18 Questions
What is the main difference between products and services?
Products are manufactured, while services are activities or processes.
In the context of operations management, what is a transformation system?
A system that takes inputs and transforms them into outputs using process resources.
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.
Which statement best describes the value of customers to operations?
Operations would cease to exist without customers.
In terms of asset management, what is a key aspect of managing resources effectively?
Directing, designing, planning delivery, and improving resources.
What is the main characteristic of a service compared to a product?
Services are consumed when used, unlike products.
Why are customers considered both inputs and reasons for the existence of operations?
Because without customers, operations would have no purpose or function.
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.
What are the primary duties of a Deputy Manager Manufacturing?
Planning, managing, and executing manufacturing operations.
Describe the role of an Associate Product Manager.
Participates in the creation of new products and features from ideation to launch.
What are the varied responsibilities of an Operations Manager?
Varied responsibilities that are senior in nature.
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.
Explain the task of a Sourcing Specialist.
Developing short and long term sourcing plans by benchmarking suppliers, contracts, and services.
What does a Supplier Risk Manager assess before on-boarding a supplier?
Operational risk, Information security risk, and reputational risk.
How does a Supplier Risk Manager maintain supplier compliance?
By ensuring adherence to local regulations and company policies/processes.
What are the main areas of focus for a Supply Chain Functional Analyst?
Planning, fulfillment, manufacturing, sourcing, & procurement.
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.
Why is the role of an Operations Manager considered senior in nature?
Due to the varied responsibilities associated with the position.
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.
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.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
