2.4 Operations strategies Flashcards

1
Q

What are 6 performance objectives in operation?

A
  • Highest quality or services
  • Faster speed and productivity
  • Being more dependable
  • Being more flexible than its rivals
  • Offering customization
  • Production at lower cost
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2
Q

What is the idea of a new product or service design development?

A
  • Redesign product/ services, add features to extend its product life cycle.
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3
Q

What is the supply chain?

A
  • The flow of goods and services to customer.
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4
Q

What is 3 supply chain management?

A
  • Logistics, E-commerce, global sourcing.
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5
Q

What is logistics?

A
  • Distribution of goods and services but include transportation, use of storage, warehousing and distribution centres, materials handling and packaging.
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6
Q

What is E - commerce ?

A
  • The use of internet to sell and buy products
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7
Q

What is global sourcing ?

A
  • Is where business source from international market to enable access resources that were beyond business reach
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8
Q

What is out sourcing and provide 2 advantages and disadvantages?

A
  • Is the use of external providers such as contractors to perfoem a business activities.
  • Adv :+ Access to expertise knowledge because that is their core function
    + Increased quality of outputs
  • Disadv : + Breakdowns in outsourced business, which affects the entire operations
    + Lower lead time and respond to the market
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9
Q

What is technology in operations?

A
  • Is the equipmen, materials and knowledge available to help business perform certain function
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10
Q

What are 3 aim of technology?

A
  • To save time and money
  • To introduce new products or services
  • To giive business a better control of operations, especially in quality.
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11
Q

What is leading edge and how its help?

A
  • Provide better operations as business have lastest technology and force competitors to follow
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12
Q

What is established technology and how its help?

A
  • Software , hardware show operations in business, such as Gantt chart or CPA, help operation more efficient and effective.
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13
Q

What is inventory and why inventory control is important?

A
  • Is where stocks are held, it is important because business must have enough stock to provide customers demand while not too much which will lead to inefficient and costly to operation
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14
Q

What is holding stock strategies and 2 advantages and disadvantages?

A
  • Holding stock is the method of keeping stock as reserve to cover for interruption or unexpected increase
  • Adv : + Stock ready for sell
    + Opportunity to discount when ordering stock in bulk
  • Disadv : +Stock may become obselete
    + More cost for security and storage
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15
Q

What is FIFO, LIFO , JIT inventories management strategies?

A
  • First in First out (foods in supermarket)
  • Last in First out (machiery parts )
  • Just in Time (any)
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16
Q

What does quality management involve?

A
  • Control quality of products or services that business offer to customers
17
Q

3 main approach to quality management

A
  • Quality control
  • Quality assurance
  • Quality improvement
18
Q

What is quality control?

A

-Checking, inspection at various points of the production process to check for problem and defects

19
Q

What is quality assurance?

A
  • Involve the use of a system to ensure that the set standards of production are achieved.
20
Q

What is quality improvement?

A
  • Improve business’s good and services, Total quality management can achieved through bench marking, continuous improvement
21
Q

What are driving forces?

A
  • Are factors that push business towards the need for change.
22
Q

What are retaining forces?

A
  • Are factors that hold business back and resist changes
23
Q

What are 5 ways to overcoming resistance to change?

A

( * Notes: these ways of change is resist by the cost of it to do these change )

  • Purchasing new equipment
  • Redundancy payments
  • Retraining
  • Reorganising plant layout
  • Inertia
24
Q

What are 4 global factors?

A
  • Global sourcing
  • Economies of scale
  • Scanning and learning
  • Research and development
25
Q

What is global sourcing, difficulties have to take account of and solution?

A

-Global sourcing is sourcing inputs oversea to get low-cost materials. Things must consider:
+ Language and cultural business
+ Less control over quality and reliability of inputs
+ Possibilities of competitors use the same supplier
- To overcome this, manager can outsourcing experts in the field of global sourcing solution

26
Q

What is economies of scale and what might happen as business grow too big and solution?

A
  • Is the increased size of the business, expanding its operations by locating facilities closer to materials or deliver services to a larger market, therefore costs of production will spread out and cost is reduced.
  • If a business grow too big, its operations will be more complex and be inefficiency and difficult to control by operation managers.
  • To overcome this, business can join venture or alliance with other companies in the same industry, share workload.
27
Q

How do a business scan and learn?

A

By having the operation manager the opportunity to scan the global environment to identify and learn about the critical trends.

28
Q

What global developments do business have to scan and learn about?

A
  • Global demand, what parts of world are rising, parts are shrinking.
  • The emergence of new competitors
  • Labour and environmental protection laws
  • Supplier of transformed and transforming resources with low cost source.
29
Q

What is research and development?

A

Is an innovation strategy for the creation of new products or improvements of existing ones.

30
Q

2 advantages and disadvantages of Research & Development??

A

Adv: - Extend product cycle
- Give the business a reputation as a leading innovator
Disadv : - Can be wasteful, some innovation never make to market
- May have ethical issues involve