P370 - ICORE OPS Midterm Briggs Questions With

P370 - ICORE OPS Midterm Briggs Questions With Complete Solutions 2024 Graded A+ Operations - Correct Answer conversion of inputs ($ energy people info) to useful g/s Operations Management - Correct Answer design, operations, and improvement of the production system that creates the firms primary g/s Transformations - Correct Answer inputs --> outputs people plants parts processes planning and control Strategic Decisions - Correct Answer LT - acquistion of new resources Tactical Decisions - Correct Answer MT - utilization of existing resources Operation Decisions - Correct Answer ST - execution of schedules and control activities Operations strategy - Correct Answer how to best use production resources for firms LT competitive strategy Operations Hierarchy: Internally neutral - Correct Answer - do what you do and dont mess up Operations Hierarchy: Externally Neutral - Correct Answer keep up and match performance of competition - following industry best practice (but dont initate best practice) Operations Hierarchy: Internally Supportive - Correct Answer formulate and adhere to corportate strategy - ensure strategic consistency in processes and tech Operations Hierarchy: Externally supportive - Correct Answer use operations to competitive advantage - full partner in co --> accounting for ops in all decisions -- proactive > reactive 1 / 2

Operations Priorities: Cost - Correct Answer can be primarily or exclusively cost competition -- commodities

• little differentiation btwn competitors prods
• mature industries
• high vol demand
• high competition

Operations Priorities: product quality - Correct Answer high performance prods considered "elite" w/in their trade Operations Priorities: reliability / process quality - Correct Answer meets our own standards consistent and predictably Operations Priorities: delivery speed and reliability - Correct Answer fast? on time? JIT?Operations Priorities: flexibility - Correct Answer can change quickly to meet customers needs Operations Priorities: changing demands - Correct Answer efficiently scale up or down in volatile mkt Operations Priorities: special services - Correct Answer produce specific criteria order qualifier - Correct Answer minimum level of acceptability order winners - Correct Answer product feature used to select to pur from pool of acceptable prods of quality standards How to develop strategy: - Correct Answer 1. segment market according to market group

• identify prod reqs, prod potential, profit margin for each group
• determine order winners and qualifiers for each group
• convert order winning criteria into specific performance reqs
• / 2