OPERATIONS MANAGEMENT EXAM 1 Flashcards
what is operations management?
steps to turn inputs into outputs efficiently and effectively
what are inputs?
raw materials, time, energy, capital, machinery
what are outputs?
goods and services
3 areas of any organization?
financial accounting, productions/operations, marketing
why do we need to study OM 1?
3 fundamental areas
why do we need to study OM 2?
how goods/services are produced
why do we need to study OM 3?
what operation managers do
why do we need to study OM 4?
costly part of an organization
supply chain?
supplier, manufacturer, distributer, retailer, consumer
strategic decision 1?
design of goods and services
strategic decision 2?
managing quality
strategic decision 3?
process and capacity strategy
strategic decision 4?
location strategy
strategic decision 5?
layout strategy
strategic decision 6?
HR and job design
strategic decision 7?
supply chain management
strategic decision 8?
inventory management
strategic decision 9?
scheduling
strategic decision 10?
maintenance
location strategy?
where to locate the facility
layout strategy?
integrate capacity, personnel, technology
goods are?
tangible, identical, remote/factory production, have measurable attributes, can resell
services are?
intangible, unique, consumed/produced simultaneously, knowledge based, hard to measure attributes, can’t resell
projects are?
series of related tasks to achieve an objective, unique
