EXAM IN OM Flashcards
Is the administration of business practices to create the highest level of efficiency possible within an organization
OPERATIONS MANAGEMENT
It keeps on changing as per market trends and demand
dynamic
it is employed by organizations for managing its activities as long as they continue their operations
continuous process
is the process that generally plans, controls and supervises manufacturing and production processes and service delivery
operations management
ensure that all finance of organization is utilized for the manufacturing of useful goods and services which may satisfy costumer wants
Finance
Operations manager must design the product according to the market trends and demands; innovative techniques are incorporated within the product and its quality is maintained
product design
formulation of plans and tactics helps the organization in optimizing their resources and developing a competitive edge over competitors
strategy
is the process that transforms inputs into goods and services that add value for the customer
operations management
is the management of activities concerned with the conversion of raw materials into finished products
transformational process
operations manager should work on quality management and should supervise all tasks.
maintaining quality
it ensures that all activities are going efficiently and there is no underutilization or misutilization of any resource
administration
what are the 8 characteristics of om?
- Flexibility
- The quality
- The watching
- Goals effectiveness
- Concentration
- Profitability
- Coordination
- The speed of execution
8 scopes of OM
- Increase productivity
- Raises revenue
- Maintenance of quality products and delivering them as per customer needs
- achievement of organization goals
- improve customer satisfaction
- reduce investment need
- enhance goodwill
- improve innovation
what are the benefits of om?
- product quality
- productivity
- customer satisfaction
- reduced operating cost
what are the importance of om?
- Helps in achieving objectives
- Improves employee productivity
- Enhance goodwill
- optimum utilization of resources
- motivate employees
what are the nature of om?
- dynamic
- transformational process
- continuous process
- administration
what are the functions of om?
- Finance
- Strategy
- Product design
- maintaining quality
operations manager s guide all people in performing their roles and provide them with a better atmosphere.
motivate employees
it frames proper strategies and accordingly continues all operations of the organization
optimum utilization of resources
its is defined as the ratio of input to output and it is the only way to verify the employees input. Ensures appropriate staffing of employees to resources so as to get maximum result.
“The only way to ensure productivity is through an effective operations management”
productivity
ensure customers with quality product.
customer satisfaction
Operations management sees the quality of products or goods which would suit customers on and after delivery.
“when a product is of quality, it gives you an edge compared to your competitors”
product quality
through productivity, quality products, and customer satisfaction, the cost incurred on product servicing is maximally reduced. this simultaneously leads to increased revenue.
reduced operating cost
it ensures that quality products are delivered to all customers that could provide them with better satisfaction and make them happy.
enhance goodwill
it ensures that all activities are going as per plan by continuously monitoring all operations of the organization
helps in achieving objectives
operation manager trains and educate their employees for better performance
improves employee productivity
what are the types of transformation process
- Material processing
- Information processing
- Customer Processing
Categories of transformational process
- Manufacture
- Service
- Supply
- Transport
2 classification of transformational operation
- Macro operations
- Micro Operations
what are the strategic functions of an organization?`
- Finance
- Operations
- Marketing
- Human resource
key elements of operations strategy
- production system
- facilities
- product or service
- technology
- resources
types of transformation process
- material processing
- information processing
- customer processing
can be considered as a value-added chain, where each link in the chain adds value to the final product
transformation or transformational process
Is a guiding principle used to plan, analyze, and execute a company’s operation.
operations strategy
is a high-level, long-term plan for how a company will utilize its resources and organize essential business operations like production, distribution, supply chain, inventory management. and quality control to achieve strategic goals.
operations strategy
