Demand has four characteristics, sometimes called the Four Vs

Operations Strategy home work

Question 1

Demand has four characteristics, sometimes called the Four Vs.  Which characteristic is not part of the Four Vs?

Volume

Velocity

 Variety

 Visibility

Question 2

 Which of the following attributes are not an aspect of how Operations Strategy is different from Operations Management?

Operations strategy is longer term.

 Operations strategy is not concerned with a higher level of analysis

 Operations strategy involves a greater level of aggregation.

 Operations strategy uses a higher level of abstraction

Question 3

 Is Operations Strategy a top-down reflection of what the whole group or business wants to do?

True

False

Question 4

In Operations Strategy, what classification of a resource is not considered part of its properties:

They are scarce.

They are imperfectly mobile.

They are imperfectly imitable.

 Their value will be maintained if a competitor can copy the resource.

Question 5

The five generic performance objectives of the interaction between performance objectives and the associated decisions are Quality, Speed, Dependability, Flexibility, and Cost?

True

False

Question 6

What are the two main concepts that define a firm’s operations strategy?

The Business Model

The Operating Model

Both A and B

Neither A or B

Question 7

Operations Strategy Mapping is a procedure that attempts to clarify the cause-effect relationships in a firm’s operations strategy.

True

False

Question 8

 Select all of the primary ways in which a company can assess the performance of their Operations Strategy?

Stake Holder Perspective

The Competing Value Framework

The Five Performance Objectives

Corporate Social Responsibility Perspective

Question 9

When describing Flexibility as a performance objective, which attribute is not included in how this performance objective is measured?

Mix Flexibility

Operating Flexibility

Products / Services Flexibility

Volume Flexibility

Question 10

A trade-off is the decision you have to make when want something that requires a sacrifice?

True

False

Question 11

What system can be described as being effective for integrating the quality development, quality maintenance, and quality improvement efforts in an organization

The Four V’s

EFQM

TQM

Six Sigma

Question 12

Byusiness Process Reengineering (BPR) is the fundamental rethinking and radical redesign of technology systems to acheive dramatic improvements

True

False

Question 13

Which strategy is not part of the timing capacity change?

Supply Lags Demand

Capacity Leads Demand

Smoothing with Inventories

Capacity Lags Demand

Question 14

 What are two advantages when implementing a capacity-leading strategy?

Revenue is maximized and customers are satisfied becuase there is always sufficient capacity to meet demand.

Any critical start-up problems with new plants are less likely to affect supply customers.

Both A and B

Neither A or B

Question 15

The market requirement factors when influencing the location of a site are required service level, suitability of site, and image of location.

True

False

 

ShortAnswer

List the 5 generic performance objectives used to define Operations Performance.  Briefly explain each one and their importance in the overall operations strategy plan

When describing demand, we learned about the 4 V’s.  What are the 4 V’s and breifly explain their significant effect on how the process between operations strategy and management should be managed