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Operations Management > Test 1 > Flashcards

Test 1 Flashcards

1
Q

3 Basic Functions of Organizations

A
  • Marketing
  • Operations
  • Finance
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2
Q

Operations

A

The part of the business organization that is responsible for producing goods/services

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3
Q

Operations Management

A

The management of systems/processes that create goods/services

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4
Q

Value Added Formula

A

Value Added = (value/price of output) - cost of input

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5
Q

Feedback

A

Measurements taken at various points in the transformation process

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6
Q

Control

A

The comparison of feedback against previously established standards to determine if corrective action needs to taken

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7
Q

Sources of Variation

A
  • variety of goods/services being offered
  • structural variation in demand
  • random variation
  • assignable variation
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8
Q

Variety of goods/services being offered

A

leads to greater variation in production requirements

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9
Q

Structural variation in demand

A

predictable (holiday seasons)

important for capacity planning

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10
Q

random variation

A

natural, unpredictable variation

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11
Q

assignable variation

A

variation that has identifiable sources (incorrect work methods, equipment)

can be reduced or eliminated by corrective action

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12
Q

Products Package

A

combination of goods and services

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13
Q

Differences between Goods and Services

A

It’s long. Go look it up. First Powerpoint. Slide 11

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14
Q

Scope of OM

A 
-forecasting
capacity planning
-facilities and layout
-scheduling
-inventory
-quality assurance
-motivating employees
-deciding where to locate facilities
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15
Q

Role of OM Manager

A

Guide the system by decision making

  • design decisions
  • operation decisions
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16
Q

System Design

A

strategic decisions; long term commitment of resources; determine the parameters of system operation

  • capacity
  • facility location/layout
  • product planning
  • acquisition and placement of product
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17
Q

System Operation

A

tactical decisions

  • personal management
  • inventory management
  • scheduling
  • project management
  • quality assurance
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18
Q

Modeling

A

an abstraction of reality

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19
Q

Types of Models

A
  1. Physical
    - look like real life counterparts
  2. Schematic
    - graphs, charts, blueprints
  3. Mathematical
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20
Q

Benefits of Models

A
  • easier to use
  • less expensive
  • provide standardized format for analyzing
  • requires users to organize (and quantify) data
  • increase understanding of problem
  • what if questions
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21
Q

Limitations of Models

A
  • important variables may be missed
  • quantitative information is more important that qualitative
  • models may be applied incorrectly and results misinterpreted
  • non-qualified users may use it wrong
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22
Q

Historical Evolution of OM

A
  1. Industrial Revolution
  2. Scientific Management
  3. Decision Models and Management Science
  4. Influence of Japanese Manufacturers
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23
Q

Industrial Revolution

A

18th Century

substituting machine power for human power

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24
Q

Scientific Management

A

Early 20th Century

based on economic incentives & observation, measurement, analysis, and improvement of work methods

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25
Q

Decision Models

A

Mid 20th Century

operations research in warfare

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26
Q

Japanese Manufacturers

A

late 20th

credited for quality revolution
lean operations/ just in time productions

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27
Q

Key Issues for OM Managers Today

A
  • Economic Conditions
  • Innovating
  • Quality
  • Management Technology
  • Internet business
  • Supply chain
  • Risk Management
  • Revenue Management
  • Competing in global marketplace
  • Environment
  • Ethics
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28
Q

Essence of Organization

A

goods and services it provides

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29
Q

Research and Development

A

organized efforts to increase scientific knowledge or product innovation

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30
Q

Basic Research

A

learning more about a subject without being close to commercial application

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31
Q

Applied Research

A

achieving commercial applications

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32
Q

Development

A

converts applied research results to useful commercial applications

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33
Q

Key Questions for an Organization

A
  1. Is there demand?
  2. Can we do it?
    • manufacurability and serviceability
  3. Level of Quality?
  4. Does it make sense economically?
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34
Q

Manufacturability

A

the capability of an organization to produce an item at an acceptable profit

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35
Q

Serviceability

A

the capability of an organization to provide a service at an acceptable profit

36
Q

Phases in Product Development

A
  1. Feasibility analysis
  2. Product specifications
  3. Process Specifications
  4. Prototype development
  5. Design Review
  6. Market Test
  7. Product Introduction
  8. Followup Evaluation
37
Q

Reliability

A

The ability of a product, part, or system to perform its intended function under a prescribed set of conditions

-enhanced by utilizing redundancy (backups)

38
Q

Rule 1 (Reliability)

A

All work

39
Q

Rule 2 (Reliability)

A

1 works OR 1 fails AND 2 works

40
Q

Improving Reliability

A
  • component design
  • redundancy/ backups
  • production techniques
  • testing
  • preventative maintenance procedures
  • user education
41
Q

Product Life Cycle

A

Introduction –> Growth –> Maturity –> Decline

42
Q

Introduction (PLC)

A

high cost, low demand

possible quality issues

43
Q

Growth (PLC)

A

lower cost
higher demand
better quality

44
Q

Maturity

A

low cost
high productivity
standardization
high reliability

45
Q

Decline

A

Should it be discontinued?

46
Q

Standardization

A

absence of variety

47
Q

Advantages of Standardization

A
  • Fewer parts needs
  • Reduced training costs and time
  • More routine procedures
  • Orders fillable from inventory
  • Opportunities for long production runs and automation
48
Q

Disadvantages of Standardization

A
  • High cost of design changes increases resistance to improvements
  • Less consumer appeal
49
Q

Mass Customization

A

A strategy of producing basically standardized goods or services, but incorporating a degree of customization in the final product or service

50
Q

Delayed Differentiation

A

A type of mass customization

The process of producing, but not quite completing, a product or service until customer preferences are known
-ex cars

51
Q

Modular Design

A

A form of standardization in which component parts are grouped into modules that are easily replaced or interchanged

52
Q

Designing Products for Production

A
  • concurrent engineering
  • computer assisted design
  • production requirements
  • component commonality
53
Q

Concurrent Engineering

A

Bringing design and manufacturing engineers together early in the design phase to combine consumer wants and manufacturing capabilities

54
Q

Computer Aided Design (CAD)

A
  • Increases designers’ productivity.
  • Directly provides information to manufacturing (dimensions, material - BOM).
  • Perform analysis: engineering ,cost.
  • Shortens time-to-market
55
Q

Production Requirements

A

Designers paying attention to production capabilities

56
Q

Design for Manufacturing (DFM)

A

The designing of products that are compatible with an organization’s abilities

57
Q

Design for Assembly (DFA)

A

Design that focuses on reducing the number of parts in a product and on assembly methods and sequence.

58
Q

Component Commonality

A

When products have a high degree of similarity in features and components so a part can be used in multiple products

59
Q

Quality Function Deployment

A

An approach that integrates the “voice of the customer” into both product and service development

60
Q

Service Design

A

Begins with a choice of service strategy, which determines the nature and focus of the service, and the target market
-Key Issues: variation and customer contact

61
Q

Competitiveness

A

How effectively an organization meets the wants and needs of customers relative to others.

62
Q

What do organizations compete over?

A

Price
Quality
Response-time
Variety

63
Q

Mission

A

The reason for an organization’s existence. Serves as the basis for organizational goals.

64
Q

Goals

A

Provide detail and scope of the mission.

Serves as the basis for organizational strategies.

65
Q

Strategy

A

A plan for achieving organizational goals.

66
Q

Types of strategies organizations have

A

Organizational strategies - relate to entire organization

Functional level strategies - relates to functional areas and support the org. strategy

67
Q

Example of strategies

A 
Low Price
Specialization
Variety
Newness
Service
Sustainability
Quality
Responsiveness
68
Q

What aspects are taken into account when formulating strategies?

A
  1. Core competencies
  2. Environmental Scanning: SWOT
  3. Order Qualifiers & Winners
69
Q

Core Competencies

A

Special attributes or abilities that give an org. a competitive edge.

Need to be aligned with strategies.

70
Q

What is environmental scanning necessary to identify.?

A

Internal Factors

External Factors

71
Q

Key Internal Factors

A 
HR
Facilities and Equip
Fin Resources
Cust.
Products and services
Tech
Suppliers
Dist. ch., company images
72
Q

Key External Factors

A 
Econ Conditions
Political conditions
Legal environ.
Tech
Competition
Markets
73
Q

Order Qualifiers

A

Characteristics that customers perceives as min standards of acceptability for a good or service to be considered for purchase.

74
Q

Order Winners

A

Characteristics of an org’s goods or services that cause it to be better perceived than competition.

75
Q

Operation Strategy

A

The approach that is used to guide the operations function. Would take into account of the realities of the operation’s strenght and weaknesses

76
Q

Tactics

A

the methods and actions taken to accomplish strategies

77
Q

Operations

A

The actual doing part of the process

78
Q

Productivity

A

A measure of the effective use of resources.

79
Q

What is productivity useful for?

A

Tracking an operating unit’s performance over time.

80
Q

Why does productivity matter?

A

Higher prod. than competition leads to competitive advantge.

Higher Productiv linked to higher standards of living.

81
Q

Productivity Equation

A

Productivity = outputs/inputs

82
Q

Partial Measures

A

= Output/(single input)

=Output/(Labor or machine or capital or energy)

83
Q

Multi-factor Measures

A

=output/multiple inputs

=Output/(Labor+Machine or Labor+Capital+Energy)

84
Q

Total Measure

A

=Output/total inputs

= Goods or services produced/all inputs used to produce them

85
Q

Why is the service sector difficult to measure and manage?

A

Involves intellectual activities

Has high variability

86
Q

Factors Affecting Productivity

A 
Methods
Quality
Management
Capital
Tech
87
Q

How to improve productivity

A
  1. Develop productivity measures for all operations
  2. Find critical bottlenecks
  3. Create methods to improve productivity
  4. Establish reasonable goals
  5. Make it clear management supports and encourages productivity improvement
  6. Measure and publicize improvements
  7. Efficiency doesn’t equal productivity.

Operations Management (3 decks)

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