store, process and
send information.
It includes bar codes and Quick Response
Code (QR Code)

Question 37

Supply chain

Accepted Answer

A sequence of
organization – their facilities, functions
and activities – that are involved in
producing and delivering a product and
services.

Question 38

Agility –

Accepted Answer

refers to the ability of an
organization to respond quickly to
demands or opportunities.

Question 39

Ethical Behavior –

Accepted Answer

is commanding
increased attention from management
at all levels such as privacy and security
of computer files.

Question	Answer
What is Operation Management?	The management of systems or processes that create goods and/or provide services. Ex. Manufacturing industry (goods): Production process of making cotton clothes.
What is Value-added?	is the term used to describe the difference between the cost of inputs and the value of price of outputs.
What is Customer Contact-customers?	actively participate in transformation processes, self-service.
What is Service Industry?	such as customer service assistance, medical services, call centers, payment and bills etc
What are the business functions?	responsible for planning, coordinating, and controlling the resources needed to produce products and services for a company.
The Three Basic Functions of Business Organizations	Marketing, Operations, Finance
The chief role of an Operation Manager	is that of planner and decision maker.
What is Forecasting?	is a statement about the future value of a variable of interest. It is prediction about the future
What is Capacity planning?	is to achieve a match between the long-term supply capabilities of an organization and the predicted level of long-term demand.
What is Scheduling?	establishing the timing of the use of equipment, facilities, and human activities in an organization.
What is Inventories?	is a stock or stores of finished goods, raw materials, or purchased parts.
What is Quality?	fitness for use in quality of design and quality of conformance. It is also inversely proportional to variability. Quality always begins with trying to satisfy the customer needs and requirements.
Motivating and Training employees?	in all phases of operation in order to boost the morale of employees.
Locating facilities?	it pertains to manager's decisions on which cities to provide for, where to locate maintenance facilities, and where to locate major and minor hubs.
Types of operations:	Good Producing, Storage/transportation, Exchange, Entertainment, Communication
What is System design?	involves decision the relate to system capacity, the geographic location of facilities, arrangement of departments and placement of equipment within physical structure, product and service planning and acquisition of equipment.
What is System operation?	involves management of personnel, inventory planning and control, scheduling, project management and quality assurance.
Purchasing	has responsibility for procurement of materials, supplies and equipment. The purchasing is also involved in receiving and inspecting the purchased goods.
Industrial Engineering	is often concerned with scheduling, performance standards, work methods, quality control, and material handling.
Distribution	involves the shipping of goods to warehouses, retail outlets or final customer
Maintenance	is responsible for general upkeep and repair of equipment, building and grounds, heating and air-conditioning, removing toxic wastes, parking and perhaps security.
What is a Model?	is an abstraction of reality, a simplified representation of something.
Physical models	look like their real-life counterparts. These model is their visual correspondence with reality.
Schematic models	are more abstract than their physical counterparts; that is they have less resemblance to physical reality
Mathematical models	are the most abstract. These models are usually the easiest to manipulate and they are important forms of inputs for computers and calculators.
Budgeting.	Budgets must be periodically prepared to plan financial requirements.
Economic analysis of investment proposals.	Evaluation of alternative investments in plant and equipment requires inputs from both operation and finance people.
Provision of Funds.	The necessary funding of operations and the amount and timing of funding can be important and even critical when funds are tight.
Why Study Operations Management?	Teaches you how organizations efficiently turn resources into goods and services, reduce waste, and improve profitability.
The internet	offers great potential for business organization but the potential as well as the risk must be clearly understood in order to determine if and how to exploit this potential
Electronic business (e-business)	involves the use of the internet to transact business.
The e-commerce,	consumer-business transaction such as buying online or requesting information.
The word technology	refers to the application of scientific discoveries to the development and improvement of goods and services.
Product and service technology	refers to the discovery and development of new product and services.
Process technology	refers to methods, procedures and equipment used to produce good and services.
Information technology	refers to the science and use of computers and other electronic equipment to store, process and send information. It includes bar codes and Quick Response Code (QR Code)
Supply chain	A sequence of organization – their facilities, functions and activities – that are involved in producing and delivering a product and services.
Agility –	refers to the ability of an organization to respond quickly to demands or opportunities.
Ethical Behavior –	is commanding increased attention from management at all levels such as privacy and security of computer files.

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Quiz 1 OM