3.4 - Decision Making To Improve Operational Flashcards
What are operations?
A function of a business concerned with the transformation of resources
What is production?
The process by which inputs are transformed into outputs in the form of a useful product or service
What does the size and nature of a firm determine?
Often determine the manufacturing methods employed by the company
- larger companies have more finance and are therefore are more able to invest mass capital
What does SME stand for?
Small and medium enterprises
Which type of company are more able to understand individual customer needs?
Smaller firms
What are the points operations and technology?
Develop closer relationships with customers
Growth of mass customisation
Adapted to meet the individual needs of customers
What are the points for the workforce and operations?
Higher skilled staff
Skills can be expensive to employ
Can be able to charge premium prices
What are the points surrounding operational objectives?
Specifically relate to production
Relate directly to the overall corporate objectives
What is quality?
What customers expect for the price paid
What are costs in correspondence with operations?
Cost minimisation with maintenance to the quality of product
What can flexibility be used for?
Can be used as a USP
What is meant by speed of response?
A quick response to change in correspondence with customer needs
What are environmental objectives in relation to operations?
Keeping emissions of operations to a minimum
What are three ways to improve flexibility?
Zero hour contracts
Lean production
Multi skilling
What is the direct correlation of speed of response?
Speed and value
