5.3 Flashcards
(28 cards)
What is lean production?
a set of strategies that reduce waste in the production process
What is efficiency in operations management?
how well a business can transform physical, human, and financial inputs into outputs
What is waste in operations management?
when resources are lost and often results in damage to people and the planet
What are the 7 catagories of waste?
transporation, inventory, motion, waiting, overprocessing, overproduction, defects
What is continuous improvement (kaizen)?
a principle of lean production that involves businesses holding regular meetings where staff are invited to give opinions and suggest improvements
What are the benefits and limitations of continious kaizen?
benefits include diversity of ideas, better ideas, and employee motivation
limitations include lower productivity and higher labour costs
What is just-in-time production?
a principle of lean production that aims to minimize costs by reducing or eliminating the stock inventory being held by a company
What are the benefits and limiations of just-in-time production?
benefits includes reduced costs, improved operations, and increased capacity
limitations includes reduced economies of scale, high risk, and reduced resilience
What is crade-to-cradle design and manufacturing?
a design and production process that aims to create products in a way that minimises waste and negative effects on the environment, by making products durable, and using recyclable materials.
What is quality in operations?
the characteristics of a product/serivce that meet customer needs and expectations
What is quality management?
a set of strategies that ensure products meet or exceed customer expectations
What is quality control?
the inspection of a product in order to find defects and remove them before they are delivered to retailers/customers
What is quality assurance?
strategies to prevent defects and improve products
What is a quality circle?
a method of quality management where a group of employees who meet regularly to discuss potential improvements to product quality
What are the benefits and limiations of quality circles?
benefits include increased motivation, improved quality, and reduced costs
limitations include reduced productivity and training costs
What is benchmarking?
a method of quality management where a business compares itself with the industry leaders to see what it can learn from others
What are the two steps involved in benchmarking?
- identifying which companies have the best processes/results
- finding out how those companies do things and learn from those processes
What are the benefits and limiations of bechmarking?
benefits include improved quality, enhanced understanding of competitors, and customer satisfaction
limitations include lack of information, and selecting the right benchmark
What is total quality management (TQM)?
a quality management strategy where every employee is jointly responsible for maintaining the overall quality of the final product
What are the benefits and limitations of TQM?
benefits include motivation, improved quality, and reduced costs
limitations include reduced productivity and training costs
What is a gantt chart?
a business management tool that illustrates a project plan
What are the benefits and limitations of Gantt charts?
benefits includes that it shows the bigger picture, as well as time estimates
limitations include that estimates may be wrong, and it does not capture all information
What is critical path/network analysis?
a project planning tool that shows the minimum time period that a project needs to be completed
What can project managers gain from using critical path analysis?
the tasks involved in a project
how long each task is expected to take
order in which tasks need to be done
