Operations Management Flashcards
1
Q
what is operations management
A
area of the business that’s responsible for the production of goods and/or services
2
Q
key components of operations managment
A
1) process design and management
2) managing quality
3) managing materials
4) managing capacity to meet customer demand
5) waste management
3
Q
operations can provide value by…
A
- producing quality products free of defects
- producing the product efficiently, leading to an effective price
- produce the product quickly
- offering unique features
- producing the product in an ethical manner
4
Q
business achieve objectives by…
A
- increased sales
- improved customer satisfaction
- increased profits
- improved productivity/efficiency
- increased market share
- meet shareholder expectations
5
Q
A
