Unit 2 Operations Flashcards
Operations management
Multidisciplinary science, that organizations use to acquire people, capital, material, or energy (inputs) and transform them into product/services that provided value to the end customer
Throughout the chain of events, the operational strategy must be applied to guide processes to create value for the customer
True
Capital
Facilities and equipment
People
Labor and management
Operations management
Decision making discipline that considers the many factors that affect operations
Organization exists, meet the demands of society
True
Performance measures
Primary criterion for judging operations
To understand operations, and how it can contribute to the success of an organization, it is important to understand…
Value added nature of operations
Impact that tech can have with performance
Teamwork to achieve objectives
Links between operations in the rest of the organization, can be both into the planning process
True
Decentralization
Cross functional teams
Business process
Strategy, formulation
Product development
Order fulfillment
Span many functional areas
Business functions
Operations
Marketing
Finance
Infosystems
Inappropriate for today’s fast pace, and fast changing environment
Slow decision making since it goes to each department
Organization remain in function, because
Legacy issues
Infrastructure
Tradition
Reflects their purpose
The North American Free Trade Agreement, NAFTA and general agreement on tariffs and trade (GATT)
Design to reduce and eliminate tariffs, and other trade restrictions
Tariff
Tax imposed by one country, imported from another to influence it Raise revenues or protect competitive advantages
Sustainability
Reflects the efforts organizations are expected to make to balance or interconnected obligations to economic viability
Key ethical issues and operations and supply chain management
Risk management strategy
Sustainable operations
Improving efficiency to reduce costs
Utilize available capacity
Achieve business objectives
Human resource viability
Effective management
Viral
Value
Inimitable (not easily imitated)
Rare
Aptitude
Lifespan
Framework for a competitive advantage
5S methodology
Sort
Straighten
Shine
Standardize
Sustain 
