Exam 1: Using Operations to Create Value

A firm gains competitive advantage by outperforming competitors in terms of competitive priorities, which fall into four major groups: ________, ________, ________, and ________.

Which of the following would be considered an advantage of global competition?

The supplier relationship process selects the suppliers of services, materials and information, while the order fulfillment process facilitates the timely and efficient flow of these items into the firm.

You are interested in buying a laptop computer. Your list of considerations include the computer's speed in processing data, its weight, screen size, and price. You consider a number of different models, and narrow your list based on speed and monitor screen size, then finally select a model to buy based on its weight and price. In this decision, weight and price are examples of:

The effective operation of a firm and its supply chain is more important than the design and implementation of its processes.

________ is the elapsed time between receiving a customer's order and filling it.

Managing supply chains does not involve processes external to the firm.

Companies that do not have operations in China find it difficult to compete based on the basis of low prices with companies that do. Instead those companies tend to compete based on:

In an assembly operation at a furniture factory, six employees assembled an average of 450 custom chairs per 5-day week. What is the labor productivity of this operation?

Which of these business processes typically lies within the realm of operations?

It takes the Blacksburg shipyard twenty six weeks with 500 workers to build a small tanker. Material costs are $32 million and overhead costs are $2 million. Workers cost $40 per hour including benefits and work 40 hours per week. The ship sells for $75 million. What is the multifactor productivity ratio?

Using an airline example for competitive priorities, the process capability of handling service needs of all market segments and promotional programs would be best described by:

________ are often responsible for key performance measures such as cost and quality.

Which of the following statements about "big data" is False?

Operations management is part of a production system that can be described in the following manner: Organization: inputs→processes→outputs. Which one of the following correctly describes a production system?

Identify a large employer in your hometown. Describe this organization's inputs, processes, and outputs.

Competitive priorities:

Most products today are composites of global materials and services from throughout the world.

Effective management of its processes can allow a firm to reduce its ________ and also increase ________.

The cumulative work of the processes of a firm is a(n) ________.