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business > AOS 3 Unit 3 > Flashcards

AOS 3 Unit 3 Flashcards

1
Q

operations management

A

the coordination of resources within a business to achieve the efficient and effective output of finished goods and services.

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2
Q

efficiency

A

how productively a business uses its resources (ie. time, labour, machinery, technology) when producing a good or service.

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3
Q

effectiveness

A

the extent. to which a business achieves its stated objectives

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4
Q

To make a profit

A

Relo to ops management: producing high quality products at low prices - customer reputation increases - sales increase.

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5
Q

to increase market share

A

Relo to ops management: producing high quality products at low prices - customer reputation increases - sales increase. if increase relative to competitors, then the business will see an increase in market share

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6
Q

meet shareholder expectations

A

Relo to ops management: use strategies to improve quality and reduce waste - sales and revenue increase and costs go down - profit increases - shareholder dividends and share prices increase, allowing the business to meet shareholder expectations

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7
Q

fulfil a market need

A

Relo to ops management: producing high quality products at a low prices to fulfil a market need

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8
Q

fulfil a social need

A

Relo to ops management: minimising waste by recycling products means that less rubbish gets sent to landfill or pollutes the environment. this allows the business to fulfils a social need

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9
Q

to improve efficiency

A

Relo to ops management: Using strategies such as automated production lines to make more goods with fewer resources (i.e. time, labour, raw materials), a business will be able to..

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10
Q

to improve effectiveness

A

Relo to ops management: Using strategies such as robotics to increase accuracy, improve quality and meet market needs, in order to.

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11
Q

inputs

A

The resources used by a business to produce a good or service

ie. materials, labour, technology, capital, utilities, information/knowledge, entreprenurial skills, time

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12
Q

processes

A
  • the actions performed by a business to transform inputs into outputs
  • usually ends in -ing

ie. storing, sorting, blending, packing

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13
Q

outputs

A

The final goods or services produced as a result of a business’s operations system that are delivered or provided to customers

ie. results of the process state in form of goods/services

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14
Q

manufacturing businesses

A

use resources and raw materials to produce a finished physical good.

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15
Q

service

A

provide intangible products usually with the use of specialised expertise.

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16
Q

manufacturing operations characteristics:

A

tangibility: tangible

production/consumption pattern: occurs seperately

storability: easily stored

production method: standardised and mass produced

degree of customer contact: minimal contact

production technique: capital intensive production

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17
Q

standardised goods

A

goods that are produced consistently and are virtually identical to one another.

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17
Q

service business characteristics

A

tangibility: intangible

pattern/consumption pattern: occurs simultaneously

storability: difficult to store

production method: often customised

degree of customer contact: high degree

production technique: labour intensive

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18
Q

automated lines

A

involved machinery and equipment that are arranged in a sequence, and the product is developed as it proceeds through each step

optimises operations, using computers and software that enhance production

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19
Q

efficiency - automated lines

A

automated production lines can be performed at speeds much faster than humans, reducing the amount of time taken to produce outputs thus removing productivity

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20
Q

effectiveness automated lines

A

automated production lines perform tasks with a high degree of accuracy, which can decrease the number of errors that may occur during production. Reducing errors in production can enhance the overall quality of the final predict which can increase customer satisfaction, sales and market share

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21
Q

online services

A

services that are provided in via the internet

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22
Q

effciency online services

A

online services can remove the need for employees to perfom certain tasks and enable labour resources to be used more efficiently

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23
Q

effectiveness online serivces

A

implementing online services within an operations systems can improve connivence for customers increasing levels of customer satisfaction sales and market share.

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24
Q

strengths - online services

A
  • businesses can use cloud services to allow employees flexibility in working remotely
  • customers can access business services 24/7 from anywhere in the world
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25
Q

limitations - online services

A
  • initially expensive to set up software platforms
  • if systems fail, the provision of services could experience major disruptions
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26
Q

automated lines strengths

A
  1. save costs as human labour is replaced by amchines
  2. production runs 24/7 - faster, efficient
  3. higher accuracy/precision
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27
Q

automated lines limitations

A
  • intially expensive to set up
  • if systems fails the production process could see major disruptions.
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28
Q

materials management

A

Managing materials involves organising and monitoring the delivery, storage, and use of raw materials (one of our resources) required for production.

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29
Q

forecasting

A

is a materials planning tool that predicts customer demand for an upcoming period using past data and market trends.

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30
Q

forecasting efficiency

A

forecasting decreases the likelihood of ordering and storing excessive amounts of materials which optimises the use of resources by reducing wastage

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31
Q

forecasting effectiveness

A

forecasting improves a business’s ability to meet customer demand which can contribute to increased customer satisfaction, sales and market share

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32
Q

forecasting strengths

A

+Allows businesses to anticipate seasonal changes and adjust orders to save on costs and wastage, which benefits their environmental reputation.
+It can help to prevent over-ordering taking up valuable storage space.

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33
Q

forecasting limitations

A

–The ‘running backwards looking over your shoulder’ principle – unexpected events can still catch you out.
–Requires a lot of time to track, anticipate, and analyse all potential impacts on the supply chain.

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34
Q

master production schedule

A
  • a plan that outlines what a business intends to produce, in specific quantities within a set period of time
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35
Q

Just in time

A

is an inventory control approach that delivers the correct type and quantity of materials as soon as they are needed for production

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36
Q

JIT effectiveness

A

a reduction in idle stock can reduce expenses associated with waste which can meet the objective of increased profit

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37
Q

JIT efficiency

A

minimising the amount of stock held can prevent resources from becoming damaged or expiring, allowing resources to be used optimally

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38
Q

JIT strengths

A

+When working perfectly, this should lead to elimination of all waste, including:
-No raw material wastage.
-No storage space required.
- No idle machines.

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39
Q

JIT weaknesses

A

–Hugely reliant on suppliers to deliver on time, all of the time. If this fails, the entire production line is disrupted.
–Delivery costs may increase if more frequent deliveries are needed.

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40
Q

quality

A

is a good or service’s ability to satisfy a customers need

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41
Q

reactive

A

is responding to a situation after something has occurred

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42
Q

quality control

A

involves inspecting a product at various stages of the production process, to ensure it meets designated standards, and discarding those that are unsatisfactory.

43
Q

QC efficiency

A

identifying and fixing - cause of error - reduces number of potential errors - halt production - flow continuously without interference - increasing productivity.

44
Q

QC effectiveness

A

removing defective products prevents customers from receiving faulty goods or services. this can allow a business to meet the objective of increasing sales and market share.

45
Q

QC strengths

A

+Prevents poor quality goods or services reaching the consumer.
+It works well for standardised production, e.g. cars, chocolate.

46
Q

QC limitations

A

–Is very wasteful, as the rejected products involve raw materials, time, and processes which are not sold to the customer.
–It doesn’t always isolate the cause of the problem.

47
Q

quality assurance

A
  • When a business achieves a certified standard of quality in its production after an independent body assesses its operations system.
48
Q

proactive

A

Performing actions to prevent problems before they occur.

49
Q

QA EFFICIENCY

A
  • Preventing errors before they occur reduces the number of faulty products produced,
    reducing a business’s waste. This can allow a business to optimise its use of resources.
50
Q

QA effectiveness

A

Customers are more inclined to purchase from a business with certified quality standards. This can allow a business to increase its sales and meet the objectives of increasing profit and market share.

51
Q

QA strengths

A

+Gives a competitive advantage
+Reduces wastage, as the proactive focus aims to stop errors occurring before the good or service is produced

52
Q

QA limitiations

A

–Gaining certification can be expensive.
–Preparing documents and processes prior to inspection can take some time.

53
Q

total quality management

A

A holistic approach whereby all employees are committed to continuously improving the business’ operations system to enhance quality for customers.

54
Q

TQM efficiency

A

Continuously improving the quality of the production system can prevent errors from occurring and reduce the number of discarded products. This can allow a business to optimise its use of resources.

55
Q

TQM effectiveness

A

By determining the needs and wants of
a customer, TQM can improve levels of customer satisfaction and allow a business to meet the objectives of increasing sales and profit.

56
Q

TQM strengths

A

+Zero defects.
+Greatly reduced wastage by being proactive rather than reactive.
+Employee empowerment.
+Higher customer satisfaction and improved business reputation. This can be a major source of competitive advantage.

57
Q

TQM Limitations

A

–Requires a whole business cultural shift, which can be time consuming and expensive to implement.

58
Q

QC & QA similarites

A
  • both reduce the number of faulty products reaching customers
  • both strategies require a good or service to meet standards
59
Q

QC and QA differences

A

Quality control is reactive as it identifies and eliminates errors after they occur. On the other hand, quality assurance is proactive as it prevents errors from occurring.

  • Quality control does not involve external certification. In contrast, quality assurance involves a business receiving certification after it meets standards set by an external body.
60
Q

QC and TQM similarities

A

Both strategies can be implemented to see notable improvements in the quality of the final output.
* Both strategies are internally controlled and involve employees assessing quality.

61
Q

QC & TQM differences

A
  • Quality control focuses on setting predetermined standards of quality in the first stage of this strategy. TQM focuses on continuously developing and improving standards.
  • Quality control is reactive as it identifies and eliminates errors after they occur. TQM is proactive as it aims to prevent errors from occurring.
62
Q

QA and TQM similariteis

A

Both strategies are proactive as they prevent errors from occurring.
* Both strategies improve the process of producing a good or service.

63
Q

QA and TQM differences

A

Quality assurance focuses on meeting set standards of quality to gain external certification, whereas TQM focuses on internally developing and improving standards within the business.
* TQM does not involve external certification. However, quality assurance involves a business receiving certification after it meets standards set by an external body.

64
Q

waste minimisation

A

the process of reducing the amount of unused material, time, or labour within a business (RRR)

65
Q

waste efficiency

A

by minimising the amount of time wasted in operations a business produces goods and services at a quicker rate, increasing efficiency

66
Q

waste effectiveness

A

reducing waste lowers operational costs which can allow for a business to offer lower prices to customers. this can increase the number of sales and meet the objective of increasing market share. this increase in sales will also increase revenue, which can assist in the achievement of making a profit.

67
Q

Reduce

A

aims to decrease the amount of resources, labour,or time discarded during production.

68
Q

reuse

A

aims to make use of items which would have otherwise been discarded.

69
Q

recycle

A

aims to transform items which would otherwise have been discarded.

70
Q

lean management

A

The process of systematically reducing waste in all areas of a business’s operations system whilst simultaneously improving customer value.

71
Q

lean management strategy - pull

A

custoomers determining the number of products that should be produced

72
Q

lean management strategy - one piece flow

A

focuses on one piece at a time. a single prodcut moving through all stages of production one at a time

73
Q

lean management strategy - Takt

A

synchronising the steps of a business’s operations system to meet customer demand.

74
Q

zero defects

A

involves a business preventing errors from occurring in the operations system by ensuring there is an ongoing attitude of maintaining a high standard of quality for the final output.

75
Q

zero defects efficiency

A
  • The zero defects strategy involves
    continuously aiming to minimise errors
    and, therefore, can reduce the number
    of materials that are discarded during
    the production process, increasing
    productivity.
76
Q

zero defects effectiveness

A
  • The zero defects strategy aims for
    continuous improvement and may lead to
    customers receiving high-quality products
    that have no defects, improving their
    satisfaction and increasing the business’s
    sales. This can consequently allow a
    business to better fulfil a market need.
77
Q

lean management strengths

A

+Increased efficiency, effectiveness, and quality of processes.
+Lowers the cost of production.
+Lean management makes things better for the employee as they concentrate only on the things that matter to the end customer. This will in turn improve employee satisfaction.

78
Q

lean management limitations

A

–Requires a cultural shift
and training to identify added value and reconfigure production or service processes.
–Requires continuous improvement mentality
to achieve zero defects.

79
Q

CSR

A

is the ethical conduct of a business beyond legal obligations, and the consideration of social, economic, and environmental impacts when making business decisions.

80
Q

limitations CSR

A

–Can be time consuming to establish.
–Can sometimes be expensive to support ‘non-core’ activities.

81
Q

CSR considerations - inputs

A

sourcing materials that are sustainable

82
Q

CSR consdierations - outputs

A

recycling/biodgratable products

83
Q

CSR considerations - processes

A

Reducing waste during production is a CSR consideration for processes. reduce waste - forecasting

84
Q

global sourcing of inputs

A

A business acquiring raw materials and resources from overseas suppliers.

85
Q

overseas manufacturer

A

A business producing goods or services outside of the country where its headquarters are located

86
Q

global outsourcing

A

Transferring specific business activities to an external business in an overseas country.

87
Q

outsourcing

A

The transfer of specific activities to an external business.

88
Q

global outsourcing strengths

A

+Access to cheaper labour rates.
+The business is not directly responsible for non-core services, employees, and their entitlements.
+Works well with IT based services, where internet and phone developments mean that employees could be based anywhere in the world.

89
Q

outsourcing limitations

A

–Reduced control over the other business’s activities, and their actions may reflect negatively on your reputation.
–Language barriers in dealing with overseas businesses sometimes translates into customer frustration.
–The supplier country’s corporate social responsibility and legal standards may be different.

90
Q

Global sourcing of inputs and overseas manufacturing similarities

A
  • Both have the potential to improve quality and reduce production costs.
  • Products or raw materials and resources travel between countries during delivery.
91
Q

Global sourcing of inputs and overseas manufacturing differences

A
  • Global sourcing of inputs involves acquiring resources and raw materials from overseas suppliers for manufacturing in the business’s main country of operation.
  • Overseas manufacture involves a business’s manufacturing phase occurring in a country outside of the business’s main headquarters.
92
Q

global sourcing of inputs and global outsourcing similarities

A
  • Both allocate certain business tasks to external businesses.
  • Both allow the business to reduce operational expenses.
93
Q

global sourcing of inputs and global outsourcing differences

A
  • Global sourcing of inputs involves acquiring resources and raw materials from overseas suppliers for manufacturing in the business’s main country of operation.
  • Global outsourcing involves the completion of specific business activities, such as IT services, in a country outside of the business’s main headquarters.
94
Q

overseas manufacturing and global outsourcing similarities

A
  • Both involve the execution of business activities in a location away from the business’s main headquarters.
  • Both allow the business to reduce operational expenses.
95
Q

overseas manufacturing and global outsourcing differences

A
  • A business retains full control of its operations when implementing manufacturing overseas.
  • A business that implements global outsourcing retains little control over the transferred activities.
96
Q

procurement

A

the procuess a company uses to plan, source, purchase and pay for goods and services

97
Q

supply chain management

A

the act of finding, procuring and managing resources and suppliers ctirical to an organisations operations

98
Q

Rio Tinto

A

tangibility: iron ore, bauxite, iron ore
P/C: occurs seperately
storability: easily stored
production method: standardised production - steel, aluminum, copper
customer contacts: minimal
production techniques: capital intentsive
CSR considerations:
reduce net carbon emissions to 0 by 2050 - 31.1 mill metric tonnes of CO2
diversity quotas

99
Q

Telstra

A

tangiablity: intangible
p/c: simultaneously
storability: difficult
production method - customised to customer - plans and gig networks ie. 4 or 5G
customer contact: high
production technique: labour intensitve
CSR considerations:
- QL disasters - assistance, extra data free
- diverse/inclusive workforce
- cultural learning opporutnities with 1st nations to develop relationship

100
Q

master production schedule

A

plan outlines what a business intends to produce in specific quantities within a set period of time

101
Q

effectiveness MPS

A

likely to produce correct quanitity of products = satisfaction and sales

102
Q

efficency MPS

A

reduction. of waste - production of excessive amount of products

103
Q

strengths MPS

A

aids in determining ordering quantities and times and clear for staff to understand

104
Q

limitations MPS

A

difficult to account for every situation and not flexible to hanging conditions

business (7 decks)

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