Questions

If total productivity was $0.65 of output/$ of input in June and $0.55 of output/$ of input in July, what is the percentage change in total productivity between the two months?

(new-old)*100 ------------------ Old =-15.39

Assume that, among multiple production factors, a firm employed non-zero amounts of labor and energy to manufacture finished goods. If the partial productivity of labor is $3.50 of output per $ of labor, then the multi-factor productivity of labor and energy must be ?

< $3.50 of output/$ of labor

What is operations management (OM) ?

Activities that relate to the creation of goods and services through the transformation of inputs to outputs

A strategy that is not one of the 10 strategic operations management decisions is: ?

Advertising strategies

Services often?

Are knowledge based

ExxonMobil is one of world's largest oil and gas companies. What layout would best support Exxon's oil refineries?

Continuous process

Services are ?

INTANGIBLE activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value

Multi-factor productivity is ?

Indicates the ratio of goods and services produced (outputs) to many or all resources (inputs).

Single-factor productivity is ?

Indicates the ratio of goods and services produced (outputs) to one resource (input)

Productivity increases when: ?

Inputs decrease while outputs remain the same Outputs ---------- Inputs

Productivity: ?

Is the SAME thing as effectiveness

What are the 3 productivity variables ?

Labor (10%), capital (38%), and management (52%).

Productivity increases each year in the U.S. are a result of three factors: ?

Labor, capital, management

What process strategy would be best suited for making digital cameras?

Repetitive

What is production ?

The creation of goods and services

Stakeholders are ?

Those with a vested interest in an organization

Single-factor productivity: ?

Usually uses labor as a factor

Multifactor productivity: ?

Usually uses substitutes as common variables for the factors of production.