OPM537 TOPIC 1

What is the definition of operations management?

• The process of organizing financial resources

• The set of activities that create value in the form of goods and services by transforming inputs into outputs

• The process of selling goods and services

• The process of marketing products

What are the essential functions in organizing to produce goods and services?

• Customer service, Inventory management, Quality control

• Sales, Human resources, Research and development

• Marketing, Production/operations, Finance/accounting

• Advertising, Legal, Information technology

What is the supply chain?

• A global network of organizations and activities that supply a firm with goods and services

• A chain used to secure goods in a warehouse

• A chain of command within a company

• A chain of production facilities

Why is it important to study operations management?

• It is a low-cost part of an organization

• It does not impact the overall performance of an organization

• It is not necessary to understand how goods and services are produced

• It is one of the major functions of any organization

What are the basic management functions?

• Planning, Organizing, Staffing, Leading, Controlling

• Selling, Producing, Accounting, Analyzing

• Designing, Implementing, Evaluating, Reporting

• Training, Supervising, Monitoring, Reviewing

Who is known as the 'father of scientific management'?

• Frederick W. Taylor

• Henry Ford

• W. Edwards Deming

• Frank Gilbreth

What is the ratio used to calculate productivity?

• Inputs multiplied by outputs

• Outputs multiplied by inputs

• Outputs divided by inputs

• Inputs divided by outputs

What is the objective of improving productivity?

• To increase the standard of living

• To decrease the quality of goods and services

• To reduce the efficiency of operations

• To lower the costs of production

What are the key variables for improved labor productivity?

• Basic education, Diet, Social overhead

• Technology, Capital, Management

• Marketing, Sales, Customer service

• Quality control, Inventory management, Scheduling

What are the challenges facing operations managers in terms of ethics, social responsibility, and sustainability?

• Developing safe, high-quality green products, Training and motivating employees, Honoring stakeholder commitments

• Maximizing profits, Ignoring environmental impact, Reducing employee benefits

• Avoiding regulations, Disregarding customer feedback, Focusing solely on financial gains

• Cutting costs at the expense of quality, Exploiting labor, Disregarding community needs