Chapter 7,8,9 Flashcards
Glossary Words
Operations Management
Operations Management consists of all the activities in which managers engage to produce goods or services.
Tangibles
Tangibles are goods, which can be touched.
Intangibles
Intangibles include services, which cant be touched.
Inputs
Inputs are resources used in the process of production.
Processes
Processes are the conversation of inputs (resources) into outputs (goods or services).
Outputs
Outputs refer to the end result of an organisation’s efforts- the service or product that is delivered or provided to the consumer.
Procurement
Procurement refers to the process of researching and selecting suppliers, establishing payment terms, negotiating contracts, and the actual purchasing of resources that are vital to the operations of the business.
Automated production line
An automated production line is comprised of machinery and equipment arranged in a sequence with components added to the good as it proceeds through each step, with the process controlled by computers.
Robotics
Robotics are highly specialised forms of technology capable of complex tasks.
Computer-aided design
Computer-aided design is a computerised design tool that allows a business to create product possibilities from a series of input parameters.
Computer-aided manufacturing
Computer-aided manufacturing is software that designs and controls manufacturing processes.
Computer Integrated Manufacturing
Computer integrated manufacturing is a method of manufacturing in which the entire production process is controlled by a computer.
Materials management
Materials management is the strategy that manages the use, storage and delivery of materials to ensure the right amount of inputs is available when required in the operations system.
Inventory
Inventory is the goods and materials held as stock by a business.
Materials handling
Materials handling is the physical handling of goods in warehouses and at distribution points.
Forecasting
Forecasting is a materials planning tool that relies on data from the past and present and analysis of trends to attempt to determine future events.
Production plan
A production plan is an outline of the activities undertaken to combine resources (inputs) to create goods or services (outputs).
Master production schedule
A master production schedule is a plan that details what is to be produced and when.
Materials requirement planning
Materials requirement planning involves developing an itemised list of all materials involved in production to meet the specified orders.
Inventory control
Inventory control ensures that costs are minimised and that the operations system has access to the right amounts of inputs when required.
Just-in-time (JIT)
Just in time is a materials management strategy that ensures that the exact amount of material inputs will arrive only as they are needed in the operations process.
Quality
Quality refers to the degree of excellence of goods or services and their fitness for a stated purpose.
Quality control (QC)
Quality control involves the use of inspections at various points in the production process to check for problems and defects.
Quality control (QA)
Quality assurance involves the use of a system so that an organisation achieves set standards in production.
Total Quality Management (TQM)
Total quality management is an ongoing, organisation-wide commitment to excellence that is applied to every aspect of the organisation’s operation.
Quality circles
Quality circles are groups of workers who meet to solve problems relating to quality.
Continuous improvement
Continuous improvement involves an ongoing commitment to achieving perfection.
Waste minimisation
Waste minimisation is a process involving the reduction of the amount of unwanted or unusable resources produced by a business in an attempt to improve the efficiency and effectiveness of operations.
Lean management
Lean management is an approach that improves the efficiency and effectiveness of operations by eliminating waste and improving quality.
Six Sigma
Six Sigma is a quality management approach that seeks to identify and remove the causes of problems in the operations process, achieving virtually defect-free production.
Global sourcing
Global sourcing is the practice of seeking the most cost-efficient materials and other inputs, including from countries overseas.
Overseas Manufacture
Overseas manufacture refers to the production of a good in a country that is different from the location of the business’s headquarters.
Outsourcing
Outsourcing is the contracting of a specific business operation to an external person or business.
Supply chain
A supply chain is the range of suppliers from which the business purchases materials and resources.
