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Business Management > OPERATIONS MANAGEMENT > Flashcards

OPERATIONS MANAGEMENT Flashcards

1
Q

ecological sustainability

A

the capacity of the natural environment to meet the needs of future generations without compromising the ability to meet future needs

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2
Q

social sustainability

A

societies ability to progress in a way that meets social wellbeing needs of current and future generations

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3
Q

economic sustainability

A

development that meets the economic needs of the current generation using existing resources

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4
Q

job production

A
  • single product at a time
  • highly skilled workforce
  • labour intensive
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5
Q

advantages of job production

A
  • organisation is simple
  • motivated workforce
  • produce original and unique products
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6
Q

disadvantages of job production

A
  • high labour costs
  • may become costly once demand rises
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7
Q

batch production

A
  • products produced in batches
  • appropriate for manufacturing business
  • used when demand is higher
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8
Q

advantages of batch production

A
  • each batch can be altered
  • skilled workers arent needed
  • machinery more standardised
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9
Q

disadvantages of batch production

A
  • machinery could be more complex
  • workforce is less motivated
  • money will be tied up in work in progress
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10
Q

flow production

A
  • production organised in continuous sequence
  • able to produce large quantities
  • product is simplified and standardised
  • capital intensive
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11
Q

advantages of flow production

A
  • unit costs are reduced
  • process is highly automated
  • no need to stock large quanitites
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12
Q

disadvantages of flow production

A
  • very high set up costs
  • no possibility of producing a wide product range
  • breakdowns are costly
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13
Q

lean production

A

streamlining operations and processes in an attempt to reduce waste and improve efficiency

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14
Q

principles of lean production

A
  • waste minimalisation
  • right first time approach
  • flexibility of workers
  • continuous improvement of processes, quality and efficiency
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15
Q

kaizen

A
  • idea that processes, people and an organisation can always be improved
  • small and frequent improvements rather than large change
  • helps avoid resistance to change
  • focus remains on improving quality and reducting waste
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16
Q

just in time

A
  • inventory management that involves stocks being delivered right when it is needed
  • reduces stock holding cost
  • involves having very minimal buffer stock
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17
Q

quality control

A
  • inspecting, testing and sampling work
  • products are made to specifications
  • aims to detect poor quality output
18
Q

quality assurance

A
  • management process of guaranteeing quality by ensuring that a right first time approach is taken
  • concerned with preventing faults rather than catching them
19
Q

quality circles

A
  • small groups of people who meet and share the responsibility of examining issues
  • improves morale of workers as they feel needed
20
Q

benchmarking

A
  • a business comparting its products, operations and processes to others within the same industry
  • market leaders are used as reference points
21
Q

total quality management

A
  • a process requiring the whole company to commit to achieving its quality standards

includes
- making workers accountable
- monitoring processes
- encouraging teamwork

22
Q

impacts of lean production and total quality management

A
  • reduces waste
  • cuts down on inefficiencies
  • boosts quality of products
  • company appears socially responsible
23
Q

quantitative reasons for location choice

A
  • availablity and cost of land
  • availability and cost of labour
  • proximity to market
  • proximity to raw materials
24
Q

qualitative reasons for location choice

A
  • managerial preferences
  • infrastructure
  • political stability
  • government restrictions
  • clustering
25
Q

outsourcing

A

transferring internal business affairs to an external organisation

26
Q

advantages of outsourcing

A
  • core activities can be focused on
  • cuts production costs
  • quality can occur
27
Q

disadvantages of outsourcing

A
  • must be mutual trust
  • quality control passed elsewhere
  • requires effective communication
  • can cause uncertainty
28
Q

offshoring

A

involves relocation of business functions and processes to overseas organisations

29
Q

advantages of offshoring

A
  • may be cheaper to operate in LEDC
30
Q

disadvantages of offshoring

A
  • has been associated with unethical practices
  • quality assurances become difficult
  • susceptible to economic and political stability
31
Q

just in time

A

highly responsive to customer orders
- uses very little stock

32
Q

just in case`

A

more stock is stored just in case there is an increase in demand

33
Q

capacity utilisation

A

the use a business makes from its available resources

34
Q

productivity rate

A

the efficiency of workers by measuring the average output per worker

35
Q

product innovation

A

creating or developing new and existing products

36
Q

process innovation

A

changing the ways in which production or delivery occurs

37
Q

positioning innovation

A

changing the context of a product by repositioning it

38
Q

crisis management

A

the steps and efforts in an organisation to limit damage from sudden crisis

39
Q

contingency planning

A

an organisations attempt to put in place procedures to deal with a crisis

40
Q

factors of crisis management

A

transparency - stakeholders need to be informed of what is happening

communication - managers need to communicate in an effective way

speed - managers need to act promptly

control - situation should be under control quickly and efficiently

41
Q
A

Business Management (5 decks)

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