Sac 4 Flashcards
To Pass
operations management
the management of resources and functions within a business to achieve efficient output of finished goods and services in a way that adds value to customers and creates a profit margin for the business.
procurement
act of obtaining or buying good and services. The process includes preparation and processing of a demand as we as a receipt and approval of payment.
ecommerce
buying and selling of goods and services or the transmitting of funds or data, over electronic network.
total quality management and 2 aspects
tqm is a concept whereby all staff in a business have responsibility for its process and output. A main aspect is consistency of high standards for a businesses products and services at every stage of production. Another core aspect can be to minimise waste and defect rates in production, also maximises the operational efficiency and consistency.
operations management and competiveness
operations management is the management of resources and functions within a business to achieve efficient output of finished goods or services in a way that adds value to customers and creates a profit margin for the business. However, competitiveness is the ability of a firm or a nation to offer products and services that meet the quality standards of the local and world markets at prices that are competitive and provide adequate returns on the resources employed or consumed in producing them.
two input strategies
raw materials are unprocessed resources taken directly from the environment such as unprocessed minerals or farm produce. Relating to CUB raw materials in the bottles that are put into a cycle. Labour is the work and skills of people utilised during production. Relating to Ikea labour workers are the ones that assure customers are treated well and satisfied.
lean management
range of measures to reduce waste
the steps are:
-identify what customers will pay for a product
-identify all steps taken in the operations system
-make everyone responsible for waste
-implement improvements
-empower employees and make them responsible to eliminate waste
-partner with suppliers
just in time
an inventory management system which aims to avoid holding any stock. Suppliers arrive just as needed for production, while finished products are immediately sold
materials requirement planning and scheduling
it is a computer based inventory management system designed to assist the operations manager with scheduling and placing orders for materials. The mrp determines what materials will be required in what quantities and when. It assists productivity levels by:
- ensuring sufficient inputs are on hand to meet production requirements
- minimising inventory costs
- planning operational activities
3 benefits of global sourcing
a business seeks to find the most cost efficient location for manufacturing a product, even if the location is in a foreign country.
- opportunity to take advantage of global efficiencies
- skills and resources not found in the home nation can be tapped
- jobs and economic opportunity are provided in economically disadvantaged areas
technological advancement and how it improves efficiency
technology advancement is the practical application of science to achieve objectives. An example of this is automation which is the replacement of human technology with technology, this can increase production speed and reduce costs for labour towards the business. Things also like scanners in a business can increase efficiency as they carry out data. Self serve checkout may also be more efficient for customers with a small amount of items so they don’t have to wait in line to pay.
one aspect of operations system- difference between manufacturing and service industries
an aspect of the operations system is the high quality standard but into its process. At both the input and transformation stages quality is improved therefore competitive. Manufacturing, present in the production process creates tangible finished goods through factors of production such as:
- construction
- engineering
- factories
- craft
