1. One of the reasons why operations management is so important to organizations and managers is that it plays a strategic role in an organization’s competitive success.

2. The transformation process is as evident in service organizations as it is in manufacturing organizations.

3. The U.S. economy, and to a large extent the global economy, is dominated by the creation and sale of physical goods.

4. For individual organizations, increased productivity gives them a more competitive cost structure and the ability to offer more competitive prices.

5. High productivity can come solely from good people management.

6. To improve management’s productivity, managers should concentrate on departmental or divisional distinctions.

7. By the late 1970s, U.S. manufacturers were able to make better quality goods less expensively than foreign companies.

VALUE CHAIN MANAGEMENT

8. Value is provided to customers through transforming raw materials and other resources into some product or service that end users need or desire when, where, and how they want it.

9. Supply chain management is internally oriented and focuses on efficient flow of incoming materials to organizations.

10. The goal of value chain management is to create a value chain strategy that meets and exceeds customers’ needs and desires and allows for full and seamless integration among all members of the chain.

11. Managing an organization from a value chain perspective is easy.

12. Better demand forecasting is necessary and possible because of closer ties with customers and suppliers.

13. Selected functions may need to be done collaboratively with other partners in the value chain.

14. Old measures are adequate for evaluating performance of various activities along the value chain.

15. It’s important that managers outline expectations for what’s involved in the organization’s pursuit of value chain management.

16. The organization’s hiring process must be designed to identify those employees who have the ability to learn and adapt.

17. When there’s too much trust, partners in a value chain will be reluctant to share information, capabilities, and processes.

18. Managers must motivate high levels of effort from employees.

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