Question 1

In value-conscious markets where costs and prices must be carefully controlled, all of the following are recommended except.

Accepted Answer

A)   Experience
B)   Appropriate technology
C)   Process-focused quality management
D)   Knowledge management
E)   All of the above E

Question 2

We realize that Operations are part of an extended supply chain when we realize that

Accepted Answer

A)   Operations are no longer an organization-specific affair
B)   Operations involve collaboration with both vertical and horizontal stakeholders
C)   All of the above
D)   None of the above C

Question 3

What are the issues facing manufacturing?

Accepted Answer

Manufacturing industries across the globe face a multitude of challenges that can impact their operations, profitability, and ability to innovate. Some of the key issues facing manufacturing include:

1. Supply Chain Disruptions: Manufacturers often struggle with supply chain issues, such as delays in raw material delivery, increased transportation costs, and geopolitical tensions that can disrupt the flow of goods. The COVID-19 pandemic has further highlighted the fragility of global supply chains.

2. Labor Shortages: Skilled labor is becoming increasingly scarce in many regions, which can lead to production delays and increased labor costs. The manufacturing sector competes with other industries for talent, and there is often a gap between the skills available in the workforce and those required for advanced manufacturing processes.

3. Technological Advancements: Keeping up with rapid technological changes, such as the adoption of Industry 4.0, artificial intelligence, and automation, is essential for manufacturers to remain competitive. However, implementing these technologies requires significant investment and can be a challenge for smaller manufacturers with limited resources.

4. Environmental Regulations: Manufacturers must comply with a growing number of environmental regulations aimed at reducing pollution and combating climate change. Adhering to these regulations can be costly and complex, especially for multinational companies that must navigate different regulatory environments.

5. Quality Control: Maintaining high-quality standards is crucial for customer satisfaction and brand reputation. Quality control issues can lead to product recalls, liability, and loss of trust, which can be damaging to a company's bottom line.

6. Cybersecurity Threats: As manufacturing becomes more connected and reliant on digital technologies, the risk of cyberattacks increases. Manufacturers must invest in cybersecurity measures to protect intellectual property, customer data, and operational technology.

7. Global Competition: Manufacturers must compete in a global marketplace where emerging economies often offer lower production costs. This competition can put pressure on manufacturers in developed countries to reduce costs, innovate, and improve efficiency.

8. Energy Costs: Volatility in energy prices can significantly affect manufacturing costs, particularly for energy-intensive industries. Manufacturers need to find ways to reduce energy consumption or switch to renewable energy sources to mitigate these costs.

9. Customer Demands: Consumers are increasingly demanding customized products delivered in shorter time frames. Manufacturers must adapt their production processes to be more flexible and responsive to these changing demands.

10. Political and Economic Uncertainty: Political instability, trade wars, and economic fluctuations can create an unpredictable business environment, making it difficult for manufacturers to plan for the future and make long-term investments.

Addressing these challenges requires strategic planning, investment in technology and workforce development, and a willingness to adapt to changing market conditions. Manufacturers that can successfully navigate these issues are better positioned to thrive in a competitive and ever-evolving industry.

Question 4

Fundamentally, goods and services can be categorized as which of the following
i. necessities
ii. Luxuries
Iii. happiness

Accepted Answer

A)   i and ii
B)   ii and iii
C)   i, ii, and iii
D)   none of the above

Question 5

What forces are driving the era of volatile markets and industries, and to what effect?

Accepted Answer

The answer of What forces are driving the era of...

Question 6

Explain how operations management supports an organization's ability to compete.

Accepted Answer

The answer of Explain how operations management supports an organization's...

Question 7

Explain the evolution of Operations Management.

Accepted Answer

The answer of Explain the evolution of Operations Management....

Question 8

An organization is judged by how its operations performs rather than by what the organization claims it is doing.

Accepted Answer

A) True 
 B)False

Question 9

The rise of servitization was due to all of the following except:

Accepted Answer

A)   Shrinking profit margins
B)   Customers wanting an overall offering
C)   Need to improve competitiveness
D)   None of the above
E)   All of the above

Question 10

Manufacturing and service operations often link together in providing:

Accepted Answer

A)   total customer offering
B)   value added benefit to the consumer
C)   economic benefit to companies
D)   none of the above

Question 11

The term used to describe the current era of operations is:

Accepted Answer

A)   Mass Customization
B)   Flexible Specialization
C)   Lean production
D)   Agile
E)   all of the above

Question 12

Traditionally, operations management has been very concerned with the management of value, but this element of responsibility has changed recently to managing costs.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not one of the three key forces to date that has changed operations management? 
i. economic
ii. social
iii. technological
iv. wealth
v. fashion
vi. invention

Accepted Answer

A)   i, ii, and iv
B)   ii, v, and vi
C)   iv, v, and vi
D)   all of the above
E)   none of the above

Question 14

Which of the following terms describe the current era of operations?
i. Mass Customization
ii. Flexible Specialization
Iii. Lean
iv. Agile
v. Strategic

Accepted Answer

A)   i ii, and iv
B)   ii, iii, iv, and v
C)   i, ii, iii, and iv
D)   All of the above
E)   None of the above

Question 15

In value-conscious markets where costs and prices must be carefully controlled, the utilization of automation and workforce reductions are necessary.

Accepted Answer

A) True 
 B)False

Question 16

Value added, simply put, means that the income or benefit derived from performing a particular operation is greater than the cost of doing so.

Accepted Answer

A) True 
 B)False

Question 17

Operations are about a limited, speciﬁc function.

Accepted Answer

A) True 
 B)False

Question 18

Operations include functional activities such as: inventory management, supply and logistics, capacity and scheduling, quality control, management of process technology, human resource management, and a range of activities associated with information and communications.

Accepted Answer

A) True 
 B)False

Question 19

With operations managers' capabilities, the best marketing and corporate plans can be achieved.

Accepted Answer

A) True 
 B)False

Question 20

Organizations focused on vertical integration only move into areas where they have expertise.

Accepted Answer

A) True 
 B)False

Exam 1: Introduction to Operations Management

In value-conscious markets where costs and prices must be carefully controlled, all of the following are recommended except.

We realize that Operations are part of an extended supply chain when we realize that

What are the issues facing manufacturing?

Fundamentally, goods and services can be categorized as which of the following i. necessities ii. Luxuries Iii. happiness

What forces are driving the era of volatile markets and industries, and to what effect?

Explain how operations management supports an organization's ability to compete.

Explain the evolution of Operations Management.

An organization is judged by how its operations performs rather than by what the organization claims it is doing.

The rise of servitization was due to all of the following except:

Manufacturing and service operations often link together in providing:

The term used to describe the current era of operations is:

Traditionally, operations management has been very concerned with the management of value, but this element of responsibility has changed recently to managing costs.

Which of the following is not one of the three key forces to date that has changed operations management? i. economic ii. social iii. technological iv. wealth v. fashion vi. invention

Which of the following terms describe the current era of operations? i. Mass Customization ii. Flexible Specialization Iii. Lean iv. Agile v. Strategic

In value-conscious markets where costs and prices must be carefully controlled, the utilization of automation and workforce reductions are necessary.

Value added, simply put, means that the income or benefit derived from performing a particular operation is greater than the cost of doing so.

Operations are about a limited, speciﬁc function.

Operations include functional activities such as: inventory management, supply and logistics, capacity and scheduling, quality control, management of process technology, human resource management, and a range of activities associated with information and communications.

With operations managers' capabilities, the best marketing and corporate plans can be achieved.

Organizations focused on vertical integration only move into areas where they have expertise.