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BU121 > Operations > Flashcards

Operations Flashcards

1
Q

What is operations management?

A

All steps required to take a USEFUL good or service from idea to reality

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2
Q

What is the conversion process?

A

Production inputs - start with customer needs
Conversion - with completed good that meets their needs
Outputs

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3
Q

What is included in production inputs?

A

Concept or idea and human, financial, material, and informational resources

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4
Q

What steps are included in conversion?

A

Planning, designing, executing, evaluating, improving, and redesigning

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5
Q

What are the factors in deciding if it makes sense to produce your own goods?

A

Cost, capacity, expertise, funding, impact on operations, availability of drop shipping, and strategic importance

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6
Q

What is included in Production Process Planning?

A

Design planning, facilities planning, and operational planning

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7
Q

What is design planning?

A

Considers strategic goals and resources of the business

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8
Q

What is facilities planning?

A

Identifies site where good or service can be produced

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9
Q

What is operational planning?

A

Decides amount of good or service to be produced

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10
Q

How are goods different than services?

A

A good is a physical product that can be seen and touched, a service is an intangible product we experience or use

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11
Q

How are goods and services similar?

A

They are both products - a product is anything a company offers to satisfy customer needs and wants

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12
Q

How do you measure quality for a good vs a service?

A

Good - # of defective products or customer returns

Services - # and degree of customer satisfaction

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13
Q

What major decisions are involved in design planning?

A

Designing product lines
Estimating production capacity
Evaluate production technology options

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14
Q

What are the benefits of long product lines vs short product lines?

A

Long product lines - offer customers more choice, easier to sell products that meet customer needs
Short product lines - easier to manage from production perspective

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15
Q

What are important considerations in designing product lines?

A

Group of similar products, requires balancing customer needs with production requirements, integration

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16
Q

What is production capacity?

A

Amount of product that an organization can produce in a given period of time

17
Q

How is capacity determined?

A

Requires operations manager and marketing managers to analyze sales projections

18
Q

What is zero slack?

A

A critical task that if pushed back, will slow down the entire production process

19
Q

What are some trade-off considerations for using production technology?

A

Automation requires high initial costs and low operating costs
Human labour results in low initial costs and high operating costs
Affects break-even and company purpose

20
Q

What considerations are used in facility planning for deciding a location?

A

Proximity to major customers, availability and cost of labour, cost of construction and operations, and access to key resources

21
Q

What considerations are made when producing new products in existing facilities?

A

Capacity to meet demand for both new and current products

Cost of refurbishing an existing factory (is it less than the cost of building a new one?)

22
Q

What is the process layout in a facility, how do the products move, and when is it best used?

A

Separate stations for distinct tasks, any sequence, low-volume, customized products

23
Q

What is the product layout in production, how do the products move, and when is it best used?

A

Single assembly line, same sequence, and high-volume, standardized products

24
Q

What is the fixed-position layout in facility, how do the products move, and what is the best application?

A

Products are in a fixed position, remain stationary, best for extremely large hard to move products

25
Q

What is supply chain management?

A

The coordination of members of the supply channel from raw materials, manufacturers, distributors, and retailers

26
Q

What are the benefits of a coordinated supply chain?

A

Reduce lead times, minimize inventory costs, increase customer satisfaction

27
Q

What are the drawbacks in a coordinated supply chain?

A

Lower financial costs, reputational risk, vulnerability of extreme interdependence

28
Q

What are the new trends in supply chain management?

A

Purpose driven ethical enterprise supply network (PDE2SN)

Traceability

29
Q

What is Purpose driven ethical enterprise supply network (PDE2SN)?

A

Circular supply network, moving away from linear approach
Keep materials and products in use, design to last, treat sustainability as integral
Going above and beyond pursuit of profits

30
Q

What is traceability in supply chain management?

A

Allow companies to follow products as they move through chain, supports sustainability, considers traditional objectives of reliability and efficiency with new objectives of resiliency and sustainability

31
Q

What is scheduling in ops planning?

A

Specifying and controlling time required for each step, ensuring right materials are in the right place at the right time

32
Q

What is quality control in ops planning?

A

Creating quality standards, producing goods that meet them and measuring against those standards
Proactive and continuous approach with heavy employee participation

33
Q

What are the two general categories of products?

A

Business and consumer

34
Q

What is included in business products?

A

Raw materials, major equipment, accessory equipment, component part, process material, supply, and business service

35
Q

What items can be grouped as business and consumer?

A

Lightbulbs, stoves, pencils, paper, etc

36
Q

What are the two types of innovation, give examples

A 
Revolutionary = apple inventory iPad
Simple = restaurants adding healthy options
37
Q

What are the benefits of innovation?

A

Improving function or quality, lower cost of production, offering customers new experiences

38
Q

What is the PLC?

A

BU121 (7 decks)

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