Exam 1: Introduction to Operations and Supply Chain Management

The most recent era in the evolution of operations and supply chain management is

A supply chain is a series of activities from supplier to customer that adds value to a product or service.

Firms compete in the marketplace based on cost, speed, quality and flexibility.

Operations management is only concerned with the day-to-day operations of a firm's productive systems.

In 2010, the US surpassed China as the world's largest manufacturer.

_____________ is how the mission of a firm is accomplished.

A retail operation is an example of an exchange transformation process.

Productivity is the most common measure of competitiveness.

______________ focus(es) the organization on common goals that can be translated into measurable objectives.

Order winners and order qualifiers change over time in response to the dynamics of changing market conditions.

Companies that compete on _________________ establish a corporate culture that encourages risk.

Companies that compete on ______________ pursue the elimination of all waste.

Snacknow, a food service firm, is calculating its monthly productivity report. From the following data calculate the multifactor productivity. Labor rate $20 Units produced 10,000 Labor hours 1,000 Cost of materials $2000 Cost of energy $500

_____________ is the characteristic of a product that wins the order in the marketplace.

_____________ represents what the firm is in the business of doing.

The transformation process associated with health care is best described as

All of the following are transformation processes discussed in the text except

The set of activities that creates and delivers products to the customer is known as the supply chain.

Sustainability, in it's broadest sense, include(s)

_____________ are the characteristics of a product that qualify it to be considered for purchase by a customer.