001 Flashcards
1
Q
The part of the business organization that’s responsible for producing goods and services.
This is the administration of the business structure, practices and processes to enhance efficiency and maximize profit.
A
Operations Management
2
Q
The process involved in the production, delivery, and management of tangible and intangible products and services
A
The Operations of Goods and Services
3
Q
Focuses on long term success through customer satisfaction
A
Total Quality Management
4
Q
Focuses on streamlining processes to enhance technology and identifying ways by focusing on value adding activities.
It aims to eliminate waste, improve flow and maximize value.
A
Lean Manufacturing
5
Q
This is used to track productivity and identify key areas for improvement
A
Performance Metrics
