operations management Flashcards
what is operation management?
operations management is all the activities in which managers engage to produce goods or services
what is a business objective?
a business objective is a goal/aim a business wishes/desires to achieve
what is the relationship between operation management and business objectives?
The core objective of all businesses is to maximise profit. This aim, therefore, requires businesses to efficiently use resources to produce goods or services at the lowest possible cost. Operations management is responsible for achieving this objective.
list the key elements
inputs ,process , outputs
what are inputs?
Inputs are resources used in the process of production
what are processes/transformation?
transformation/processes are the conversion of inputs (resources) into outputs (goods or services)
what are outputs?
outputs are the end result of a business’s efforts. the service or product that is delivered or provided to the consumer
what is a manufacturing business?
what are the three characteristics of a manufacturing business?
A manufacturing business is any business that uses raw materials, parts, and components to assemble finished goods.
what is a service business?
a service business is an enterprise composed of a professional or team of experts that deliver work in completing a task for the benefit of its customers.
list strategies that improve the effectiveness and efficiency of operations related to technological developments
the strategies that operation managers use to improve effectiveness and efficiency is :
- automated production lines
- computer-aided designs
- computer-aided manufacturing techniques
- website development
what is efficiency?
Efficiency →how well a business uses resources to achieve objectives
what is effectiveness?
aEffectiveness→ the degree to which a business has achieved its stated objectives
what is an automated production line?
automated production line comprises machinery and equipment arranged in a sequence with components added to a good as it proceeds through each step, with the process controlled by computers
what is a computer-aided design?
Computer-aided design a computerised design tool that allows a business to create product possibilities from a series of input parameters
what is computer-aided manufacturing techniques
Computer-aided manufacturing the use of software to direct and control manufacturing processes
what is website development?
Website development is the creation and improvement of a connected group of pages on the internet that will be maintained by a business to promote and sell its products
list the strategies that improve efficiency and effectiveness of operations related to materials
the four strategies related to materials include
- forecasting
- master production plan
- materials requirement planning
- just in time
what is forecasting?
forecasting is a materials planning tool that relies on data from the past and present and analysis of trends to attempt to determine future events
what is a master plan production?
a plan that details what is to be produced and when
what is materials requirement planning?
involves developing an itemised list of all materials involved in production to meet the specified orders
what is just in time?
just in time is a materials management strategy that ensures that the right amount of material inputs will arrive only as they are needed in the operations process
list the strategies that improve efficiency and effectiveness of operations related to quality
- quality control
- quality assurance
- and total quaity management
what is quality control?
quality control is the use of inspections at various points in the production process to check for problems and defects
what is quality assurance?
quality assurance is the use of a system so that a business achieves set standards in production
what is total quality management?
total quality management is an ongoing, business-wide commitment to excellence that is applied to every aspect of the business’s operation
list the strategies that improve efficiency and effectiveness of operations related waste minimisation in the production process
one strategy for waste minimisation is lean management
what is the process of lean management?
lean management is an approach that improves the efficiency and effectiveness of operations by eliminating waste and improving quality
what are some CSR considerations in an operation system?
Operations managers must be aware of corporate social responsibility when pursuing business objectives. Businesses that do so will benefit from improved performance.
An operations manager needs to consider the use of environmentally sustainable inputs and the amount of waste that is generated by the business’s operations.
what are some global considerations in operations management
some Businesses may need to contend with global issues in operations management including global sourcing of inputs, overseas manufacture, outsourcing and supply chain management.
what is supply chain management?
the range of suppliers from which the business purchases materials and resources
list some differences between manufacturing businesses and service business
the differences between manufacotoring business and service businesses include:
- manufacotroing businesses deals with goods that are tangible whereas service businesses deal with services tat are intangible
- manufacotring output can be stores whereas service output cannot be stored
- manufacturing has minimal customer contact where as services have a high degree if customer contact and are highly labourintensive
what is lean management?
an approach that improves the efficiency and effectiveness of operations by eliminating waste and improving quality
what is global sourcing?
global sourcing is the practice of seeking the most cost-efficient materials and other inputs, including from countries overseas
what is overseas manufacture
Overseas manufacture is the production of a good in a country that is different to the location of the business’s headquarters
what is the environmental sustainability of outputs?
environmental sustainability of outputs is when a business makes decisions that will allow it, and the rest of society, to continue to interact with the environment
what is global outsourcing?
Global outsourcing the contracting of a specific business operation to an external person or business in another country
define corporate social responsibility
corporate social responsibility is when the obligations of a business have over and above its legal responsibilities to the wellbeing of employees and customers, shareholders and the community as well as the environment
