L2 - operation performance

Question 1

What are the Four stages of operations?

Answer 1

direct - operation strategy,social and economic environment, design, develop, and deliver

Question 2

What are the performance levels?

Answer 2

Social level, Strategic level, Operational level

Question 3

What is the social level?

Answer 3

Triple bottom line: people (social account): how operations impact the quality of life of people, profit (economic account), planet (environmental account): how operations impact the environment

Question 4

What’s at the strategic level?

Answer 4

Operation strategic impact
Learning
Capital
Revenue
Cost
Risk

Question 5

What’s at the Operational level?

Answer 5

Operation performance objectives
Quality
Speed
Cost
Dependability
Flexibility

Question 6

How many types of flexibility are there, and what are they?

Answer 6

Product and service flexibility: the ability to introduce new and modified products
Mix flexibility: the ability to produce wide variety of products and services
Volume flexibility: the ability to change the volume of production
Deliver flexibility

Question 7

What are polar diagrams?

Answer 7

They show the relationship between the operation’s performance objectives and their importance

Question 8

What are trade-offs?

Answer 8

In order to increase the performance of one performance objective, we have to sacrifice the performance of another.

Question 9

What is mass customization?

Answer 9

the ability to produce products or services in high volume and still make them meet the demands of the customers

Question 10

What is agility?

Answer 10

the ability to adapt at a low cost to market-changing requirements.