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Business Fundamentals > Chapter 10 > Flashcards

Chapter 10 Flashcards

1
Q

Define operations management

A

Set of methods and technologies used in producing goods/services

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2
Q

Define service operations

A

Production of activities yielding tangible and intangible service products

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3
Q

Define goods production

A

Production activities yielding tangible results

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4
Q

Define time utility

A

When product is available

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5
Q

Define place utility

A

Where product is available

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6
Q

Define ownership/possession utility

A

Consumption/ use of product

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7
Q

Define form utility

A

Product’s form i.e. Transformation of raw materials into finished product

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8
Q

What is the difference between service and manufacturing operations

A
  1. Interacting with customers 2. Services can be intangible, unstorable 3. Customers presence in operations process 4. Service quality considerations
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9
Q

Define goods-producing processes

A

Methods of technology used in production of goods and services

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10
Q

What are the 3 classifications of methods and technologies in goods-producing processes

A
  1. Type of transformation technology 2. Type o process (analytic vs synthetic) 3. Amount of customer contact
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11
Q

What are the 5 types of transformation technologies

A
  1. Chemical process 2. Fabrication 3. Assembly 4. Transport 5. Clerical
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12
Q

Define the analytic process

A

Resources broken down in production process i.e. extracting minerals from ore

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13
Q

Define synthetic process

A

Resources combined in production process

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14
Q

Define the service-producing process

A

Customers involved, affecting transformation process, low contact system vs high contact system (customers physically present)

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15
Q

What are the 4 aspects of the business strategy

A

Quality, lower prices, flexibility, dependability

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16
Q

What makes up operations planning

A

Forecasting and planning, operations planning and control, capacity planning, layout planning,

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17
Q

How are operations plans successful

A

By being carefully planned and implemented

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18
Q

Define forecasting and planning (5)

A

Capacity, quality, location, layout, methods planning

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19
Q

What are the steps to operations planning and control

A

I. Business plan and forecasts,2 long-range operations plan 3. Operations schedule 4. Operations control 5. Output to customers,who then give feedback on first 4

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20
Q

Define capacity planning for g/s

A

Amount a firm can produce under normal conditionsW

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21
Q

What are the 3 conditions to capacity planning

A
  • Capacity should slightly exceed normal demand
  • Accomodate seasonal changes/peak times
  • Address ways to use excess capacity
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22
Q

What are the 3 types of layout plannins

A

Process layout, cellular layout, product layout

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23
Q

Define process layout

A

Equipment, people grouped by function

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24
Q

Define cellular layout

A

Used when families of products can follow similar flow paths

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25
Q

Define product layout

A

Organizing equipment/people to produce one type of product ex: assembly line, industrial robotics, lean manufacturing

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26
Q

What are other types of layouts currently in development

A

Flexible Manufacturing Process (FMS)
Soft manufacturing
Moveable factory

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27
Q

Define FMS

A

Production system allowing single factory to produce small batches of different goods on same production line

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28
Q

Define soft manufacturing

A

Emphasizes computer software/networks instead of production machines

29
Q

Define moveable factory

A

Purchasing relatively modern production equipment and transporting it to another location to create a new manufacturing plant, usually in developping country

30
Q

What are the 2 types of operations scheduling

A

Scheduling goods operation, and scheduling service operations

31
Q

Define scheduling goods operation

A

Master production level (top level): which products, when, what resources, what time period

32
Q

What are the 2 types of scheduling service operations

A

Low-contact services: based on desired completion dates/arrival
High contact services: customers directly involved (impacts scheduling)

33
Q

What are Gantt Charts

A

Diagram of steps in project + required time, useful in checking process

34
Q

What is a PERT chart

A

Specifies sequence, critical path of steps for a given project, identifies activities that may cause delay

35
Q

Define operations control

A

Monitoring performance by comparing results to original plan/schedule

36
Q

What are the three steps to operations control

A
  1. Follow-up ensuring production decisions are being implemented
  2. Materials management
  3. Production-process control
37
Q

Define materials management

A

Planning, organizing, controlling flow of materials from purchase to distribution of finished goods

38
Q

Examples of materials management

A

Transportation
Purchasing
Inventory Control
Supplier Selection
Warehousing

39
Q

What are the tools necessary for process control

A

Employee training
Material requirements training
Just-in-time production systems
Quality control

40
Q

Define just-in-time production systems + advantages

A

Parts delivered only when needed; helps resources continually flow from raw materials to finished products, saves on warehouse costs, helps a smooth movement of product components

41
Q

Define materials requirement planning (MRP)

A

Computerized bill of materials to estimate production needs; resources then acquired and put into production on a need basies

42
Q

Define manufacturing resource planning (MRP II)

A

Advanced version of MRP tying all parts of org into production activities such as
Production
Inventory
HR
Marketing
Finance

43
Q

Define quality

A

Product’s fitness for use in terms of offering features that consumers wantD

44
Q

Define measuring productivity

A

Measured by ratio of outputs to inputs, with labour acting as inputs due to easily available data

45
Q

How is labour productivity calculated

A

GDP/total # of workers OR # of hours

46
Q

Define domestic productivity

A

Productivity affecting standard of living, employee wages, investor profits, customer prices

47
Q

Is manufacturing or service productivity higher + why

A

Manufacturing is higher BUT service gaining from modern info tech eliminating inefficiencies

48
Q

What impacts productivity within any industry

A

Labour-union negotiations, investors, supplies

49
Q

Which industries have gained from new tech

A

Agriculture, computer, steel

50
Q

Define company productivity

A

Higher gives competitive edge, decreased cost decreasing prices therefore increasing profit/wages

51
Q

What factors can impact company productivity

A

Investors buying stock, employee profit-sharing plans, managers’ plans for future

52
Q

What are the characteristics of total quality management (TQM)

A
  1. All activities and parts of business (ex customers, suppliers, employees)
  2. Leadership, customer focus are key
  3. Requires highest level of commitment (no defects are tolerable)
  4. Highlights continuous improvement
  5. All employees responsible for maintaining quality standard
53
Q

Define performance quality

A

Features of product, how well it performs

54
Q

Define quality reliability

A

Consistency, repeatability of performance

55
Q

Define quality ownership

A

Idea that quality belongs to each person who creates/destroys while performing job

56
Q

What are the quality assurance tools (10)

A
  1. Competitive product analysis
  2. Value-added analysis
  3. Statistical process control
  4. Quality/cost studies
  5. Quality-improvement teams
  6. Benchmarking
  7. Getting closer to customer
  8. ISO 9000:2000, ISO 14000
  9. Re-engineering
  10. Adding value through supply chains
57
Q

Define value-added analysis

A

Evaluation process determing value added by
1. all work activities
2. material flows
3. paperowrk
helps to reveal and eliminate wasteful activities

58
Q

Define statistical process control (SPC)

A

Methods enabling managers to analyze variations in production data
Detects when adjustments are needed to create products with high quality reliability

59
Q

Define process variation

A

Change in employees, materials, work methods, equipment affecting output quality

60
Q

Define a control chart

A

Statistical process control methods plotting results on diagram, results outside control limits easily spotted

61
Q

Define quality/cost studies

A

Assessing quality-related costs and identifying areas with cost-saving potential; costs associated with making, finding, repairing, preventing product defects; requires determining costs of internal/external failures

62
Q

What are the 3 characteristics of quality improvement teams

A

Groups of employees from various areas meeting to define, analyze, solve quality problems
Goal is to improve work methods and products
Brainstorming, discussing, quality/cost study

63
Q

Define benchmarking

A

Comparing quality of firm’s output with quality of output of industry leaders

64
Q

Internal vs external benchmarking

A

I: comparing to company’s past performance
E: comparing to competitors best practices

65
Q

Define ISO 9000:2000, ISO 14000

A

Programs certifying company meets rigorous standards of ISO (international organization for standardization)

66
Q

How are ISO ratings earned

A

Product testing
Employee training
Record-keeping
Correcting defects

67
Q

Define reengineering business process

A

Redesigning business processes to improve performance, quality, productivity

68
Q

Define adding value through supply chains

A

Group of companies, stream of activities involving getting product from raw material stage to end of consumer

69
Q

Define supply-chain management + adv (3)

A

Offers competitive edge because companies work together to improve overall flow of goods
Customers get better value
Smooth flow of accurate info reduces unwanted inventory
Materials move faster to consumers

Business Fundamentals (15 decks)

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