Week #1 - Intro Flashcards
What is Manufacturing Management?
the process of managing resources (inputs) to deliver the product or service (outputs)
Manufacturing mgmt is also know as..
Operations Management
What is an input
resources a company might put in
What is an output
what is produced
Materials, people, capital, data, energy is an example of…(input or output)?
input
services, products, info energy is an example of…(input or output)?
output
When depositing a cheque in the bank…what would be the inputs and outputs? (List of options: people, banking procedure, stationary, service of completing banking transaction)
input: people, banking procedure, stationary
output: service of completing banking transaction
Why does manufacturing mgmt matter?
- Print market is very COMPETITIVE
- consumers are always looking for:
- better s/p
- quick/fast deliver
- High quality
- better prices
T or F….Manu mgmt helps company to compete
True
T or F….Manu mgmt is the core of the company
True
T or F….Manu Mgmt affects customers & profit
True
What % of a company’s budget goes towards Manu Mgmt?
60-70%
T or F….Check and guarantee quality of work (and proofs) going out the door is a responsibility of the print production manager?
True
What is strategy?
- Deciding what to do (direction)
2. How to do it (implementation)
What is operations?
transforming inputs into output
What is the GOAL of operations
to only positively effect the company (develop strategy to achieve this)
What is operational strategy?
-how all the components of a business work together to achieve a set of biz objectives within a given period of time
What does operational strategy address?
major long-term issues (e.g. How big to make plant facilities, where to locate facilities, when to build facilities, what type of processes needed)
Where does operational strategy come from?
vision statement > Mission statement Business objectives -Goals > Business strategies > operations strategy
To create an effective strategy we need to…
define the company to create a targeted strategy;
a. Vision statement
b. Mission statement
c. Goals
What are the 2 important factors to communicate in your vision statement
- core ideology
2. envisioned future
What is BHAG?
Big Hairy Audacious Goals
What is under core ideology
core value - characteristics you can’t live without
core purpose - most fundamental reason for being
what is under envisioned future
BHAG - 10-30 yr goal, 50-70% chance to successfully meet the goal
vivid description - what it FEELS like to achieve the goal
T or F …..The mission statement address: what biz are we in? & is essential for establishing objectives and formulating strategies
True
