MANAGEMENT PROCESS: operations Flashcards
What are the processed in management
marketing, operations, human resources, finance
what is operations
involves transformation process of inputs to outputs - production
operations influences
quality, cost, availabity of G&S
impacts whether achieve goals eg maximise profits
inputs: tranformed and transforming resources
transformed: things changed
e.g materials, info, customers
transforming: things that do the changing
e.g human resources, facilities
what is tranformation process
Involves conversion of resources into outputs, whether goods or services, steps and processes used to transform inputs into outputs
what is inventory management
how stock is managed within business
types of inventory managemen
First in First Out (FiFo) : first stock is first stock sold
Last in First Out (LiFo): Most recent stock purchased is sold first
Just-in-time (JiT): Stock is ordered as needed
adv + dis of FiFo
adv + dis of LiFo
adv + dis of JiT
what are outputs
final result of business efforts
must always be responsive to consumer demands
what is quality management
Systems in place to ensure product quality meets customer quality expectations.
what are the types of quality management
quality control - inspections
quality assurance - standards
Total quality management - continuous improvement
what is quality control
REACTIVE approach
inspections at various points of production cycle
checks for problems, issues, defects against expected benchmarks and standards
What is quality assurance
PROACTIVE approach
prevent issues arising
- training , processes = high standard
