Chapter 1 Flashcards
What is Operations Management?
Addressing efficiency cost and operations from product to client
4 aspects of Operations management
Design, creation, management, and improvements of goods
What is supply chain management
managing flow of materials, information, and people from suppliers to customers
Process Design
Best way to produce product
Inventory Management
Finding best materials cost and inventory order schedule
Product scheduling
Ensuring enough product is available
Quality Management
Ensure each product is of highest quality, proper labels
Common communication scenarios
Talking with managers to see if company is capable of supplying product. Handling production, quality and shipping issues
what are 3 types of goods
good, durable good, nondurable good
what is a durable good
one that lasts 3 years
what is a nondurable good
it is no longer good once used or lasts less than 3 years (a service is nondurable)
What is a service encounter
Any interaction leading to receiving service(ex: a helpful vs unhelpful employee)
Consumer demands what?
innovation, quality, good service, reasonable price
how to increase value?
- increase perceived benefit-same cost 2. increase benefit-reduce cost 3. decrease cost- same benefit
what is value
perception of benefit to price
customer benifits package(cbp)
set of goods, services, feature
what is a peripheral
not essential to primary good but enhance it(free car wash or warranty)
what is a variant
specialized good
biztainment
something that enhances experience
value chain vs supply chain
entire production network vs physical movement of goods
what is a process
sequence of activities to produce a repeatable result
input output frame
suppliers-> good creation-> good delivery
pre/post production frame
creation of goods then retention of customer through support services
hierarchical supply
organizing of product creation to end sale in a hierarchy
business analytics
turning data into actionable information
vlc
value of loyal customer
taguchi
economic tolerance and loss
location analysis
least-cost location
quality
how good it meets customer requirements
good quality
physical performance
tangible
physical attributes
reliability
ability to perform
responsiveness
ability to recover customer incident
assurance
trust customers have in product
empathy
caring attitude
service upset
errors in service
2 time measurements
speed and variance
queue time
wait time
types of flexibility
design and volume flexibility
innovation
create new goods
learning
knowledge transfer
productivity formula
quantity of output to input
efficiency
minimum waste of resources
triple bottom line
environmental social and economic impact
