Intro + Competitiveness, Strategy, And Productivity Flashcards
What is operation management?
The design, management, improvement, and control of processes that create goods and or provide services. Organization use OM for efficiency and effectiveness.
What are some OM activities?
Forecasting
Capacity planning
Scheduling
Managing inventories
Assuring quality
Motivating employees
Where to locate facilities
What are the typical organization basic functions?
Operations
Finance
Marketing
What is competitiveness?
Ability and performance of an organization in the marketplace compared to other organizations that offer similar goods and services.
What are order qualifiers?
Minimum standard of acceptability for a purchase
Allows product or service to be considered.
What makes an order winner?
Create perception of being better than the competition
Allow a product to be purchased
What are product attributes? Can you give examples for each?
Cost (ikea)
Flexibility/variety (dell computer)
Quality (Toyota)
Time (McDonalds)
What is a strategy?
A long-term plan that determine the direction an organization will take to become or remain competitive
What is strategic planning?
The managerial process that determine a strategy for the organization and implements it through allocation of resources and action plans.
What are the steps of hierarchical planning?
Mission
Vision
Values
Goals and objectives
Strategies
Tactics and action plan
What is an operation strategy?
A set of coordinated policies, objectives and action plans directly affecting the operation function. Strategic, tactical, and operational level.
What is the strategic level of operation strategy?
It is all about the designing of the plan. High up in the hierarchy. All about what the company wants to achieve.
What is the tactical level of operation strategy?
All about the management.
Project management
Aggregate planning
Detailed planning
Material requirement planning
Scheduling
Quality management
Maintenance
Inventory mamangement
Pruchasing
What is the operational level of strategic planning?
More about daily costs.
Shipping and receiving
Load planning
Traffic
Material replenishment
Holiday scheduling
KPI tracking
Work safety and health
Inventory turnover
Supplier compliance
What is productivity?
Is a measure on how efficiently an organization converts inputs into outputs.
