Operations Plan Flashcards
Frederick Taylor
Scientific Management Theory
Henry Ford
Assembly Line
Set of activities that creates goods and services by transforming inputs into outputs
Operations Management
Creation of goods and services
Production
Processes used to create and deliver a product or service
Operations
Finance available to fund the production or acquiring of the goods and services
Money
An enterprise’s most valuable resource; goods and services cannot be produced without it
Manpower
This facilitates the processing of raw materials into finished products
Machine
Obtaining, storage, and quality of this are required
for production or manufacturing of goods or rendering of services
Materials
The team in charge of operations need to be well-equipped with the knowledge and skills to facilitate all the necessary processes and methods
Method
Any activity or group of activities that takes one or more inputs, transforms and adds value to them, and provides outputs for customers or clients
Transformation process
The physical creation of products (for example, cars)
Manufacture
The movement of materials or customers (for example, a taxi service)
Transport
Change in ownership of goods (for example, in retailing)
Supply
The treatment of customers or the storage of materials (for example, hospital wards, warehouses)
Service
The overall transformation process
Macro-operation
