Operations 7

Question 1

Define Operations Management

Answer 1

managing resources and functions to achieve the output of goods or services efficiently that creates a profit margin. It affects the cost of production and quality of finished products, therefore affecting shelf price, revenue, and profits, minimize waste, attention to detail (quality).

Question 2

How does OM relate to HR

Answer 2

HR aims to develop positive relations between management and employees and work closely with other areas of management responsibility to ensure a harmonious workplace. They also ensure employees have the aid of technology, are motivated and trained so that operations run efficiently

Question 3

Key aspects of OM

Answer 3

Inventory management, manufacturing, quality, engineering, and maintenance

Question 4

Factors affecting productivity

Answer 4

WET R TLC
Workplace safety (prevents injuries and the risk of workplace being shut down by work inspectors)
Equipment/facilities (quality, maintenance, reliability)
Technology (new, modern)
Research and development (innovative work practices, efficient technologies)
Tasks and processes (type of tasks, sequencing, and reordering)
Layout (redesigning and relocating equipment)
Communication processes

Question 5

Key elements

Answer 5

Inputs, transformations/processes, outputs

Question 6

Similarity between goods and services

Answer 6

Utilize technology, deal with customers and suppliers, aim to achieve high quality at minimal costs

Question 7

Difference between goods and services

Answer 7

Goods are tangible, produced (mass produced), can be stored as inventory, production, and consumption at different times
Services are intangible, tailored to customer’s needs (hard to mass produce), can’t store as inventory, production and consumption occurs at same time