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alevel business > operational decisions > Flashcards

operational decisions Flashcards

1
Q

operations management definition

A

the process that uses the resources of an organization to provide the right goods or services for the customer

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2
Q

order of the operational management hierarchy

A

cooperate objectives
operations aims
operations objectives
operations strategy’s
operations tactics

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3
Q

job production

A

making a one off or personalized good

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4
Q

flow production

A

manufacturing on a large scale, continuously, on a production line

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5
Q

batch production

A

making large numbers of the same items in groups

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6
Q

JIT

A

just in time- an inventory or stock control system where the suppliers should arrive precisely when they are needed in the production process.

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7
Q

advantage of JIT

A

saves space
lower storage and unit costs
increased efficiency minimized waste

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8
Q

disadvantages of JIT

A

reliant of suppliers
chance of stock outs
little spare capacity
more delivery costs

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9
Q

lean production

A

the use of techniques to minimize the waste and to save time and maximize value for customers.

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10
Q

resources mix

A

the extent to which we use labor and capital intensive

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11
Q

capacity utilization

A

how well you use your capacity
more capacity = more efficient

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12
Q

quality control

A

when an inspector checks quality

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13
Q

quality assurance

A

workers at each stage check their quality and make improvements .

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14
Q

cell production

A

is groups of people working in cells, focusing on tasks before moving the product on

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15
Q

quality circles

A

the British equivalent to kaizen, with teams of employees on all levels checking quality throughout.

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16
Q

time based management and what can be use dot plan this out?

A

the organisation of manufacturing or project sin the most efficient way

critical path analysis can be used

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17
Q

critical path analysis

A

a pictorial method of showing different activities and the best order to do them in

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18
Q

kaizen

A

is the notion of continuous improvement. it is based on staff suggestions and makes all employees responsible for suggesting ways that the business can improve the production process.

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19
Q

mass customization

A

the ability of a business to offer personalisation to products on a large scale
this usually involves ‘shells’ of products with parts of it able to be tailored to a customers requirements

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20
Q

what are the methods of production

A

flow, job, batch, lean

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21
Q

types of quality

A

quality control- what quality is checked at the end
quality assurance - workers at each stage check the quality
TQN- everyone checks the quality

22
Q

capital intensive

A

relies heavily on the use of machinery

23
Q

labour intensive

A

relies on the use of human labour

24
Q

4 types of flexibility

A

product
mix
delivery
volume

25
Q

value

A

any action or process that customers will pay for

26
Q

economies of scale

A

when production becomes efficient EoS becomes lower, as costs can be spread over lots of goods, this is a cost advantage as it saves the business money.

27
Q

methods of stock control

A

JIT AND JIC

28
Q

cost objectives

A

to reduce:

unit costs
fixed costs
variable costs

29
Q

quality objectives

A

customer satisfaction
customer complaints
product return levels
scrap rate
punctuality, ( deliveries on time /total delivery’s x100 )

30
Q

speed of response objectives

A

time from order placed to delivery
lead times
time of response

31
Q

flexibility objectives

A

product flexibility
volume flexibility
mix flexibility
delivery flexibility

32
Q

dependability objectives

A

quality
punctuality
durability

33
Q

added value

A

USP
quality features
goodwill
branding
equation for added value : selling price- cost of production

34
Q

labor productivity

A

a measure of the output per worker in a given time period

35
Q

labor productivity equation

A

output per period / number of employees per period

36
Q

benefits of high labor productivity

A

increase in output
reduce costs without effecting output

37
Q

total and unit cost equations

A

total costs = fixed + variable

unit costs = total costs / units of output

38
Q

capacity

A

the maximum total level a business can produce in a period of time

39
Q

capacity utilization

A

The percentage of total capacity that is actually being achieved in a given period

40
Q

capacity utilization equation

A

actual output per annum/ maximum possible output per annum x 100

41
Q

how is capacity utilization measured

A

through equipment and though unit costs
unit costs will fall due to high utilization and will lead the benefit of EoS

42
Q

efficiency

A

=output is maximized from a given level of inputs

it takes into account all four factors of inputs- labor, capital , recourses, and enterprise these inputs are known as factors of production

43
Q

benefits of high labor productivity and efficiency

(links to lean production)

A

maximized production to satisfy customers
lower unit costs enable a competitive advantage as they can lower their prices while keeping the same profit margin
can increase appeal for stakeholders
increase shareholder profits
higher wages for workers
use saved money for improving quality

44
Q

4 types of customization according to joseph pine

A

collaborative
adaptive
transparent
cosmetic

45
Q

supply and demand

A

one type is BTO/MTO (built/made to order) is when a business only makes a products once an order for it has been received.
this reduces inventory being held and can allow for higher sales prices

46
Q

outsourcing

A

the transfer of jobs which were previously in - house are not done by a third party outside the business.

47
Q

who identified the 4 types of mass customization

A

joseph pine

48
Q

factors required for mass customization

A

customers value variety and willing to pay
business needs a quick market response

49
Q

benefits of mass customization

A

cost reduction
higher revenue - willing to pay a premium
customer loyalty
competitive advantage
protection from market changes
higher profit
improved work motivation

50
Q

disadvantages of mass customization

A

greater expenses for equipment and jit
suppliers must be flexible

alevel business (11 decks)

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