operations management Flashcards
what is operations management
the managing of the process that transforms resources into goods/ services
define outputs
the finished products purchased by a customer.
what are the results of effective operations management
increase productivity
become more competitive
define transformation processes
what is done to inputs to transform them into the finished product
list the 9 inputs
raw materials
components
human resources
technology
capital (Hand made objects eg. axe, knife hammer)
plant (fixed capital eg. store room, fridges)
equipment (tools that assist with the transformation eg. vehicle)
information and knowledge
time
what are the elements
inputs
processes
outputs
5 kpi’s for evaluation of operations management
efficiency improvements that are measured by productivity growth
level of waste
customer satisfaction measured by number of repeat orders
customer satisfaction as ordered by number of returned products
level of profit
what is materials management
materials management refers to the systems that are implemented to ensure that the right materials are available in the right number for the right cost when required
what are the different options for an operations manager in terms of facility design
office buildings -open with shared workspace -closed with seperate offices retail -layout according to items sold eg coles -layout according to brands different layouts -product layout -process layout -fixed position layout
define inputs
the resources necessary to make the product
what are the 4 strategies of operations management
facilities design and layout
materials management
management of quality
technology
what are the 3 manufacturing and service layouts
fixed position layout-where the size and nature of the product mean that resources are brought to it
product layout- where the products move along an assembly line as stages of work are completed
process layout- where work stations are grouped together according to their function
what is master production schedule
a document that shows what the business plans to produce and how they plan to produce it within a given time frame
what is materials requirement planning
the process of outlining all of the materials needed to complete the production targets that have been set out in the mps
what is the supply chain
it is the system of planning and management of the whole supply process all the way from finding a source to buying it to storage, and the development of partnerships with suppliers and customers