ao3 unit 3 Flashcards
What is a good?
A product that is made for a customer.
What is a service?
something produced by a business in order to meet customer needs.
What is operations management?
the transformation of inputs within a business to achieve the effectiveness and efficiency of the output of goods and services.
What is IPO?
Input, processes and output.
What is a input?
the resources used by a business to produce a good or service.
What is processes?
the actions performed by a business to transform inputs into outputs.
What is outputs?
the finished good or the service produced by the business.
What is tangible product?
a product we can touch
What is intangible product?
can’t be touched but can be experienced by the consumer
What are standardized goods?
Goods that are produced consistency and are nearly identical to each other.
What is capital intensive?
when a business uses a high degree of machinery and equipment used during the production process.
What is labor intensive?
when a business uses a high degree of employee involvement during the production process
Differences between a manufacturing business and service business
With manufacturing the product is tangible and minimal customer contacts whereas a service business the product is intangible and there is a higher degree of customer contact. They are similar because both deals with customers and aim to reduce waste.
What is a automated production line?
the machinery and equipment are arranged in a sequence, where the product is developed as it proceeds through each step. Advantage is that it’s reduced wastage from improved accuracy and opportunity for production to run 24/7. Disadvantages include that it’s expensive to set up and can lead to redundancy of employees.
What is robotics?
A programmable machine that are capable of performing specified tasks. Advantages include that it gives the opportunity for production to run 24/7 and high accuracy and precision leading to increase in quality. Disadvantages include that its very expensive to set up and if the system fails it leads to major disruptions.
What is computer aided design (CAD)?
A digital design software that aids the creation, modification and optimization of a design in the process. Advantages include greater creativity and customers having flexibility to adapt changes without extra cost. Disadvantages include initially very expensive and technical training is required to operate the program.
What is computer aided manufacturing (CAM)?
The use of software that controls and directs population processes by coordinating machinery and and equipment through a computer. Advantages of this is the opportunity to run 24/7 and removes the need for humans to not do repetitive tasks. Disadvantages include that its initially expensive to set up and can lead to a large scale redundancy.
What is artificial intelligence (AI)?
The use of computerized systems to stimulate human intelligence and mimic human behaviors. Advantages include high accuracy and precision when assisting customers as well as removing the need for humans to do mundane tasks. Disadvantages is that its initially very expensive to set up and test as well as it requires technical training to maintain.
What are online services?
services provided on the internet. Advantages include customers can access the businesses service 24/7 as well as businesses can use cloud services to allow employees flexibility and to be able to work remotely. Disadvantages include that it is initially expensive to set up the software platform as well as if the system fails it can lead to disruptions.
What are the technological strategies?
Automated production lines
Robotics
Computer aided designs CAD
Computer aided manufacturing CAM
Artificial intelligence (AI)
Online services
What is forecasting?
The materials planning tool that helps predict customer demands for a certain period using past data and trends. The advantages are it allows them to save on cost as the seasons change making them save on wastage as well as helps prevent over ordering. Disadvantages include that unexpected events can damage as well as it requires a lot of time as you need to track, anticipate and analyse.
What is Master Production Schedule? MPS
A plan which outlines what a business needs to produce, how much within a time period. Advantages include it reduces wastage of raw materials as well as easier for new staff to learn the production routine. Disadvantages include its not flexible for changes as well as its initially time consuming and expensive to track, record and write up the manual
What is Materials Requirement Planning? MRP
The process that itemises the types and amount of materials required to meet the production targets set out in the mps. Advantages include that it helps reduce wastage and expenses and it can improve a companies environmental reputation. Disadvantages include that it’s time consuming to measure the levels of raw materials/stock constantly as well as it’s initially expensive to set up the system that can track materials on the site
What is just in time? JIT
The inventory control approach that delivers the correct type and quantity of materials as soon as they are needed for production. Advantages include reduced cost of storing inputs,WIP and finished products and demand is always met. Disadvantages include that it’s vulnerable to problems such as natural disasters and strikes as well as delivery costs may increase if frequent deliveries are needed
What are the materials strategies?
Forecasting
Master Production Schedule MPS
Materials Requirement Planning MRP
Just In Time JIT
What is materials management?
the administration of all activities relating to the resources or inventory required in the production process
What is technology?
the equipment and knowledge available to assist a business to function and create products
