AOS3 - Operations Management Flashcards
What is operations management?
Manages the efficiency and effectiveness of businesses when producing goods or services.
The key elements of the operations system are:
Inputs, processes and outputs
Examples of inputs are
Labour, time, raw resources
Processes refer to:
The action of transforming inputs into an output
Examples of processes could be:
Baking, building, training, driving etc. (Any verb)
Outputs are:
A finished good or service.
Characteristics of a manufacturing businesses include
Creation of tangible goods, customer not involved in process, capital intensive
Characteristics of a service business could include:
Labour intensive, customer involved in the production, intangible.
Technological developments include:
Automated production lines, robotics, computer-aided-design, computer-aided manufacturing, artificial intelligence, online services.
Materials management strategies include
Forecasting, master production schedule, material requirement plan and just in time
Quality management strategies include
Quality control, quality assurance, total quality management
Lean management strategies include
Pull, one-piece flow, takt and zero defects
Corporate social responsibility refers to
The businesses responsibilities above and beyond their legal obligations to a range of stakeholders. (environment, employees and the wider community)
Global considerations include:
Global sourcing of inputs, overseas manufacture and global outsourcing.
