Chaoter 8 Flashcards
(22 cards)
All the activities required to produce goods and services
Operations management
A situation in which us manufactures bring manufacturing jobs back to the United States
Reshoring
A manufacturing process that lowers the cost required to produce a large number of identical or similar products over a long period of time
Mass production
A process in operations management in which raw materials are broken into different component parts
Analytical process
A pro in ops manage in which raw materials or components are combined to create a finished product
Synthetic process
The ability of a good or service to satisfy a human need
Utility
Utility created by people converting raw materials finances and information into finished products or services
Form utility
An economy In which more effort is devoted to the production of services that to the production of goods
Service economy
A set of activities intended to identify new ideas that have the potential to result in new goods and services
Research and development
The development of a plan for converting an idea into an actual product or service
Design planning
A group of similar products that differ only in relatively minor characteristics
Product Line
The process of creating a set of specifications from which a product can be produced
Product design
The number of products or services that an organization can produce in a given time
Capacity
A process in which people must do most of the work
Labor intensive technology
A process in which machines and equipment do most of the work
Capital intensive technology
The arrangement of machinery equipment and personnel within a production facility
Plant layout
The time period during which an operation plan will be in effect
Planning horizon
All the activities involved in obtaining required materials supplies components and parts from other firms
Purchasing
The process of managing inventories in such a way as to minimize inventory cost including both holding cost and potential stock out cost
Inventory control
A computerized system that interstates production planning and inventory control
Material requirements planning
A system designed to ensure that materials or supplies arrive at a facility just when they are needed so that storage cost are minimized
Just in time inventory
The process of ensuring that materials and other resources are at the right place at the right time
Scheduling
