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Business Functions > Chapter 8 > Flashcards

Chapter 8 Flashcards

1
Q

Define Operations Management.

A

It is the process of manufacturing and service delivery, adding value to produce an output. AKA The transformation process.

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2
Q

What is the importance of OM in an organization?

A

It adds value to the business.

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3
Q

What are the dynamics of operations management?

A

The operation - inputs that can be changed into outputs.
Creativity - Creating something new.
Design - What determines success or failure.
Technology & Innovation - technology applied for the first time.

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4
Q

What is Operations Management in terms of value and time?

A
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5
Q

What is Operations Management as the transformation function?

A

Operation is the manufacturing process(transformation function), in which value is added to the input to produce an output with value. It does not only occur in factories.

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6
Q

What are the differences between the different OM Systems in terms of operations?

A

There are macro, micro-processes, and operations systems.

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7
Q

What is essential to Operations Management?

A

Process Management.

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8
Q

What are the different characteristics of processes in Operations Management?

A

Market Segment & Product Range.
Process Velocity.
Number of Items.
Visibility of Output.
Demand Pattern.
Lead Time.

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9
Q

What do processing flowcharts do in Operations Management?

A

They help to understand a process and enhance quality and processes.

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10
Q

What is Operations Management in terms of Performance Objectives?

A

Customer Care.
Quality.
Speed.
Cost-Effective.
Low Lead Times.
Flexibility.
Affordability.
Reliability.

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11
Q

What is the trade-off theory?

A

It is the theory that one aspect must be played against another.
Eg. Quality vs Cost.
There must be continuous improvement.

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12
Q

What is central to Operations MANAGEMENT?

A

Productivity.

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13
Q

What is the difference between macro and micro productivity?

A

Macro involves a nation’s entire production while Micro involves an individual’s business productivity.

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14
Q

What is Operations Strategy and Design?

A

It is the total pattern of decisions and actions that form the objectives of the operation. They contribute to and support the business strategy.

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15
Q

Lean Supply vs Agile Supply.

A

Lean Supply - stable, predictable, lower profit margins.
Agile supply - Volatile, less predictable, higher profit margin.

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16
Q

Study Operations Design.

A

page 29, chapter 8

17
Q

What is forecasting?

A

It is determining the demand for products produced by the business to accommodate future events.

18
Q

What are the important elements of forecasts?

A

Timely.
Accurate.
Reliable.

19
Q

What is Operational Scheduling?

A

It is determining the amount of work as well as the sequence in which work must be performed.

20
Q

What does Operational Scheduling deal with?

A

different types of capacities and resources simultaneously.

21
Q

What are the activities of Operations Scheduling?

A

MPS (Master Production Schedule).

22
Q

What is MPS (Master Production Schedule)?

A

It is the pulling, pushing, routing, sizing, and timing through workstations.

23
Q

What are the 4 activities comprising Operations scheduling?

A

Timing & Routine.
Dispatching.
Control.
Expedition.

24
Q

What is backward scheduling?

A

It is to get the date when the product is needed and use it as a starting point

25
Q

What is forward scheduling?

A

Begin at the present time and schedule from then forward.

26
Q

What is MPS (Master Production Schedule)?

A

It is the pulling, pushing, routing, sizing, and timing of workstations.

27
Q

What are the forms of Operations Improvement?

A

Leadership for Quality.
TQM.
Benchmarking.
SHE.

28
Q

What is TQM?

A

It is the improvement of ALL aspects of operations performance.

29
Q

What are the quality dimensions of TQM?

A

Reliability, Competence, Performance, Durability.

30
Q

Study Page 56 - 59 of Chapter 8.

A

Business Functions (6 decks)

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