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Hannah Brotherton > MGMT 333 exam 1 > Flashcards

MGMT 333 exam 1 Flashcards

1
Q

What is operations

A

The part of a business organization that is responsible for producing goods or services

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2
Q

The part of a business organization that is responsible for producing goods or services

A

operations

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3
Q

How can we define operations management?

A

The management of systems or processes that create goods and/or provide services

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4
Q

The management of systems or processes that create goods and/or provide services

A

define operations management

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5
Q

function overlap in finance & operations

A

Budgeting, Economic analysis of investment proposals, Provision of funds

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6
Q

Function overlap in marketing & operations

A

Demand data, Product and service design, Competitor analysis, Lead time data

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7
Q

**You have to take a ___ ___ instead of focusing on a particular sub-system or functional silo

A

systems approach

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8
Q

**You have to take a systems approach instead of focusing on a ___ ___ or ___ ___

A

particular sub-system, functional silo

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9
Q

Supply chain

A

a sequence of activities and organizations involved in producing and delivering a good or service

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10
Q

a sequence of activities and organizations involved in producing and delivering a good or service

A

Supply chain

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11
Q

Why Study Operations Management?

A

Every aspect of business affects or is affected by operations

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12
Q

The Transformation Process

A

**Value-Added describes the difference between the cost of inputs and the value or price of outputs.

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13
Q

goods are…

A

Goods are physical items that include raw materials, parts, subassemblies, and final products

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14
Q

services are…

A

Services are activities that provide some combination of time, location, form or psychological value

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15
Q

Goods-service Continuum

A

Products are typically neither purely service- or purely goods-based

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16
Q

Manufacturing vs. Service

A
  1. Degree of customer contact
  2. Labor content of jobs
  3. Uniformity of input
  4. Uniformity of output
  5. Measurement of productivity
  6. Production and delivery
  7. Quality assurance
  8. Amount of inventory
  9. Evaluation of work
  10. Ability to patent design
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17
Q

***Know the key differences between goods and services characteristics

A

characteristic. goods. services
output tangible intangible
customer contact. low high
labor content low high
uniformity of input. high low
measurement of productivity
easy difficult
opportunity to correct problems before delivery
high low
inventory much little
wages narrow range wide range
patentable usually not usually

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18
Q

OM-Related Professional Societies

A

**APICS - The Association for Operations Management
**The Project Management Institute (PMI)

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19
Q

if supply>demand, then…

A

wasteful and costly

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20
Q

if supply<demand, then…

A

opportunity loss and customer dissatisfaction

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21
Q

if supply=demand, then…

A

ideal

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22
Q

Why is it so difficult to match supply and demand?

A

**it changes constantly, it’s called variability

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23
Q

** four sources of variation

A
  1. Variety of goods or services being offered
  2. Structural variation in demand
  3. Random variation
  4. Assignable variation
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24
Q

explain Variety of goods or services being offered

A

The greater the variety of goods and services offered, the greater the variation in production or service requirements.

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25
Q

explain Structural variation in demand

A

These are generally predictable. They are important for capacity planning (seasonality)

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26
Q

explain Random variation

A

Natural variation that is present in all processes. Generally, it cannot be influenced by managers.

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27
Q

explain Assignable variation

A

Variation that has identifiable sources. This type of variation can be reduced, or eliminated, by analysis and corrective action.

28
Q

How can variations be disruptive to operations and supply chain processes?

A

They may result in additional costs, delays and shortages, poor quality, and inefficient work systems

29
Q

The operations function includes many interrelated activities such as:

A

Forecasting, Capacity planning, Locating facilities, Facilities and layout, Scheduling, Managing inventories, Assuring quality, Motivating employees

30
Q

Role of the Operations Manager

A

The Operations function consists of all activities directly related to producing goods or providing services.

31
Q

A primary function of the operations manager is to guide the system by decision making.

A

System design decisions - strategic
System operation decisions – tactical/operational

32
Q

General Approach to Decision Making

A

Modeling is a key tool used by all decision makers

33
Q

Model -

A

an abstraction of reality; a simplification of something

34
Q

examples of models
Physical Model –
Schematic Model –
Mathematical Model –

A

Physical Model – miniature airplane
Schematic Model – drawing of a city
Mathematical Model – Inventory optimization

35
Q

5 Hierarchical Planning

A
  1. Mission
  2. Goals
  3. Organizational strategies
  4. Functional strategies
  5. Tactics
36
Q

Mission statement

A

**The fundamental purpose for the existence of any organization should be described by its mission statement

37
Q

Goals

A

The mission statement serves as the basis for organizational goals

38
Q

Strategies

A

A plan for achieving organizational goals

39
Q

Tactics

A

The methods and actions taken to accomplish strategies; the “how to” part of the process

40
Q

Operations

A

The actual “doing” part of the process

41
Q

Core Competencies

A

The special attributes or abilities that give an organization a competitive edge

42
Q

Environmental scanning is necessary to identify…

A

Internal factors - strengths and weaknesses
External factors - Opportunities and threats

43
Q

**Strategic OM Decision Areas

A

Decision Area What the decisions affect
Product and service design
Costs, quality, liability, and environmental issues
Capacity
Cost, structure, flexibility
Process selection and layout
Costs, flexibility, skill level needed, capacity
Work design
Quality of work life, employee safety, productivity
Location
Costs, visibility
Quality
Ability to meet or exceed customer expectations
Inventory
Costs, shortages
Maintenance
Costs, equipment reliability, productivity
Scheduling
Flexibility, efficiency
Supply chains
Costs, quality, agility, shortages, vendor relations
Projects
Costs, new products, services, or operating systems

44
Q

Quality-based strategy

A

Strategy that focuses on quality in all phases of an organization

45
Q

Time-based strategies

A

Strategies that focus on the reduction of time needed to accomplish tasks

46
Q

Agile operations

A

A strategic approach for competitive advantage that emphasizes the use of flexibility to adapt and prosper in an environment of change

47
Q

formula for productivity

A

productivity = output/input

48
Q

formula for partial measures

A

output/single input
or
output/labor
or
output/capital

49
Q

formula for multifactor measures

A

output/multiple inputs
or
output/(labor+macine)
or
output/ (labor+capital+energy)

50
Q

formula for total measure

A

goods or services produced/all inputs used to produce them

51
Q

formula for productivity growth

A

[(current productivity-previous productivity)/previous productivity] x 100%

52
Q

**TWO Key aspects of process strategy:

A

Capital intensity and Process flexibility

53
Q

Capital intensity

A

The mix of equipment and labor that will be used by the organization

54
Q

Process flexibility

A

The degree to which the system can be adjusted to changes in processing requirements due to such factors as:
Product and service design changes, Volume changes, Changes in technology

55
Q

It is demand driven. Two key questions in process selection:

A
  1. How much variety will the process need to be able to handle?
  2. How much volume will the process need to be able to handle?
56
Q

5 types of processes

A
  1. job shop
  2. batch
  3. repetitive
  4. continuous
  5. project
57
Q

describe Job shop

A

-Small scale and flexible; used with low volume/high-variety
-More difficult to estimate costs - going into it unknowingly doing it

58
Q

describe batch

A

-Moderate volume/moderate variety
-Processing still intermittent
-Less variety in jobs being processed

59
Q

describe repetitive

A

-Higher volumes of more standardized goods/services
-Efficient and only slight flexibility of equipment is needed

60
Q

describe continuous

A

-High-volume/non-discrete output
-Almost no variety
-Skill of workers can be low or high (depends on what it is)

61
Q

describe project

A

-Non-routine/limited duration

62
Q

a job shop is ___ variety and ___ volume. and example of job shop would be ___ or ___

A

high, low, repair shop, emergency room

63
Q

a batch process is ___ variety and ___ volume. and example of batch process would be ___ or ___

A

moderate, moderate, commercial bakery, classroom lecture

64
Q

a repetitive process is ___ variety and ___ volume. and example of repetitive process would be ___ or ___

A

low, high, assembly line, automatic car wash

65
Q

a continuous flow process is ___ variety and ___ volume. and example of continuous flow process would be ___ or ___

A

very low, very high, petroleum refining, water treatment

Hannah Brotherton (18 decks)

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