AFM 132 - chp 9: Operations management

Question 1

define operations management

Answer 1

looks at how a company creates goods an services for their customers through effective management of their resources and processes

Question 2

what questions are asked in regards to product and services in operation management

Answer 2

products: are they manufactured efficiently while meeting specific quality standards

services: are quality experiences provided to customers at a reasonable cost?

Question 3

what’s a common theme in operations management

Answer 3

how to be more productive

Question 4

what helped to kickstart mass production in america?

Answer 4

henry ford’s moving assembly line

Question 5

what has mass production lead to?

Answer 5

automation

Question 6

how has mass production and automation transformed society?

Answer 6

increased jobs, growing middle class, and high skilled jobs

Question 7

how has mass production and automation transformed manufacturing

Answer 7

standardized processes, lower costs, higher quality/reliability, just-in-time processes, customization

Question 8

productivity and innovation can provide a country ______ on the global stage

Answer 8

competitive advantage

Question 9

approximately ___ of working Canadian are employed in the ____ sector

Answer 9

80%, service

Question 10

Canada’s economy is still driven by

Answer 10

primary and secondary industries

Question 11

Canada placed __ in the WEF global competitiveness rankings, how was this measured?

Answer 11

placed 14th

measured: economic performance infrastructure, health, education, technological readiness, innovation

Question 12

what are the 2 strategies to grow innovation?

Answer 12

driving innovation in Canada through strategic partnerships between business, academia, and the government

the government can support innovations in manufacturing and technology through their policies or funding (tax credits, grants)

Question 13

what factors make it hard for innovation to be driven within a company

Answer 13

1. company leadership
2. established cultures and procedures
3. short term focus on success

Question 14

why are some companies more successful at innovating?

Answer 14

1. companies that instill an entrepreneurial mindset
2. smaller, more flexible organization can quickly adapt to changes in the marketplace
3. risk taking is rewarded

Question 15

define productivity

Answer 15

examines the efficiency of operations to transform inputs into outputs

Question 16

how do improvements to productivity occur?

Answer 16

1. use fewer inputs to make the same level of outputs
2. use same level of inputs to make more outputs

Question 17

what are some strategies to improve productivity

Answer 17

1. improving efficiency of production processes
2. waste reduction
3. improving quality

Question 18

define activity-based management (ABM)

Answer 18

aims to reduce or remove non-value adding activities to save time and money

Question 19

what are the factors to take in consideration when deciding where to locate HQ at for a company?

Answer 19

1. proximity to customer - lower costs, and reduced time to market if close
2. proximity to resources
3. government support

Question 20

what are the 3 common facility layout?

Answer 20

1. product/line layout
2. process or functional layout
3. fixed position layout

Question 21

individual spaces used to account for ____ of the workplace

Answer 21

85%

Question 22

collaborative spaces now dominate ___ of the total office space

Answer 22

65%

Question 23

why would a company outsource

Answer 23

1. reduce or control costs
2. gain access to expertise or technology
3. free up internal resources

Question 24

an outsourcing requires:

Answer 24

reliance on suppliers or other partners, quality check and flexibility check

Question 25

what are the goals for efficient production

Answer 25

1. produce at the lowest possible cost 2. produce in a timely manner 3. produce to an acceptable level of quality

Question 26

what are some considerations that can help improve the purchasing process

Answer 26

1. materials requirement planning - setting budgets _ determining what to purchase based on sales forecasts 2. establishing relationships with a few suppliers - time + money = saved by managing fewer relationships and by having the ability to negotiate better prices with large orders

Question 27

define just in time inventory management

Answer 27

where supplies are ordered and delivered just in time to go into the production line - requires appropriate forces to know how much to order and seamless coordination with carefully picked suppliers

Question 28

what are some considerations in selecting a supplier

Answer 28

1. reliability 2. quality 3. logistics

Question 29

how can seamless coordination between companies and suppliers be supported?

Answer 29

good communication and sharing of data between company and suppliers, building trust and understanding through an ongoing relationship.

Question 30

define the 3 production processes

Answer 30

1. made to order - a company will accept individual orders and produce products to the required specifications of a customer 2. mass production - to manufacture a large volume of similar good in an efficient manner 3. mass customization - tailoring a large volume of products to meet the needs of many customers

Question 31

define quality

Answer 31

meeting a certain level of standards or being free of deficiencies

Question 32

what's the international organization for standardization

Answer 32

worldwide body composed of member from more than 160n national stanards bodies that encourages knowledge sharing of best prctices in management and production to set international standards

Question 33

what does ISO 9000 and ISO 14000 focus on?

Answer 33

9000 - focus on standards for quality 14000- focusing on environment and sustainability

Question 34

define total quality management

Answer 34

a continuous process to improve product quality and customer satisfaction

Question 35

define supply chain management

Answer 35

managing the logistics for a product from sourcing its raw materials all the way to delivering the finished product to customers and managing the relationships with suppliers and those that will be involved with transportation and distribution along the way

Question 36

what's teh main objective of supply chain managemnt

Answer 36

ensure efficiency and quality throughout the process

Question 37

what questions does the supply chain management ask?

Answer 37

do you have the optimal number of partners? are you able to reduce costs? do you have flexibility and speed? can you ensure that the eventual customer will be satisfied?

Question 38

how can sustainability be considered in managing a supply chain

Answer 38

use of renewable energy in operations, sourcing materials sustainably

Question 39

what are the 2 tools that can be used to plan and monitor the progress of projects/operations

Answer 39

1. program evaluation and review technique (PERT) 2. gantt charts

Question 40

what's PERT?

Answer 40

a plannign tool that considers the teasks involved and the relationsips between tasks - helps predict the overall duration of a project

Question 41

what steps are involved in PERT?

Answer 41

1. identifyng the tasks required to get the job done 2.estimating the time required to complete each task 3. plotting out and sequencing the tasks - tasks = organized into what needs to occur sequentially and what can occur simultaneously along with other tasks 4. identifying the critical path

Question 42

define the critical path in PERT

Answer 42

the sequence of tasks that will take the longest time to complete

Question 43

what's a Gantt chart

Answer 43

a planning tool that measures progress, and can show what tasks are being worked on and what stage they're in - shows actual progress

Question 44

what are some investments into innovation from a company perspective

Answer 44

1. research + development 2. lean manufacturing 3. technology in operations

Question 45

what's the importance of R&D?

Answer 45

drive innovation, include efforts to increase production capacity or improve product quality - important to economic growth and competitiveness on global stage

Question 46

define lean manufacturing

Answer 46

looks a how a company can provide a product/service as quickly as possible by using the least amount of resources possible

Question 47

what's the goal of lean manufacturing

Answer 47

to make high-quality goods at the lowest cost by focusing on continuous improvement to improve the way you do business by reducing time, mistakes, and overall effort

Question 48

what are the technological tools in computing?

Answer 48

computer-aided design (CAD) - software can help design products through 2D/3D modelling and developing diagrams for products and their component parts computer-aided manufacturing (CAM) - use of technology that can take designs and inform equipment how to manufacture the products computer-integrated manufacturing (CIM) - the integration of CAD with CAM software programs where these systems can directly connect with each other

Question 49

how has technology aided the manufacturing process

Answer 49

3d printing can create prototypes more quickly compared to existed manufacturing techniques that may take more time, people, and resources robotics and AI streamline systems to think and act like humans

Question 50

how has technology aided in managing overall operations

Answer 50

help to keep track on inventory as a business grows

Question 51

define an enterprise resource planning system (ERP)

Answer 51

software that manages key functions in a company through a shared information database

Question 52

benefits of an ERP system

Answer 52

integrated info between various functions across a company allows all business functions to be able to see an order, be productive and act on what they need to do and be in sync.