Business Operations

Topics: Part-time, Supply chain management, Process management Pages: 7 (2188 words) Published: March 12, 2014
Bus 675 Final Exam (individual work only and remember to always answer all parts of the question; in some cases you have up to 3 parts in 1 questions). Keep your answers short, max one paragraph per question. 1.What is Operation, what is Supply Chain; relate this to a product or service and provide some examples?

Operations is the manufacturing and service processes that are used to transform the resources employed by a firm into products/services desired by the customer. Manufacturing takes raw resources and produces a physical product such as car or furniture where as a service produces an intangible product such as a call center or a hospital. For example, a furniture manufacturer first receives materials from its suppliers. They then manufacture the raw materials to produce furniture it can then distribute to local furniture stores. Another example of services goods would be an insurance company. An auto insurance company produces an intangible good, an insurance policy that meets a client’s specific insurance needs and requirements. Although, it can offer many types of insurance programs, they are all tailored to meet a client’s need and provide them with protection and peace of mind.

Supply chain is the process that moves information and material to and from the manufacturing and service processes of the firm. These includes the logistics processes that physically move product and the warehousing and storage processes that position products for quick delivery to the customer. In simple terms, it is the management process of the flow of goods.

2.Larry's Auto Body Repair Shop had revenues that averaged $60,000 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?

April May

6Full time Workers6Full time Workers
40FT Hr/wk40FT Hr/wk
4Part time Workers2Part time Workers
25PT Hrs/wk10PT Hrs/wk
340Hours of Labor260Hours of Labor

$60,000 Revenues$50,000 Revenues
340Hours of Labor260Hours of Labor
176.47Labor Productivity/Hr192.31Labor Productivity/Hr

8.97%Percentage Change in Labor Productivity

3.What dimension of competitiveness does time-to-market performance in product design and process selection affect? Provide some examples from market leaders or your personal experience in the business world:

~Responsiveness to Customer Needs

Product design and process selection are vital elements in any successful marketing campaign. Time to market performance means that the quicker you bring a design to market, the more units you can sell provided that your design and process are fundamentally strong.

Computers. Technology is quickly changing, though from a customer standpoint, their needs are changing at a quicker pace. The average design change in the market is currently at 6-9 months for all major corporations (Dell, HP, Toshiba). Corporations have realized the importance of providing quicker supply to the needs of their customers. Another aspect is the smartphone market, its highly expected that a “new” Apple IPhones enter the market every 12 months if not sooner due to customer needs and demands. In my personal career, the life span of medical products has a longer shelf life due to patents in place. Customer needs my be high, but due to the high investment in R&D, most competitive manufactures can only meet those needs every 7-10 yrs.

4.What is process variation? What are the types of variations? Provide definition for each and an example. A type of variation that occurs when...
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