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Operations and Supply Chain Management > CH 1: Introduction to Operations Management > Flashcards

CH 1: Introduction to Operations Management Flashcards

1
Q

what major functions is a business managed through

A

finance, marketing, and operations management

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2
Q

what is finance responsible for

A

cash flows, current assets, and capital investments

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3
Q

what is marketing responsible for

A

sales, generating customer demand, and understanding customer wants and needs

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4
Q

what is operations management responsible for

A

planning, organizing, and controlling the resources needed to produce goods and services

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5
Q

what is operations management

A

management of processes to produce goods and services

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6
Q

process

A

sequence of activities that uses resources to achieve a desired outcome

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7
Q

good

A

tangible item

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8
Q

service

A

act or work

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9
Q

efficiency

A

measures amount of resources used to produce one unit of output

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10
Q

effectiveness

A

measures extent an operation is achieving intended goals

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11
Q

why is operations management important

A

every aspect of organization is affected by or affects operations

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12
Q

what is the role of operations management

A

transforms organizational inputs to outputs

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13
Q

organizational inputs

A

human resources, facilities, processes, technology, materials

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14
Q

organizational outputs

A

goods, services

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15
Q

what does the production of goods or services involve

A

transformation/conversion process

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16
Q

transformation

A

turning a raw product into a finished good/service

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17
Q

customer feedback

A

used to adjust inputs, transformation processes, and output characteristics

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18
Q

value added

A

net increaser between output and input value

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19
Q

more value added

A

more productive business

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20
Q

no value added

A

waste of activity

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21
Q

services characteristics

A

intangible, cannot be inventoried, high customer contact, short response time, labor intensive

22
Q

goods characterisitcs

A

tangible, inventoried, low customer contact, longer response time, capital investment

23
Q

quasi-manufacturing organization

A

service/manufacturing blend

24
Q

quasi-manufacturing characteristics

A

low customer contact and capital incentive

25
Q

operations interfaces

A

accounting, MIS, purchasing, personnel/human resources, manufacturing/engineering, maintenance, product design, logistics

26
Q

designing decisions

A

1-5 years
capacity, location, equipment, processes, layout

27
Q

planning/control decisions

A

1-12 months/1-12 weeks
quality, inventory, material, production, scheduling, project management

28
Q

strategic decisions

A

set direction of entire company, broad in scope and long term in nature

29
Q

tactical decisions

A

focus on specific day-to-day issues, narrow in scope, short term in nature

30
Q

decision process tools

A

models, quantitative techniques, analysis trade-offs, system approach, establishing priorities, and ethics

31
Q

models

A

abstraction of reality

32
Q

quantitative approaches

A

focus on objective measurements and analysis of numbers to draw conclusions

linear programming, queuing techniques, inventory techniques, project techniques, and statistical techniques

33
Q

analysis trade-off

A

balance achieved by two incompatible features, measure the advantages and disadvantages of both to choose optimal outcome

34
Q

systems approach

A

set of interrelated parts that must work together, the output and objective take precedence over those of any one department

35
Q

establishing priorities

A

Pareto phenomenon: a few factors account for a high percentage of the occurrence of some events

80/20 rule: 80% of the problems are caused by 20% of the activities

36
Q

ethical

A

moral principles that govern a persons behaviour, managers must make ethical decisions

37
Q

industrial revolution

A

late 1700s

brought in innovations that changed production by using machine power instead of human

38
Q

scientific management

A

early 1900s

brought concepts of analysis and measurement of the technical aspects of work design and development of moving assembly lines and mass production

39
Q

human relations movement

A

1930s - 1960s

focused on understanding human elements of job design, such as worker motivation and job satisfaction

40
Q

management science

A

1940s - 1960s

focused on development of quantitative techniques to solve operations problems

41
Q

computer age

A

1960s

enabled processing large amounts of data and allowed widespread use of quantitative techniques

42
Q

just in time systems (JIT)

A

1980s

designed to achieve high-volume production with minimal inventories

43
Q

total quality management (TQM)

A

1980s

sought to eliminate causes of production defects

44
Q

reengineering

A

1980s

required redesigning a company’s processes in order to provide greater efficiency and cost reduction

45
Q

flexibility

A

1990s

offered customization on a mass scale

46
Q

time-based competition

A

1990s

based on time, such as speed of delivery

47
Q

supply chain management

A

1990s

focused on reducing overall costs of the system that manages the flow of materials and information from supplier to final customer

48
Q

electronic commerce

A

2000s

uses the internet to sell and buy goods and services

49
Q

outsourcing

A

2000s

obtaining goods or services from an outside provider to achieve speed and flexibility

50
Q

trends in business

A

internet and ecommerce, management technology, globalization, management of supply chains, sustainability

51
Q

what is supply chain management

A

strategic coordination of the flow of goods and services to and from a company

Operations and Supply Chain Management (7 decks)

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