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Operations Strategy Fundamentals
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Operations Strategy Fundamentals
Operations Strategy Fundamentals
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1
Question
What are the four priorities that operations strategy must emphasize to create a competitive edge?
Answer
Cost, quality, speed, and flexibility.
2
Question
How does cost leadership contribute to competitive advantage in operations strategy?
Answer
By removing waste, improving processes, using technology wisely, and training people well.
3
Question
What practices ensure a focus on quality in operations strategy?
Answer
Setting clear standards, checking work consistently, and improving continuously.
4
Question
Why does speed and delivery reliability matter in operations strategy?
Answer
Customers notice when orders arrive on time.
5
Question
When is flexibility particularly important in operations strategy?
Answer
When demand shifts or products need to change quickly.
6
Question
What mnemonic helps remember operations strategy priorities?
Answer
Ask what the customer values most and how operations can deliver it better than competitors.
7
Question
What role does operations strategy play between company goals and daily work?
Answer
It serves as the bridge connecting big goals to everyday operations.
8
Question
How is operations strategy described in terms of value delivery?
Answer
The plan behind the scenes to make, move, and deliver value efficiently.
9
Question
What elements does operations strategy manage to meet customer expectations?
Answer
Production, inventory, supply chains, and quality.
10
Question
What outcomes does effective operations strategy achieve for the business?
Answer
Meets customer expectations, controls costs, stays flexible, and competes well.
11
Question
To what sectors does operations strategy apply?
Answer
Manufacturing and services, as every organization coordinates processes, resources, and customers.
12
Question
Why must operations strategy align with business strategy?
Answer
So the whole company pulls in the same direction.
13
Question
What benefits does team cohesion provide in operations strategy?
Answer
Faster work, higher productivity, and greater satisfaction.
14
Question
How does team cohesion support alignment in operations?
Answer
Through clear communication, understanding company goals, and reduced micromanagement.
15
Question
What practices help operations adapt to market dynamics?
Answer
Listening to customers, monitoring trends, encouraging innovation, and building flexible processes.
16
Question
How is operations strategy characterized in relation to market needs?
Answer
A living connection between what the market wants and what operations can deliver.
17
Question
What does location strategy evaluate for facility placement?
Answer
Proximity to customers, suppliers, labor, or transport links.
18
Question
How does Walmart exemplify effective location strategy?
Answer
Stores in dense areas and warehouses positioned for efficient goods movement.
19
Question
What factors guide technology and automation choices in operations strategy?
Answer
Improvements in speed, accuracy, and cost, fitting budget and existing processes.
20
Question
What comprises workforce and human resource strategy in operations?
Answer
Right number of people with right skills, plus training and engagement.
21
Question
What four questions guide production and process design?
Answer
What resources needed, what output aimed for, what constraints slow down, how flexible for demand changes.
22
Question
What is the goal of inventory and supply chain management?
Answer
Smooth materials and products flow without tying up cash in stock.
23
Question
What methods balance shortages and overstocking in inventory management?
Answer
JIT (just in time) and EOQ (economic order quantity).
24
Question
What does quality control ensure in operations building blocks?
Answer
Output meets standards.
25
Question
What does capacity planning prevent in operations?
Answer
Collapsing under future demand pressure.
26
Question
What challenges do global supply chains handle?
Answer
Supplier selection, logistics, regulation, and risk across countries.
27
Question
What benefits arise from well-managed global supply chains?
Answer
Reduced costs, raised customer satisfaction, expanded market reach.
28
Question
What is outsourcing in operations strategy?
Answer
Sending non-core work to external specialists.
29
Question
What is offshoring and its purpose?
Answer
Relocating work to another country for lower cost or special talent.
30
Question
Name emerging technologies improving operations strategy.
Answer
AI, data analytics, IoT, AR, VR, and blockchain.