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everything > business UNIT 3 AOS 3 > Flashcards

business UNIT 3 AOS 3 Flashcards

1
Q

operations management

A

Operations management is the general coordination of a business’ various resources to achieve the efficient and effective output of finished goods and services.

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2
Q

business objectives

A

to make a profit
to fulfil a market need
to improve efficiency and effectiveness
to increase a market need
meet shareholder expectations
social need

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3
Q

Efficiency

A

This relates to a process (working towards an outcome)
Efficiency is how well a business uses resources to achieve its objectives

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4
Q

effectiveness

A

relates to the actual outcome
effectiveness is the degree to which a business has achieved it stated objectives

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5
Q

operations system

A

An operations system is the series of steps that encompasses everything from the inputs to production, right throughout the process of their transformation, leading to the final output of production.

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6
Q

inputs

A

It refers to all the resources that go into producing a good or service.
Human resources (labour) – their skills, effort, knowledge, entrepreneurial ideas, intellectual property…
Raw materials
Component parts
Buildings and facilities
Machinery and equipment
Time

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7
Q

processes

A

this stage involves all the transformational activities performed to the inputs, to convert them into the finished product (outputs).
Melting, mixing, pouring, setting, checking, packaging, mining, advising…

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8
Q

outputs

A

It refers to the final products that are ready for sale and are presented to the customer either as goods (tangible) or services (intangible)

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9
Q

manufacturing

A

tangible goods
easily stored
minimal customer contact

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10
Q

services

A

intangible services
production and consumption a simultaneous
hard to store
mainly labour intensive

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11
Q

automated production lines

A

consists of machinery and equipment arranged in a sequence with components added to a good as it proceeds through each step, with the process controlled by computers.

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12
Q

ROBOTICS

A

Highly specialised form of technology capable of complex tasks

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13
Q

advantages of automated production line

A

Allows a business to produce at faster rates - this will result in higher output and increased productivity.

Reduced need for human labour allows a business to produce at reduced cost and increased productivity.

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14
Q

disadvantages of automated production line

A

Robotics are high-cost forms of technology that can be unaffordable for many small and medium-scale manufacturers.

Robotics can be costly to maintain or replace.

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15
Q

COMPUTER-AIDED DESIGN

A

computerised design tool that allows a business to create product possibilities Where a business is able to see the 2-D or 3-D version of a product

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16
Q

DISADVANTAGES OF COMPUTER-AIDED DESIGN

A

Computer software can crash, resulting in the possible loss of work.

Costs of software can be expensive.

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17
Q

ADVANTAGES OF COMPUTER-AIDED DESIGN

A

Product designs can be produced at a faster rate, without the need for erasing and redrawing.

The designer can produce a two- or three-dimensional computerised version of a product

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18
Q

COMPUTER-AIDED MANUFACTURING

A

Computer-aided manufacturing (CAM) is an operations technique that involves the control of machinery and various pieces of equipment through the use of a computer.

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19
Q

DISADVANTAGES OF COMPUTER-AIDED MANUFACTURING

A

Computer software can crash, resulting in production stopping.
CAM-enabled machinery is generally designed for a specific task, and is typically not versatile.

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20
Q

ADVANTAGES OF COMPUTER-AIDED MANUFACTURING

A

faster rates at reduced cost
Allows a business to produce with greater consistency

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21
Q

ARTIFICIAL INTELLIGENCE

A

Artificial Intelligence (AI) is the ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans, with the feature of so called human intelligence.

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22
Q

materials management

A

focuses on managing the way inputs are received and stored.
It also makes sure the right quantity and right quality of inputs are available at the right time.

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23
Q

FORECASTING

A

This materials planning tool relies on data from the past and present, allowing business to analyse trends so that it can predict future events.
predicting what materials are required, when they are required, and how much is required.

24
Q

ADVANTAGES OF FORECASTING

A

Ensures that the business does not find itself under-producing

25
Q

DISADVANTAGES OF FORECASTING

A

Making use of historical data does not necessarily guarantee that past events will continue into the future

26
Q

MASTER PRODUCTION SCHEDULE

A

‘who’, ‘what’ ‘when’ ‘where’ and ‘how’ of production.

27
Q

MATERIALS REQUIRMENT PLANNING

A

‘how much’ needs to be ordered for production, and when it needs to be ordered.

28
Q

JUST IN TIME

A

A materials management strategy that insures the right amount of material inputs will arrive only as they are needed in the operations process

29
Q

ADVANTAGES OF MPS & MRP

A

Both strategies allow a business to avoid overproducing

30
Q

DISADVANTAGES OF MPS & MRP

A

Both strategies rely on accurate information - if incorrect information is used, it will lead to errors in the material planning process.

31
Q

INVENTORY CONTROL

A

Inventory control ensures that costs are minimised and that the operations system has access to the right amounts of inputs when required.

32
Q

ADVANTAGES OF JIT

A

Holding less stock in storage reduces storage costs - improves efficiency and effectiveness

33
Q

DISADVANTAGES OF JIT

A

Supplier deliveries must be reliable - a limited amount of materials will be held in inventory so a supplier failing to deliver can hold up production

34
Q

QUALITY CONTROL

A

involves the use of several internal checks at various stages of the production process to ensure that goods and services being produced meet predetermined standards set by the organisation.

35
Q

QUALITY ASSURANCE

A

This quality strategy involves an external organisation being ‘invited’ into the business to assess and audit the processes of that business against the assurer’s own predetermined standards.

36
Q

DIFFERENCE BETWEEN QC AND QA?

A

QC - Uses pre-determined standards that are set internally, by the organisation themselves

QA- Uses pre-determined standards that are set externally, by an organsation specialising in certification

37
Q

TOTAL QUALITY MANAGEMENT

A

organisation-wide approach to quality, where there is a focused commitment to quality and excellence in all aspects of work

38
Q

WASTE MINIMISATION

A

Waste minimisation refers to when a business reduces or minimises the amount of unusable or unwonted goods thrown out by them created by a businesses production

39
Q

waste minimisation strategies

A

reduce, reuse, recycle

40
Q

reduce

A

By achieving less waste, a business can decrease its costs, which improves

41
Q

LEAN MANAGEMENT

A

that improves the efficiency and effectiveness of operations by eliminating waste and improving quality

42
Q

PRINCIPLES OF LEAN MANAGEMENT - PULL

A

This relates to the avoidance of overproduction and stockpiling.

43
Q

PRINCIPLES OF LEAN MANAGEMENT - TAKT

A

This refers to the rate of production needed to meet customer demand.

44
Q

PRINCIPLES OF LEAN MANAGEMNT - ONE PEICE FLOW

A

This largely relates to eliminating waiting time or idle time.

45
Q

PRINCIPLES OF LEAN MANAGEMNT - ZERO DEFECTS

A

This is all about the business striving for perfection

46
Q

Examples of CSR in the INPUTS stage

A

The environmentally sustainable sourcing of inputs

47
Q

Examples of CSR in the PROCESSES stage

A

Reducing carbon footprint during production

48
Q

Examples of CSR in the OUTPUTS stage

A

Eliminating packaging where possible

49
Q

GLOBAL SOURCING

A

the practice of seeking the most cost-efficient materials and other inputs, including from countries overseas.

50
Q

ADVANTAGES OF GLOBAL SOURCING

A

Access to cheaper materials
Access to greater quantity of materials

51
Q

DISADVANTAGES OF GLOBAL SOURCING

A

Can lengthen procurement (supply) times
Exposure to changes in exchange rates

52
Q

OVERSEAS MANUFACTURING

A

refers to the production of a good in a country that is different to the location of the businesses’ headquarters

53
Q

OVERSEAS MANUFACTURING ADVANTAGES

A

Access to lower labour costs
Access to labour skills that may not be available in the domestic country

54
Q

OVERSEAS MANUFACTURING DISADVANTAGES

A

Can be quite complicated to manage
Jobs are lost in domestic manufacturing

55
Q

GLOBAL OUTSOURCING

A

Global outsourcing is the contracting of a specific business operation to an external person or business in another country.

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