Marketing dictionaryOperational EffectivenessAny kind of practice which allows a business or other organization to maximize the use of their inputs by developing products at a faster pace than competitors or reducing defects, for example. Operational effectiveness is often divided into four components: Leading and controlling functional performance, measuring and improving the process, leveraging and automating process and continuously improving performance. Show Back to previous Browse A-ZSelect a letter to find terms listed alphabetically.
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Terms in this set (100)One reason for studying operations and supply chain management (OSCM) is which of the following? All managers should understand the basic principles that guide the design of transformation processes. The Goods-Services Continuum consists of which set of the following categories? Pure goods, core goods, core services, pure services Which of the following are defined as core goods? Data storage systems Current issues in OSCM do not include: Increasing global supply chain employment Which of the following are not listed in the text as jobs in OSCM? Data Center manager Which of the following is not a characteristic that distinguishes services from goods? Service jobs are unskilled Which of the following is not a way that operations and supply processes are categorized? Selecting One of the "package of features" that make up a service is: Facilitating goods Which of the following is not a measure of operations and supply chain management efficiency used by Wall Street? Earnings per share Which of the following is a measure of operations and supply management efficiency used by Wall Street? Receivable turnover Managing customer touch points becomes a concern under current issues in OCSM when: Firms striving to become superefficient begin to scrimp on staffing and training customer support personnel. What kind of product is defined by a set of intangible features? A service When considering the concept of value how is quality defined? By the attractiveness of the product considering its features and durability Efficiency means doing the right things to create the most value for the company FALSE - Efficiency means doing something at the lowest possible cost. Effectiveness means doing the right things to create the most value for the company TRUE - Effectiveness means doing the right things to create the most value for the company A doctor completes a surgical procedure on a patient without error. The patient dies anyway. In operations management terms we could refer to this doctor as being efficient but not effective TRUE - Efficiency means doing something at the lowest possible cost. Effectiveness means doing the right things to create the most value. The doctor performed the surgery without error. Because the patient died, no value was created A worker can be efficient without being effective TRUE - Efficiency means doing something at the lowest possible cost. Effectiveness means doing the right things to create the most value. These are different things A process can be effective without being efficient TRUE- Often, maximizing effectiveness and efficiency at the same time creates conflict between the two goals. "Being efficient" at the customer service counter at a local store or bank means using the smallest number of clerks possible at the counter. Being effective, though, means minimizing the amount of time customers need to wait in line Operations and supply chain management is defined as the design operation, and improvement of the systems that create and deliver the firm's primary products and services TRUE - Operations and supply chain management is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services The term "value" refers to the relationship between quality and the price paid by the consumer TRUE- Related to efficiency and effectiveness is the concept of value, which can be metaphorically defined as quality divided by price Attempting to balance the desire to efficiently use resources while providing a highly effective service may create conflict between the two goals TRUE - Often maximizing effectiveness and efficiency at the same time creates conflict between the two goals Central to the concept of operations strategy are the concepts of operations focus and trade-offs TRUE - Central to their thinking was the notion of factory focus and manufacturing trade-offs. Because a factory cannot excel on all performance measures, its management must devise a focused strategy, (to perform) a limited set of tasks extremely well. This requires trade-offs OSCM is concerned with management of the trickiest parts of the system that produces a good or delivers a service FALSE - OSCM is concerned with the management of the entire system that produces a good or delivers a service OSCM is a functional field of business with clear line management responsibilities TRUE - OSCM is a functional field of business with clear line management responsibilities The supply network as can be thought of as a pipeline through which cash material, and information flows FALSE - Think of the supply network as a pipeline through which material and information flows Which of the following is not a major strategic operational competitive dimension that forms a company's competitive position? Management acumen A major competitive dimension that forms a company's strategic operational competitive position in their strategic planning is which of the following? Cost or price When developing an operations and supply chain strategy which of the following is an important product-specific criterion to consider? Technical liaison In development of an operations and supply chain strategy which of the following may be an important product-specific criteria to consider? Supplier after-sale support When a company seeks to match the benefits of a successful position while maintaining its existing position in offering customers a variety of differing services what is this process called? Straddling An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers Which of the following is a partial measure of productivity? Output / All resources used Which of the following is a multifactor measure of productivity? Output / (Labor + Capital + Energy) Which of the following is a total measure of productivity? Output / Inputs If all you knew about a production system was that total daily output was 400 units and the total labor necessary to produce the 400 units was 350 hours what kind of productivity measure could you use to compute productivity? Partial measure If all you knew about a production system was that total daily output was 400 units and the total labor necessary to produce the 400 units was 350 hours and the total materials used were 425 units, what kind of productivity measure could you use to compute productivity? A and B above The total output from a production system in one day is 500 units and the total labor necessary to produce the 500 units is 350 hours. Using the appropriate productivity measure which of the following numbers represents the resulting productivity ratio? 1.428 The total output from a production system in one day is 900 units and the total labor necessary to produce the 900 units is 900 hours. Using the appropriate productivity measure what is the resulting productivity ratio? 1.000 Larry's Auto Body Repair Shop had revenues that averaged $60000 per week in April and $50,000 per week in May. During both months, the shop employed six full-time (40 hours/week) workers. In April the firm also had four part-time workers working 25 hours per week but in May there were only two part-time workers and they only worked 10 hours per week. What is the percentage change in labor productivity from April to May for Larry's Auto Body Repair? 8.95% What is the percentage change in SunPath's total productivity measure between 2015 and 2016? 2.88 What is the percentage change in the energy partial productivity measure for SunPath between 2015 and 2016? -0.53% What is the percentage change in the labor partial productivity measure for SunPath between 2015 and 2016? 2.33 What is the percentage change in the multifactor labor and raw materials productivity measure for SunPath between 2015 and 2016? -0.53 What is meant by the term "operations effectiveness?" Performing activities in a manner that best implements strategic priorities at minimum cost Decisions that relate to the design of the processes and the infrastructure needed to support these processes relate to which OSCM concept? Integrating operations and supply chain strategy with a firm's operational capabilities In a partial measure of productivity the denominator of the ratio would include all resources used or all inputs (FALSE) In a partial measure of productivity the denominator includes only a single input In a multifactor measure of productivity the numerator of the ratio would include all resources used or all inputs (FALSE) In a multi-factor measure of productivity the denominator includes several but not all input The triple bottom line considers evaluating the firm against social economic, and environmental criteria (TRUE) The triple bottom line considers evaluating the firm against social, economic, and environmental criteria Sustainability means meeting a firm's current needs without excessively compromising the ability of future generations to meet their own needs (FALSE) By adding "sustainability" to the concept (of strategy), we add the requirement to meet these current needs without compromising the ability of future generations to meet their own needs. (Excessively is not mentioned The social impact of the triple bottom line concept pertains to fair and beneficial business practices toward labor the community, and the region in which a firm conducts its business (TRUE) "Social" pertains to fair and beneficial business practices toward labor, the community, and the region in which a firm conducts its business A project can be subdivided into which of the following? Work packages A project starts out as which of the following? A Statement of Work What is a work breakdown structure? A definition of the hierarchy of project tasks, subtasks, and work packages In a Gantt chart the horizontal axis is usually which of the following? Time Which of the following is a graphic project report used in project management? Cost and performance tracking schedule An advantage of a pure project where self-contained teams work full time on a project is which of the following? Lines of communication are shortened Some of the advantages of a functional project where the project is housed in a functional division include which of the following? A team member can work on several projects A series of projects that are organized in such a way that each project utilizes people from different functional areas is using which of the following organizational structures? Matrix project You are looking at a chart that has the terms BCWS BCWP, and AC indicating lines on the chart. What kind of chart are you looking at, EVM Chart PERT is an abbreviation for which of the following methodologies Program Evaluation and Review Technique You have just been assigned to oversee a series of projects. Functional areas will loan you personnel for each project and separate project managers will be responsible for separate projects. These project managers will report to you. Which project management structure is being used? Matrix Project You have been placed in charge of a large project. Shortened communication lines are required to ensure quick resolution of problems as they arise. You recognize that the project is going to take a lot of time and require a lot of team pride motivation, and commitment by all members. Which project management structure should you use in this situation Pure Project A simple project listing of five activities and their respective time estimates are presented below:Using CPM which activities make up the critical path A, B, D, E Using CPM what is the Latest Finish Time for the last activity in this project (i.e., the total time to complete the project) 12 days Using the CPM which activities have slack in this project C A company must perform a maintenance project consisting of seven activities. The activities their predecessors, and their respective time estimates are presented below: Using CPM which activities make up the critical path (A, B, D, F, G) A company must perform a maintenance project consisting of seven activities. The activities their predecessors, and their respective time estimates are presented below: Using CPM which activities have slack in this project? (C,E) For an activity in a CPM analysis the Early Start time is 8 and the Late Start time is 10. Which of the following statements is true The slack for this activity is 2 For an activity in a CPM analysis the Early Finish time is 20 and the Late Finish time is 20. Which of the following statements is true The activity is on the critical path A listing of immediate predecessor activities is important information in a CPM analysis for which of the following reasons It specifies the relationships in the CPM network of activities
You have just performed a CPM analysis and have found that more than one path through the project network has zero slack values. What can you conclude You have multiple critical paths You know when you have arrived at the optimal solution in using the Time-Cost CPM Scheduling model analysis when what happens You have reached the minimum total cost In CPM analysis it is generally expected that the relationship between activity direct costs and project indirect costs will be which of the following Negatively related In a project analysis using three time estimates with more than one critical path existing how does the project manager decide which variances to use in arriving at the probability of meeting the project due date? The project manager uses the largest variances in order to understate the probability of on-time completion The major goal of Critical Path analysis is to To determine when each activity in the project should be scheduled Using the assembly-line balancing procedure which of the following is the required cycle time in minutes per unit if the daily production time is 480 minutes and the required daily output is 50 units? 9.6 Using the assembly-line balancing procedure which of the following is the required cycle time if the production time in minutes per day is 1440 and the required output per day in units is 2000? 0.72 Using the assembly-line balancing procedure which of the following is the theoretical minimum number of workstations if the task times for the six tasks that make up the job are 4, 6, 7, 2, 6, and 5 minutes, and the cycle time is 10 minutes? 3 You have just determined the actual number of workstations that will be used on an assembly line to be 6 using the assembly-line balancing procedure. The cycle time of the line is 5 minutes and the sum of all that tasks required on the line is 25 minutes. Which of the following is the correct value for the resulting line's efficiency? 0.833 Using the assembly-line balancing procedure which of the following is the theoretical minimum number of workstations if the task times for the eight tasks that make up the job are 7, 4, 7, 8, 9, 4, 3, and 6 minutes, and the cycle time is 8 minutes? 6 You have just determined the actual number of workstations that will be used on an assembly line to be 8 using the assembly-line balancing procedure. The cycle time of the line is 10 minutes and the sum of all that tasks required on the line is 60 minutes. Which of the following is the correct value for the resulting line's efficiency? 0.750 When balancing an assembly line which of the following is not a way to reduce the longest task time below the required workstation cycle time? Speed up the assembly line transfer mechanism Which of the following is not a step in developing a manufacturing cell layout? Disposing of left-over machinery and outsourcing ungrouped processes Which of the following is not considered a major work flow structure? Fabrication A difference between project and continuous flow categories of process flow structures is which two of the following? The size and bulk of the product Which of the following is a basic type of process structure? Workcenter Which of the following is not a basic type of process structure? Product-process matrix Which of the following basic types of process structures is one which equipment or work processes are arranged according to the progressive steps by which the product is made? Assembly line Which of the following basic types of process structures is one which similar equipment or functions are grouped together? Workcenter The placement of which of the following is not determined by production process organization decisions? Emergency exits According to Little's Law which of the following ratios is used to find throughput rate? Inventory /Flow time According to Little's Law which of the following can be used to estimate work-in-process inventory? Throughput rate times Flow time A firm fills its customer's orders from finished goods inventory. It is a Make to order firm A firm will work with a customer to design the product and then make it from purchased materials, parts, and components. This firm is called An engineer to order firm Which of these expressions is Little's Law? All of the above In a workcenter machine A has a ten minute set-up time per batch and a two minute per unit run time. Machine B performs the identical function but has a set-up time of thirty minutes and a one minute run time per unit. The workcenter makes products in batches ranging from one unit to one hundred units. Assuming capacity is not a limitation on either machine, on which batches should machine B be used? Batches of more than 20 units should be run on machine B Using the assembly-line balancing procedure which of the following is the theoretical minimum number of workstations if the task times for the six tasks that make up the job are 4, 6, 7, 2, 6, and 5 minutes, and the cycle time is 10 minutes? None of these (3, 5, 6, 8) Process selection refers to the strategic decision of selecting which kind of production processes to use to produce a product or provide a service (TRUE) Process selection refers to the strategic decision of selecting which kind of production processes to use to produce a product or provide a service A continuous process indicates production of discrete parts moving from workstation to workstation at a controlled rate (FALSE) A continuous process is similar to an assembly line in that production follows a predetermined sequence of steps, but the flow is continuous such as with liquids, rather than discrete. The volume requirements for the product are one determinant of the choice of which process structure to select (TRUE) Two dimensions (of the product/process matrix, exhibit 6.3) are shown. The first dimension relates to the volume of a particular product or group of standardized products. 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What are examples of operational effectiveness?Measuring operational efficiency involves keeping track of a company's inputs and outputs as performance indicators. Typically, these performance indicators relate to efficiency, quality or value. Examples of this include automation accuracy, quality indexes and customer satisfaction.
How do you evaluate operational effectiveness?How Do You Calculate Operational Efficiency for a Business? To calculate your business's operational efficiency, tally all of your operating expenses and divide the sum total by your total revenue.
What is operational efficiency and effectiveness?The definition of operational efficiency or "operational effectiveness" in a business context is the degree to which an organization can deliver its goods and services with minimal waste.
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What is meant by the term operations effectiveness?
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