Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

OCSM303 > Ch 1: Operations and Productivity > Flashcards

Ch 1: Operations and Productivity Flashcards

1
Q

Operations management(om) definition

A

The set of activities that creates value in the form of goods and services by transforming inputs into outputs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

production definition

A

The creation of goods and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

To create goods and services, all organizations perform 3 functions

A

-marketing
-operations and production
-finance/accouting

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Marketing

A

Generates demand
Starting point for sales

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Production/operations

A

creates,produced, delivers the product

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

finance/accoutning

A

tracks how well the organization is doing, pays the bills, and collects the money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is the supply chain

A

A global network of organizations and activities that supply a firm w goods and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

what are the four reasons we study OM

A

1- OM is one of the 3 major functions of any organizations and is related to all other business functions

2- We want and need to know how goods and services are produced

3- We want to understand what OM do

4-OM is such a costly part of an organization. Large part of the revenue a firm earns is spend on the OM function

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What operations managers do? basic management functions.The management process consists

A

Planning
Organizing
Staffing
Leading
Controlling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

10 Strategic OM Decisions

A
  1. Design of goods and services
  2. Managing quality
  3. Process and capacity strategy
  4. Location strategy
  5. Layout strategy
  6. Human resources and job design
  7. Supply-chain management
  8. Inventory management
  9. Scheduling 1
  10. Maintenance
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are the OM jobs (5)

A

Improving response time

Defining and implementing operations strategy

Improving customer service

Managing quality

Enhancing productivity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Some certifications

A

APICS, ASQ, ISM

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Eli whitney

A

Credited for the early popularization of interchangeable parts

Signed a contract for 10,000 muskets and was able to commend a premium price bc of their interchangeable parts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Management should take more responsibility for

A

Matching employees to the right job

Providing the proper training

Providing proper work methods and tools

Establishing legitimate incentives for work to be accomplished

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

OM relies on contributions from

A

Industrial engineering, statistics, management, analytics, economics, physical sciences, IT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Services:

A

economic activity that typically produce an intangible object such as education or entertainment
Distinction not always clear btw goods and services

17
Q

characterisitics of services

A

Intangible
Produced and consumed simultaneously
Unique
High customer interaction
Inconsistent product definition
Often knowledge based
Services dispersed
Quality may be hard to evaluate
Reselling is unusual

18
Q

characteristics of goods

A

Tangible
Product can be kept in inventory
Similar products produced
Limited customer involvement
Product standardized
Standard tangible product tends to make automation feasible
Typically produced in a factory
Aspects of quality are easy to evaluate
Residual value

19
Q

Service pay perception

A

Common perception that service industry jobs are low paying however many pay v well

20
Q

Productivity:

A

Ratio of outputs/divided by the inputs

21
Q

Labor productivity=

A

units produced/ labor hours used

22
Q

Multifactor productivity=

A

output
/ labor+material+energy+capital+miscellaneous

23
Q

Measurement problems

A

Quality- may change while the quantity of inputs and outputs remain constant

External elements- may cause and increase or decrease in productivity

Precise units of measure- may be lacking

24
Q

Productivity increases are enhanced by 3 critical variables

A

-labor, capital, management

25
Q

Key things for improved labor

A

Basic education for the labor force

Diet of the labor force

Social overhead that makes labor available

26
Q

Challenges facing operations managers

A

Develop and produce safe, high-quality green products
Train, retrain, and motivate employees in a safe workplace
Honor stakeholder commitments

27
Q

how to find percentage increase

A

new value-old value/old value X 100

OCSM303 (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions