Final Examination 1 of 2:
Chapter 1 / Question #1: Why should one study operations management?
1. Because it is one of the three major functions in any kind of organizations so it is important to know how OM functions.
2. In order to know how goods and services are being produced.
3. In order to understand the roles and responsibilities of operations managers.
4. The amount invested in OM is a big part of revenue, hence it is a vital function of an organization.
Chapter 2 / Question #1: Based on the descriptions and analyses in this chapter, would Boeing be better described as a global firm or a transnational firm? Discuss.
In perspective of the portrayals and examinations, Boeing is preferable of a global over transnational firm. Its people group arranged development engages a “virtual workplace” that grants Everett, Washington-based pros, and moreover associates in several countries to take off concurrent diagram changes.
Chapter 3 / Question #1: Give an example of a situation in which project management is needed.
a. All necessary activities are finished in proper sequence and on time
b. The project comes in within budget
c. The project meets its quality goals
d. The people assigned to the project receive the motivation, direction, and information needed to do their jobs.
Chapter 4 / Question #1: What is a qualitative forecasting model, and when is its use appropriate?
Qualitative forecasting model are judgmental models are useful when subjective factors are important. When quantitative data are difficult to obtain, qualitative models are appropriate.
Chapter 5 / Question #1: Why is it necessary to document a product explicitly?
A product must be explicitly documented in order to ensure that the production process is done efficiently. Unless the product is already designed, defined, and documented, then human resources, layout, and equipment cannot be determined. This is why products are defined by using standard grades or written specifications.
Chapter 6 / Question #1: Explain how improving quality can lead to reduced costs.
When a firm improves the quality of their products, they will be able to increase their productivity and lower their costs because they have a higher chance of preventing rework, scrap and warranty. Total costs will be decreased when 100% of the goods will be perfect and detect free.
Chapter 7 / Question #1: What is process strategy?
The objective of a process strategy is to build a production process that meets customer requirements and product specification within cost and other managerial constraints.
Chapter 8 / Question #1: How is FedEx’s location a competitive advantage? Discuss.
FedEx’s location is a competitive advantage because they only have few locations which serve as the main center of operations. Memphis, as the “super hub” which is located in the middle of the US, experiences very few bad weather that causes its excellent flight-safety records. This factor enables the firm to operate effectively and efficiently to meet customers need.
Chapter 9 / Question #1: What are the seven layout strategies presented in this chapter?
1. Office layout: Positions workers, their equipment, and spaces/offices to provide for move- ment of information.
2. Retail layout: Allocates display space and responds to customer behavior.
3. Warehouse layout: Addresses trade-offs between space and material handling.
4. Fixed-position layout: Addresses the layout requirements of large, bulky projects such as ships and buildings.
5. Process-oriented layout: Deals with low-volume, high-variety production (also called “job shop or intermittent production).
6. Work-cell layout: Arranges machinery and equipment to focus on production of a single product or group of related products.
7. Product-oriented layout: Seeks the best personnel and machine utilization in repetitive or continuous production.
Chapter 10 / Question #1: How would you define a good quality of work life?
Individuals have lives outside their work and organizations understand that they have to focus on the general advancement and fulfillment of their employees without taking a chance on the economic health of the company. It helps employees get motivated to do their best at their jobs.
Chapter 11 / Question #1: Define supply chain management.?
Supply chain management is the organization of all supply chain activitiesfrom crude materials to customers’ satisfaction. It includes suppliers; service providers; and distributors, wholesalers, and/or retailers who deliver the product and/or service to the final customer.
Chapter 12 / Question #1: Describe the four types of inventory.
a) Raw material inventory – used to separate suppliers from the production process.
b) Work-in-process (WIP) inventory – raw material that have undergone some change but are not completed.
c) MROs (maintenance/repair/operation) – devoted to supplies necessary to keep machinery and process productive
d) Finished-goods inventory – is completed product awaiting shipment.
Chapter 13 / Question #1: Define sales and operations planning.
It is the manner of matching assets and forecasted demand, arranging an organization’s competing demands from supply chain to final customer, and simultaneously connecting strategic planning with over all planning horizons.
Chapter 14 / Question #1: What is the difference between a gross requirements plan and a net requirements plan?
The difference between the two is that a net requirements plan bends for on hand inventory and scheduled receipts.
Chapter 15 / Question #1: What is the overall objective of scheduling?
The overall objective of scheduling is to assign and prioritize demand to accessible facilities.
Chapter 16 / Question #1: What is a Lean producer?
It is a company that takes on the belief of reducing waste, aiming for perfection through consistent learning, team, and creativity.
Chapter 17 / Question #1: What is the objective of maintenance and reliability?
The objective is to control cost while preserving the capability of the system.