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Operations Management > Introduction > Flashcards

Introduction Flashcards

1
Q

What is operations management?

A

The systematic design, direction and control of processes that transform inputs to products or services for customers

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2
Q

What is an operation?

A

A group of resources performing all or part one or more processes

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3
Q

What is a process?

A

Input –> Process –> Output

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4
Q

What is the goal operations management?

A

Ensure that this transformation process from raw material to goods is performed efficiently and that the output is of greater value than the input

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5
Q

What is a value chain?

A

Series of activities from supplier to customer that add value to a product or service

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6
Q

There are 4 stages of performance that can be identified along with increasing involvement of operations in a firm? What are they called?

A
  1. Internal neutrality: no strategic advantage
  2. External neutrality: Companies starts to compare themselves with similar
  3. Internally supportive: Operations aspire to be best on market
  4. Externally supportive: Operations provide the foundation for its competitive success (one step ahead)
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7
Q

What are the 5 basic key performances of operations?

A
  1. Quality: meeting customer needs
  2. Speed: time between customer request–> delivery
  3. Dependability: Delivering as promised
  4. Flexibility: Change what, how or when
  5. Cost: The lower the production cost, the lower the price to their customers
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8
Q

What is mass customization?

A

When companies have achieved a remarkable balance between high volume and customization.

–> Customized products at low costs

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9
Q

Name 2 examples of how production systems can be represented?

A
  1. Functional: Black box
  2. Structural: how elements in the system are related to one another
  3. Hierarchial: One system can be a sub systems within a larger system and also super systems
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10
Q

What is an open system

A

A system that depends on its environment. Exchanging materials, energy, info (supply chain)

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11
Q

What is a closed system?

A

A closed system is not depending on its environment and other actors. For example reuse of products within a company

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12
Q

What is process design?

A

Make sure that the performance of the process is appropriate for what it is trying to achieve

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13
Q

What is throughput rate?

A

The rate at which units emerge from a process

  • How fast units units are produced or goes through a machine
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14
Q

What is throughput time?

A

The time it takes for an input to become an output

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15
Q

Internal lead time

A

How long it takes to pass on a station/machine

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16
Q

What is work in process (WIP)?

A

WIP= Number of units in process

17
Q

What is a bottleneck?

A

A special type of constraint that decreases the capacity of a process. work is restricted or slowed down, limiting overall performance or capacity. It acts as a choke point, causing delays and inefficiencies.

18
Q

What is TOC?

A

A management approach focusing on managing bottlenecks:

  • The bottlenecks should be scheduled to maximize throughput time/rate in the process
19
Q

Can you give an example of a bottleneck

A

A workstation in a production process that has the highest total time/unit processed

20
Q

What is line balancing? When is it applicable?

A

The process of optimizing the allocation of tasks or work to different workstations in order to balance workloads and avoid bottlenecks

  • Only applicable on assembly lines
21
Q

What is the difference between cycle time and and throughput time?

A

The cycle time focuses only on the active work time, while the throughput time is the total time it takes for a product to go from start to finish including idle time etc.

22
Q

What is Littles law?

A

Production balance method. Explains the relationship between number of WIP, cycle time and throughput rate

  • WIP depends on how fast items are processed (throughput rate) and how long they take to produce (cycle time)
23
Q

What is Overall Equipment Effectiveness?

A

A method for judging the effectiveness of operations equipment. Measures the degree that the equipment is doing what it is supposed to do.

Effectiveness= AvailabilityQualitySpeed

Operations Management (20 decks)

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