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Business Management UNIT 3 > AOS 3 Operations Management > Flashcards

AOS 3 Operations Management Flashcards

(53 cards)

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1
Q

operations management

A

all the activities involved in optimising the processes that create goods and services to create a finished output

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2
Q

efficiency

A

how well a business uses its resources when producing a good or service

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3
Q

effectiveness

A

the extent to which a business achieves its stated objectives

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4
Q

what are the three main elements of OM?

A

Inputs, processes and outputs

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5
Q

Inputs

A

resources used in the process of production

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6
Q

Processes

A

the transformation of resource inputs into goods or services

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7
Q

outputs

A

the final good or service that is delivered to a customer

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8
Q

Productivity

A

How efficently a company uses its resources (inputs) to produce goods or services (outputs) over a measured period of time

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9
Q

What is the relationship between OM and business objectives

A

OM helps a business achieve business objectives through increasing productivity, improving quality and ensuring timely delivery

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10
Q

Manufacturing business

A

A business that focuses on a tangible physical good provided to a customer for a payment

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11
Q

Service business

A

A business that focuses on providing intangible labour or expertise in return for a payment

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12
Q

Technology

A

The equipment and knowledge available to help how a business performs, functions or creates products

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13
Q

What are 6 technology strategies?

A

automated production lines, computer aided design, computer aided manufacturing, robotics, artificial intelligence and online services

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14
Q

Automated production line

A

Machinery and equipment arranged in a sequence with components added to the good as proceeds through each step

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15
Q

Automated production line advantages and disadvantages

A

Advantages- Allows faster production of goods and reduces need for human labour
Disadvantages- High cost forms of technology that can be unaffordable and requires maintainence

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16
Q

Computer aided design

A

A computer software that allows a business to design prototypes of goods, creating 3D diagrams and 2D drawings before they are manufactured

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17
Q

Advantages and disadvantages of computer aided design

A

Advantages- Allows a business to view a design and product designs can be produced at a faster rate without need for redrawing
Disadvantages- Software can crash resulting in loss of work and it is expensive

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18
Q

Computer aided manufacturing

A

Software that designs and controls manufacturing processes

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19
Q

Advantages and disadvantages of computer aided manufacturing

A

Advantages- Allows a business to produce at faster rates and with greater consistency
Disadvantages- Computer software can crash leading to loss of work and machinery is expensive

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20
Q

Artificial intelligence

A

Computerised systems used to simulate human intelligenc and mimic human behaviour

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21
Q

Robotics

A

Programmable machines that are capable of performing specified tasks

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22
Q

Online services

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A

Services that are provided via the internet

23
Q

Advantages and disadvantages of online services

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A

Advantages- Can be used to deliver messages to customers and suppliers and makes the business accessible 24/7
Disadvantages- Online services can be hacked and operating online services may require expensive, high skilled staff

24
Q

Materials management

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A

The activities involved in controlling inventory of raw materials

25
What are 4 material management strategies?
Forecasting, master production schedule, materials requirement planning and Just In Time
26
Forecasting
When the operations manager uses historical data and seasonal changes to predict future production levels
27
Master production schedule
A plan that details what is to be produced and when it will take place
28
Materials requirement planning
Developing an itemized list of all materials involved in production to meet specific orders
29
Just In Time
A strategy that ensures the exact amount of materials inputs will arrive only as they are needed in the production process
30
Advantages and disadvantages of forecasting
Advantages: Ensures business doesn't overproduce or under produce Disadvantages: Past events are not guaranteed to continue in the future and it will always be inaccurate
31
Advantages and disadvantages of master production schedule
Advantages: Ensures a business doesnt overproduce or underproduce Disadvantages: Cost of implemeting is high and lack of flexibility
32
Advantages and disadvantages of materials requirement planning
Advantages: Ensures business doesn't overproduce and an appropriate amount of materials is maintained Disadvantages: High cost of implementing and lack of flexibility
33
Advantages and disadvantages of Just In Time
Advantages: Reduces storage costs and minimises waste Disadvantages: Requires good relationship with suppliers
34
What are the 3 quality management strategies?
Quality control, quality assurance and total quality management
35
Quality control
The use of inspections against a previously set standard at various points in production to check for defects
36
Quality assurance
The use of a system from an external body so that a business achieves standards in production
37
Total quality management
The ongoing, business wide holistic commitment to excellence that is applied to every aspect of the business's operation
38
Quality control advantages and disadvantages
Advantages: Prevents faulty products from reaching customers and limits time wasted producing faulty goods Disadvantages: Time consuming as rejected products are wasted
39
Quality assurance advantages and disadvantages
Advantages: Assures customers that production process is of high standard and more proactive in nature Disadvantages: Time, money and paperwork
40
Total quality management advantages and disadvantages
Advantages: Production costs are reduced as there are less defects and waste Disadvantages: Implementation requires extensive staff training
41
Benefits of waste minimisation
Demonstrates concern for natural environment, positively impacting business's reputation and reduces costs of production
42
What are the 7 different types of waste? (TIM WOOD)
Transportation, inventory, motion, waiting, overproduction, over processing and defects
43
Reduce
Strategy that decreases the amount of resources, labour and time discarded during production
44
Reuse
Strategy that aims to make use of items that would have otherwise been discarded
45
Recycle
Transforming discarded materials into new products in order to avoid using more resources
46
Lean management
A systematic approach that improves efficiency and effectiveness of operations by eliminating one or more different types of waste while improving quality
47
What are the 4 principles of lean management?
One piece flow, pull, takt and zero defects
48
One piece flow
involves a piece of production moving through the operations process one at a time.
49
Pull
Production is led by customer demand and only made as required
50
Takt
the rate in which goods or services are produced to meet demand
51
Zero defects
Preventing any defects from occuring in the production process
52
What does proactive mean and which quality strategy does it relate to?
Proactive means taking action before something has happened and it relates to quality assurance
53
What does reactive mean and which quality strategy does it relate to?
Reactive means showing a response to something and it relates to quality control

Business Management UNIT 3 (3 decks)

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