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Questions and Answers
Henry Ford was born in 1863 and died in 1947.
Henry Ford was born in 1863 and died in 1947.
True
Henry Ford created the Ford Motor Company in 1907.
Henry Ford created the Ford Motor Company in 1907.
False
W. Edwards Deming was a chemist.
W. Edwards Deming was a chemist.
False
W. Edwards Deming taught Japan quality control methods before WW2.
W. Edwards Deming taught Japan quality control methods before WW2.
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Productivity is calculated as the ratio of inputs to outputs.
Productivity is calculated as the ratio of inputs to outputs.
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Quality may remain constant even if the quantity of inputs and outputs changes.
Quality may remain constant even if the quantity of inputs and outputs changes.
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External elements have no impact on productivity levels.
External elements have no impact on productivity levels.
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Production measures both output and efficiency.
Production measures both output and efficiency.
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Henry Ford was paid $5/day to his workers in 1911.
Henry Ford was paid $5/day to his workers in 1911.
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Services are economic activities that always produce tangible products.
Services are economic activities that always produce tangible products.
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Study Notes
Learning Objectives
- Define operations management as the set of activities creating value by transforming inputs into outputs.
- Identify the ten strategic decisions essential in operations management.
- Explore various career opportunities within the field of operations management.
- Distinguish between goods and services in the context of operations management.
- Explain the concepts of production and productivity and their differences.
- Compute single-factor and multifactor productivity metrics.
- Recognize critical variables that enhance productivity within operations.
Operations Management
- Production refers to the creation of goods and services.
- Operations management (OM) involves managing processes that increase efficiency, effectiveness, and value of operations.
Essential Functions in Organizations
- Marketing generates demand for products and services.
- Production/operations focus on creating products.
- Finance/accounting manages the financial health of the organization, including billing and collections.
The Supply Chain
- A global network of organizations involved in the production and delivery of goods and services.
- Collaboration among supply chain members is essential to achieve customer satisfaction and competitive advantage.
Importance of Studying OM
- OM is a core function of organizations alongside marketing and finance.
- Understanding OM provides insights into production processes and operational efficiency.
- Operations managers play a crucial role in shaping organizational performance.
- OM represents a significant cost component within businesses.
Basic Management Functions of Operations Managers
- Planning: Developing strategies for operations.
- Organizing: Structuring tasks and resources to meet operational goals.
- Staffing: Recruiting and training employees.
- Leading: Motivating and directing employees in operations.
- Controlling: Monitoring performance and making adjustments as needed.
Ten Strategic Decisions in Operations Management
- Design of Goods and Services: Affects cost, quality, and sustainability.
- Managing Quality: Focuses on meeting customer quality expectations through policies.
- Process and Capacity Strategy: Involves decisions on production technology and investments.
- Location Strategy: Considers proximity to customers, suppliers, and labor.
- Layout Strategy: Ensures effective flow of materials and personnel within facilities.
- Human Resources and Job Design: Key to recruiting and retaining skilled workers.
- Supply Chain Management: Integrates supply chain efforts with organizational strategy.
- Inventory Management: Balances ordering and holding inventory to optimize satisfaction.
- Scheduling: Manages short-term and intermediate schedules to meet demands.
- Maintenance: Ensures reliable operations by considering facility and personnel needs.
Career Opportunities in OM
- Roles include introducing technology, enhancing response time, and managing customer service.
- Opportunities exist for improving quality, inventory control, and overall productivity.
- Operations management positions impact various sectors due to the universal need for efficient processes.
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Description
Test your knowledge on key strategic decisions in operations management, including process and capacity strategy, location strategy, layout strategy, human resources and job design, supply-chain management, inventory management, scheduling, and maintenance. This quiz covers topics from Managing Quality 6 to copyright issues.
