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
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.
3
Q
What is the supply chain?
A
- The flow of goods and services to customer.
4
Q
What is 3 supply chain management?
A
- Logistics, E-commerce, global sourcing.
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.
6
Q
What is E - commerce ?
A
- The use of internet to sell and buy products
7
Q
What is global sourcing ?
A
- Is where business source from international market to enable access resources that were beyond business reach
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
9
Q
What is technology in operations?
A
- Is the equipmen, materials and knowledge available to help business perform certain function
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.
11
Q
What is leading edge and how its help?
A
- Provide better operations as business have lastest technology and force competitors to follow
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.
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
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
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)