What is a conversion function to produce goods and services via input to output?
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In: Business and Management Submitted By viewingnow INTRODUCTION TO Operations Management 1. Operations management is: The management of systems or processes that create goods and/or provide services 2. What are the three basic functions in business organizations? 1)Marketing 2)Operations 3) Finance 2. A supply chain consists of A sequence of activities and organizations involved in producing and delivering a good or service 4. What is meant by the term value-added? The amount by which the price or value of an output is increased due to the addition of material, labor, or other resource. Input, Output and Value-added. Any operation can be described as a set of inputs (i.e. labor and materials) that are transformed into a set of outputs (i.e. goods and/or services), as illustrated in Figure. The essence of operations management is value-added, or the degree to which the value of all outputs of an operation exceed the value of its inputs. 8. What is a process?... Similar DocumentsProduction and Operations Management MCQ questions with answers for NET, SET, Ph D and University objective type exams. Production and operations management multiple choice questions useful for management students like MBA, BBA, PGDM, B Com, MMS, M, Com, IB specialization and Engineering. Part 1: MCQ on Introduction to Production and Operations Management_______ is the process by which raw materials and other inputs are converted into finished goods. A. Inventory B. Logistics C. Production D. Supply chain View Hint This is the process where manufacturer buy raw material and produces final product for end users. View Explanation Production is the correct answer because it deals with buying of raw material i.e. inflow and processing raw material or assembling various parts to produce final product i.e. finished goods. This finished product can be sold to the consumer. Production system model comprises of _______. A. Production system B. Conversion sub system C. Control sub system D. All of the above View Hint Think twice before selecting any particular option. Read all options carefully and you will get the answer 😉 A System must be studied as a whole. View Answer D. All of the above View Explanation A system ca’t be taken apart. A System must be studied as a whole. Hence we can say production is the combination of Production system, Conversion sub system & Control sub system. _______is to convert a set of inputs into a set of desired outputs. A. Production system B. Conversion sub system C. Inventory sub system D. Control sub system View Hint Answer of this question is related to question number one. This process mainly deals with the use of raw material to produce final goods. View Answer A. Production system View Explanation Production system is all about processing inputs such as raw material, capital, personnel, information and utilities. Hence, correct answer of this question is production system. ______ is a subsystem of the large production system where inputs are converted into outputs. A. Control sub system B. Conversion sub system C. Inventory sub system D. Conversation sub system View Hint Please read the question again. Question itself suggests the correct answer. View Answer B. Conversion sub system View Explanation Conversion sub system is a part of production system. Production system is a large part & mainly deals with inputs of raw material to produce final i.e. finished goods. A production system model consists of ______. A. Inputs & Outputs B. Conversion sub system C. Control Sub System D. All of the above View Hint If you have attempted all previous questions, then you can easily guess the answer. Did you remember, a system must be studied as a whole. View Answer D. All of the above View Explanation Reproduction system model includes inputs of raw material, capital, utilities, environment and market. It also includes conversion subsystem which consists of of physical, locational services, storage services and other private and government services. A production system model also includes output that is finished goods or services available for end users. It also includes control subsystem to monitor all activities and it’s performance. ______ is at the heart of production function. A. Control sub system B. Conversion sub system C. Inventory Sub System D. Raw material sub system View Hint There is no hint for this question. View Answer B. Conversion sub system View Explanation Conversion sub system is the most important and essential part of the production system. Hence, we can say Conversion sub system is at the heart of production function. ______ are required to make a series of decisions in the production function. A. Personnel managers B. Marketing managers C. HR managers D. Operation managers View Hint You’ll get a 50:50 lifeline. Try between option A & D 🙂 View Answer D. Operation managers View Explanation Production management and operations management are interrelated departments. Production or operations manager can look after the production or operations department. Hence, from these four options, operations manager is the most appropriate option to chose. ______, operating and control decisions are the three categories of decisions made by operations managers. A. Planning B. Strategic C. Inventory D. Logistical View Hint There are three levels of decisions. First one deals with top level management decisions which are long term in nature. There are only two option to confuse you. Think carefully and you get the correct answer. View Explanation There are three categories of decisions made by operations managers. First is at strategic level. These are long term decisions generally taken by top level management. Shop floor planning and control is ______. A. Strategic decision B. Operating decision C. Control decision D. All of the above View Hint Option D is not for sure. So you should think between first three options. This question is about SHOP FLOOR. View Answer B. Operating decision View Explanation Shop floor planning and control is an operating decision. Production management refers to the application of Management principles to the ______ in a factory. A. Production function B. Inventory function C. Marketing function D. Supply chain function View Hint The answer is very easy to guess. Try again. Actually hint is not needed for this question 🙂 View Answer A. Production function View Explanation There is no explanation for this question. _____ is the process in which resources or inputs are converted into more useful products. A. Inventory management B. Materials management C. Operations management D. Logistics management View Hint Inventory deals with stocks. Material is related to raw material. Operations includes process related to production. Logistics deals with movement or transportation. View Answer C. Operations management View Explanation Inventory deals with inflow and outflow of material i.e. stocks. Material is related to raw material storage and requirement. Logistics deals with movement or transportation of goods. Operations includes production or process. This consists of input, processing & output. Production management and operations management can be differentiated best on ______ of finished goods and/or services. A. Inseparabilities B. Ubiquities C. Tangibilities D. Perishabilities View Hint Try between B & C. View Answer C. Tangibilities View Explanation Tangibility deals with physical or virtual nature of things. If physical, then we can say it tangible. If virtual in nature means we can not touch, see or carry, then it’s intangible. This is all about MCQ on Introduction to Production and Operations Management. Go to section 2 for more MCQ questions. What is the conversion of inputs into outputs?As previously stated, production involves converting inputs (natural resources, raw materials, human resources, capital) into outputs(products or services).
What are inputs needed in a process of conversion or the production of goods and services?Factors of production are inputs used to produce an output, or goods and services. They are resources a company requires to attempt to generate a profit by producing goods and services. Factors of production are divided into four categories: land, labor, capital and entrepreneurship.
What is the conversion process in production?A company's conversion processes involve the activities related to the transformation of resources into goods or services. These resources include the following: Materials, including raw materials inventory. Labor, namely, the human resources required for operations.
What is refers to conversion of inputs into finished product?Manufacturing is the process of transforming raw materials into ready goods, with the help of machinery.
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