Module 1 Flashcards
Strategic Thinking Decisions - Longer Term
1) Design of Goods and Services
2) Managing Quality
3) Process and Capacity Strategy
4) Location Strategy
5) Layout Strategy
Tactical Thinking Decisions - Day to Day
6) Human Resources, Job Design, and Work Measurement
7) Supply Chain Management
8) Inventory Management
9) Scheduling
10) Maintenance
What is a global network of organizations and activities that supply a firm with goods and services
Supply Chain
What defines much of what is required of operations in each of the other OM decisions?
Design of goods and services
Product design determines lower limits of cost and upper limits of quality, along with implications for sustainability and human resources.
What aspect of operations determines the customer’s quality expectations?
Managing quality and statistical process control
Establishes policies and procedures to identify and achieve quality.
What does process and capacity strategies determine?
How a good or service is produced
Commits management to technology, quality, human resources, and capital investments.
What factors are considered in location strategies?
Nearness to customers, suppliers, and talent
Also considers costs, infrastructure, logistics, and government.
What do layout strategies integrate?
Capacity needs, personnel levels, technology, and inventory requirements
Aims to determine the efficient flow of materials, people, and information.
What is determined by human resources, job design, and work measurement?
How to recruit, motivate, and retain personnel
Personnel are integral and expensive parts of the total system design.
What does supply chain management decide?
How to integrate the supply chain into the firm’s strategy
Includes decisions on what to purchase, from whom, and under what conditions.
What does inventory management consider?
Inventory ordering and holding decisions
Optimizes based on customer satisfaction, supplier capability, and production schedules.
What does scheduling determine and implement?
Intermediate- and short-term schedules
Aims to effectively and efficiently use both personnel and facilities while meeting customer demands.
What does maintenance require decisions on?
Facility capacity, production demands, and personnel
Necessary to maintain a reliable and stable process.
What is the formula for productivity
Units Produced / Input Used
What indicates the ratio of goods and services produced to one resource?
Single Factor Productivity
What indicates the ratio of goods and services produced to all inputs
Multifactor (Total) Productivity
What are 3 variables of productivity?
Labor, Capital, Management
corporate social responsibility
introduce policies that consider environmental, societal, and financial impacts in their decision making
Commons (respources)
Those that do not often have unidentified or ambiguous ownership (sunshine, air, airspace) or are held by the public.
What is the Tripple Bottom Line
Planet, People, Profit
What is Carbon Footprint
a measure of the total greenhouse gas (GHG) emissions caused directly and indirectly by an organization, a product, an event, or a person.
What does Lifecyle Assessment do?
evaluates the environmental impact of a product, from raw material and energy inputs all the way to the disposal of the product at its end of life.
What is circular economy?
keep and use resources for as long as possible and then recover and regenerate to the maximum possible value at the end of service life.
