Operations Management Quiz: Reading and Practice Questions

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Questions and Answers

What is the main difference between products and services?

Products are manufactured, while services are activities or processes. (correct)

Products are intangible, while services are tangible.

Products are consumed when used, while services can be stored.

Products involve customers, while services do not.

In the context of operations management, what is a transformation system?

A system that emphasizes the storage of products.

A system that takes inputs and transforms them into outputs using process resources. (correct)

A system that focuses on customer management only.

A system that involves changing the physical properties of materials only.

Why is human resource management considered a key resource for organizations?

Because people employed by an organization create goods or services and support others in doing so. (correct)

Because HR managers ensure product quality.

Because HR is responsible for transforming services into tangible products.

Because HR focuses on managing physical resources effectively for the organization.

Which statement best describes the value of customers to operations?

Operations would cease to exist without customers. Signup and view all the answers

In terms of asset management, what is a key aspect of managing resources effectively?

Directing, designing, planning delivery, and improving resources. Signup and view all the answers

What is the main characteristic of a service compared to a product?

Services are consumed when used, unlike products. Signup and view all the answers

Why are customers considered both inputs and reasons for the existence of operations?

Because without customers, operations would have no purpose or function. Signup and view all the answers

What role do people employed by an organization play in the production of goods or services?

They work directly to create goods or services and support others in doing so. Signup and view all the answers

What are the primary duties of a Deputy Manager Manufacturing?

Planning, managing, and executing manufacturing operations. Signup and view all the answers

Describe the role of an Associate Product Manager.

Participates in the creation of new products and features from ideation to launch. Signup and view all the answers

What are the varied responsibilities of an Operations Manager?

Varied responsibilities that are senior in nature. Signup and view all the answers

What is the primary duty of a Supply Chain Functional Analyst?

Delivering projects in the supply chain division focusing on planning, fulfillment, manufacturing, sourcing, & procurement. Signup and view all the answers

Explain the task of a Sourcing Specialist.

Developing short and long term sourcing plans by benchmarking suppliers, contracts, and services. Signup and view all the answers

What does a Supplier Risk Manager assess before on-boarding a supplier?

Operational risk, Information security risk, and reputational risk. Signup and view all the answers

How does a Supplier Risk Manager maintain supplier compliance?

By ensuring adherence to local regulations and company policies/processes. Signup and view all the answers

What are the main areas of focus for a Supply Chain Functional Analyst?

Planning, fulfillment, manufacturing, sourcing, & procurement. Signup and view all the answers

What is the key aspect of managing resources effectively in asset management?

Ensuring buildings, facilities, equipment, and stock are directly involved in or support operations. Signup and view all the answers

Why is the role of an Operations Manager considered senior in nature?

Due to the varied responsibilities associated with the position. Signup and view all the answers

Study Notes

Careers in Operations Management

A deputy manager manufacturing is responsible for planning, managing, and executing manufacturing operations.
An associate product manager participates in the creation of new products and features right from ideation to launch.
Operations managers have varied responsibilities and are a senior position, with duties varying based on the company and product or service offered.
A supply chain functional analyst's primary duty is to deliver projects in the supply chain division by focusing on planning, fulfillment, manufacturing, sourcing, and procurement.
A sourcing specialist develops both short and long-term sourcing plans by benchmarking all suppliers, contracts, and services associated with delivering services.
A supplier risk manager conducts a supplier risk assessment for operational risk, information security risk, and reputational risk for a supplier before on-boarding and maintains supplier compliance in terms of local regulations and company policies/processes.

The Production and Operations Function

Production involves transforming tangible inputs (raw materials, semi-finished goods, subassemblies) and intangible inputs (ideas, information, knowledge) into goods or services.
Resources are used in this process to create an output that is suitable for use or has exchange value.
Operations management is concerned with managing processes, and all processes have internal customers and suppliers.

The Input-Transformation-Output Process

Inputs to the process include transformed resources, which can be materials, information, or customers.
Outputs from the process can be tangible products or services.

Importance of Operations Management

Operations management is important in all types of organizations as it uses the organization's resources to create outputs that fulfill defined market requirements.
It is the fundamental activity of any type of enterprise.

Model of Operations Management

Operations and processes are transformation systems that take in inputs and use process resources to transform them into outputs.
Resources need to be managed in terms of direction, design, delivery planning and control, and development and improvement.

Asset Management and Cost Management

Asset management involves an organization's buildings, facilities, equipment, and stock, which are directly involved in or support the operations function.
Cost management involves managing the costs of producing goods or services, which are directly related to the costs of acquiring resources, transforming them, or delivering them to customers.

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Description

Test your knowledge on operations management which involves asset and cost management in organizations. Learn about the role of a deputy manager manufacturing in planning and executing manufacturing operations.