Operations management Flashcards
What is operations management about?
How organizations create and deliver services and products
What happens within an operations management?
It’s the activity of managing the resources that create and deliver services and products
What is the name of the process that all operations services and products go through? What does it do?
It’s called the input-transformation-output process.
Operations are processes that take in a set of input resources that are used to transform something, or are transformed themselves, into outputs of services and products
Give an example of transformed resources and transforming resources
Transformed: Materialas, information, customers
Transforming: Facilities, staff
What are the three levels of performance an operation can be judged due to? What do they implie?
- Societal level - mo operation exist, or performs in isolation
- Strategic level - operations can have a strategic impact on the organization’s strategic economic position
- Operational level - running a day-to-day operation requires a defined set of objectives (performance objectives)
What are the performance objectives? And what do they implie?
Quality, speed, dependability, flexibility and cost
Performance objectives are specific, measurable goals that organizations set to improve their performance in a particular area
What are the four V’s, and what do they mean?
Volume: the quantity of products and services
Variety: the range of products or services that the company offers
Variation: the degree of change in demand or requirements for products or services
Visability: the degree of customer interactino with the processes involved in producing or delivering products or services
By understaing the four V’s, companies can design and implement effective processes to meet the demands of their customers while maximizing efficiency and quality
