Business Notes Operations Flashcards
Define Operations
Refers to the business process that involves the transformation of an input into an output
What is the stategic role of operations managment
- Cost leadership
- Good/service differentiation
What are the influences of Operations
- Globilistation, Technology, Quality expectation, Cost-based competition, Government/legal, enviornment sustainabillity.
- Corporate social responsbility
Under influences what are the corporate social responsbillities of the business
- The difference between legel and ethical responsibllity
- Enviornmental sustainabillity and social responsbillity
What are the operation Processes
- Inputs
- Transformation Process
- Outputs
Under operations process inputs… what are the two main inputs of a business
- Transformed inputs (materials, information, customers)
- Transforming inputs (Human resources, Facillities)
What are the elements involved in the transformation process of operations
- The influence of the 4 V’s
- Variey
- Volume
- Varaiation in demand
- Visiblity - Sequencing and Scheduling - Gantt charts and critical path anaylsis
- Technology, task design and process layout
- Monitoring control and improvment
What are the elements of the outputs refering to operations
- Warranties
- Customer service
Regarding Operations Strategy… what are some performance objectives
Quality, speed, dependability, flexability, customisation, cost
Regarding Operations strategy… what are some supply chain managment strategies
Logistics, E-commerce, Global sourcing
what are some adv and dis adv for outsourcing for a business
Adv
- More time to focus on important things of the business
- Increased accountabillity
Dis
- Cost
- Not maintain a good idea of the roles of what the business events, therefore could be hella bad
Operation strategies relating to technology
- Leading edge technology
- Established ( Tried and proven to work)
List the inventory managment strategies
- LIFO(Last in First out)
- FIFO(First in first out)
- JIT(Just in time)
What are some advanteges and disadvantges of holding stock
Adv
- Simplification
-Cost saving
-Efficiency
Dis
- Cost
-Issues with communication
Define quality managment
Quality managment refers to those processes that a busines undertakes to ensure consistency, reliability, safety and fitness of the product.
What is quality control
It Inspects, measures and checks for Defects
What is quality assurance
The application of international and quality standards.
What is quality improvment
Total quality managment and continues improvment. a quality management approach used to identify and remove the causes of problems in the operations process.
what is total quality managment
a system of management based on the principle that every member of staff must be committed to maintaining high standards of work in every aspect of a company’s operations.
What are some operation strategies for overcoming resistence to change
- Financial costs
- Purchasing new equitments
- Redundancy payments
- Retraining
- Reorginising plant layout
- Inertia
Operation strategies refering to Global factors
- Global sourcing
- Economies on scale
- Scanning and learning
- Research and development