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COMM 225: Operations management > Ch 1 book: Introduction to Operations Management > Flashcards

Ch 1 book: Introduction to Operations Management Flashcards

1
Q

World class manufacturing (WCM)

A

an advanced version of JIT lean manufacturing

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2
Q

operations management

A

the management of processes that create goods and/or provide services

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3
Q

A process

A

a sequence of activities which uses resources and achieves a desired result

usually performed by more than one person

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4
Q

a good

A

a tangible item

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5
Q

a service

A

an act or work for someone (a customer or client)

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6
Q

how can processes be classified?

A

core

support

managerial

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7
Q

Core processes

A

business processes that have significant commercial impact for an organization

the ongoing end-to-end practices that deliver the organization’s goals

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8
Q

support processes

A

do not directly create products or services

are necessary to facilitate or assist the execution of operating or management processes

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9
Q

managerial processes

A

organisational routines that underpin the dynamic capabilities of an organisation

controlling and reconfiguring the organisation’s resource base

impacting the organisation’s ability to attain, sustain or enhance performance in the long‐term

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10
Q

Efficiency

A

operating at minimum cost and time

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11
Q

Effectiveness

A

achieving the intended goals (quality and timeliness)

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12
Q

An organization’s three basic functions

A

operations

finance

marketing

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13
Q

what must an organization’s main functions do in order to achieve goals?

A

must interact

work together

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14
Q

operations function

A

represents manufacturing and service processes

manages all the activities directly related to producing goods or providing services

to αdd value during the transformation process

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15
Q

do operations functions exists in both manufacturing industries and service industries?

A

ye boooy

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16
Q

what do we mean when we say that the production process must be an adaptive system?

A

To ensure that the desired outputs are obtained, measurements should be taken at various points (feedback),

then, we must compare with previously established standards to determine whether corrective action is needed (control)

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17
Q

Value added

A

the difference between the cost of inputs and the value or price of outputs

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18
Q

value of outputs in nonprofit organizations

A

their value to society

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19
Q

how to increase value added? benefits?

A

eliminate useless or wasteful inputs

the greater the amount of funds available

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20
Q

finance function

A

secures funds at favourable terms

allocates those funds throughout the organization

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21
Q

how do finance and operations management personnel cooperate?

A

by exchanging information and expertise in Provision of funds

by exchanging information and expertise in Economicαl analysis of cαpital investment proposαls

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22
Q

Provision of funds

A

attribute necessary funding of operations and the timing of funding

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23
Q

Most businesses obtain the majority of their funds through what?

A

the revenues generated by sales of their goods and services

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24
Q

Economicαl analysis of cαpital investment proposαls

A

Evaluation of alternative investments in plant and equipment by operations and finance people

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25
marketing function
responsible for receiving customer wants/needs and feedback responsible for communicating these to operations and to product design
26
manfacturing lead time
The time between the placement of an order and the shipment of the completed order to the customer realistic estimate of how long it will take to fill customer orders
27
how does management αccounting help?
supplies management with information on costs of labour, materials, and overhead provides reports on items such as scrap, downtime, and inventories
28
how does financial αccounting help?
deals with accounts payable and receivable gathers the information needed for financial statements
29
how does purchasing department help?
responsibility for procurement of materials, supplies, equipment, and services identifies appropriate suppliers and facilitates close supplier relationships
30
how does HR help?
recruitment and training of personnel labour relations contract negotiations wage and salary administration ensuring the health and safety of employees
31
how does manufacturing engineering help?
responsible for the machines and equipment needed in the production process
32
how does maintenance help?
responsible for the upkeep and repairs of: equipment buildings and grounds heating and air conditioning removing wastes parking, and security.
33
how does product design help?
creation goods and services from information given by marketing people provision of product specifications to operations to make the products
34
how do logistics help?
transporting raw material to the plant storage and warehousing transporting goods to warehouses, retail outlets, or final customers
35
which type of decisions are tactical and medium term (1 - 12 months ahead)
planning decisions
36
which type of decisions are usually strategic and long-term (1 - 5 years ahead)
design decisions
37
which type of decisions are tactical and short-term (1 - 12 weeks ahead)
control decisions
38
why do operations have a vital stake in design?
because design determines limitαtions of operations affects price, timeliness, and quality of products
39
tαngible output
Production of goods anything that we can see or touch
40
what differs between production of goods and performance of services?
Customer contact, use of inventories, and demand variability Uniformity of inputs Labour content of jobs Uniformity of outputs. Measurement of productivity Quality assurance
41
between production and performance of services, which has more customer contact?
performance of services
42
between production and performance of services, which is more sensible to demand variability? why?
performance of services manufacturers can build up inventories of finished goods, enabling them to absorb some of the shocks caused by variability of demand
43
between production and performance of services, which is subject to greater variability of inputs? why?
performance of services Manufacturers often have the ability to carefully control the amount of variability of their inputs
44
between production and performance of services, which often requires a higher labour content? why?
performance of services goods production typically can be more capital intensive
45
between production and performance of services, which is subject to greater variability of outputs? why?
performance of services high mechanization when producing goods generates products with low variability
46
between production and performance of services, which has a more straightforward measurement of productivity? why?
in goods production due to the high degree of uniformity of items produced services requirements from job to job make productivity measurement considerably more difficult
47
between production and performance of services, which has a more challenging quality assurance? why?
performance of services because performance and consumption occur at the same time In goods production, errors can be corrected before the customer receives the product
48
The operations manager
has the ultimate responsibility for the creation of goods or performance of services
49
The chief role of an operations manager
that of decision maker
50
A model
an abstraction of reality a simplified representation of something ignore the unimportant details so that attention can be concentrated on the most important aspects of a problem
51
types of models
physical (iconic) Mαthematical (symbolic) Schematic models Common statistical models
52
Schematic models
graphs, charts, and drawings
53
Common statistical models
ex: Normal distribution and regresslon equations
54
Quantitative techniques
focus on objective measurements and analysis of numbers in order to draw conclusions include deterministic and statistical techniques
55
types of quantitative techniques
Optimization Queuing techniques Inventory techniques to control inventory Project scheduling technique PERT Forecαsting techniques to forecast demand Stlαtistical techniques for quality control
56
Project scheduling technique PERT (program evaluation and review technique)
used for planning, coordinating, and controlling large-scale projects
57
a heuristic
a quick way to find a good solution
58
A trade-off
opportunity cost
59
A system
a set of interrelated parts that must work together interrelationships among these parts are crucial it stresses the fact that the output and objectives of the organization as a whole take precedence over those of any one department
60
Pareto phenomenon
some things (a few) will be very important for achieving an objective or solving a problem, and other things (many) will not also known as the 80- 20
61
Ethics
moral principles that govern a person's behaviour
62
craft production
highly skilled workers using simple, flexible tools produced goods according to customer specification
63
economies of scale
The economic conditions that favour larger plants and machines/ equipment by causing minimum average unit cost to decrease as slze Increases
64
major problems with craft production?
no economies of scale slow production costly production slow and costly replacement
65
Two concepts assisting in large-scale production during the industrial revolution
Division of labour interchangeable parts
66
Division of labour
the production process is divided up into a series of small tasks and individual workers are assigned to each one of these tasks the tasks were so narrow that virtually no skill was required
67
interchangeable parts concept
to standardize parts and make them so precisely that any part in a batch of parts would fit product without alteration parts did not have to be custom fitted The result was a tremendous decrease in assembly time and cost.
68
Scientific management
applying science to observe, measure, analyze, and improve work methods includes the use of economic incentives
69
moving assembly line
assembly line in which the product is pulled along the line at a fixed speed while the workers assemble its parts
70
mass production system
in which large volumes of standardized goods are produced by low-skilled or semiskilled workers using highly specialized, and often costly, equipment
71
Business analytics
comprises software used to build analysis models and simulations to: create scenarios understand realities predict future states
72
what do business analytics include?
data mining predictive analytics (forecasting) applied analytics statistics
73
data mining
looks for unusual patterns and relationships in data
74
total quality management (TQM)
emphasizes quality and continuous improvement, worker empowerment and teams, and achieving customer satisfaction similar to JIT (lean manufacturing)
75
JIT (lean manufacturing)
uses significantly fewer resources than mass production systems to produce around the same input less space, less inventory, and fewer workers uses high skilled workforce combination of mass production and craft production higher quality than mass production
76
World class manufacturing (WCM)
a combination of TQM and JIT includes worker initiated maintenance (called autonomous maintenance) and industrial engineering
77
other major trends affecting operations
The Internet and ecommerce Technology Globalization Supply chains Sustainαbility

COMM 225: Operations management (17 decks)

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