Operations Management Flashcards
What?
activity of management of resources devoted to the production and delivery of products and services.
OR
Transforms input into output that provide added value to customers
Inputs
Capital material equipment facilities labor supplier knowledge time
Output
Services
Goods
How to know its a success
- Customer/stakeholders- customer satisfaction
- organizational capacity - knowledge and innovation
- internal business process- efficiency
- financial/stewardship - financial performance
Finance
turnover, profit, margin, new markets, stock holding and inventory value
Internal efficiency
productivity/performance process measures costs quality recruitment, retention and absence health and safety environment
Organisational capacity
no new products
% successful launches
% performance reviews
% training completion
Customer satifaction
on time in full right first time consumer complaints consumer feedback recalls
Benchmarking success
- EFQM business excellence assessment
- British retail consortium ( BRC) - Global food standards
- SALSA - safe and local supply
- ISO
EFQM
can help leadership team define and deploy stratgey, processes, measures , reviews and improvement mechanisms.
UK retailers - complaince and innovation
ethical
sustainable
economic ( lean development or continous improvement frameworks)
by 2020 , all brands need to acquire
Acquired
1. highland spring
2.scotbeef
etc.
Goal of lean operations
to decrease lead time and to increase value added time %
LEad time
from order/design to delivery
Value adding time?
Design to production
Operations production rate?
Customer demand rate ( TAKT time)
