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Business Fundamentals > Chapter 10 > Flashcards

Chapter 10 Flashcards

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1
Q

Define operations management

A

Set of methods and technologies used in producing goods/services

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2
Q

Define service operations

A

Production of activities yielding tangible and intangible service products

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3
Q

Define goods production

A

Production activities yielding tangible results

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4
Q

Define time utility

A

When product is available

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5
Q

Define place utility

A

Where product is available

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6
Q

Define ownership/possession utility

A

Consumption/ use of product

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7
Q

Define form utility

A

Product’s form i.e. Transformation of raw materials into finished product

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8
Q

What is the difference between service and manufacturing operations

A
  1. Interacting with customers 2. Services can be intangible, unstorable 3. Customers presence in operations process 4. Service quality considerations
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9
Q

Define goods-producing processes

A

Methods of technology used in production of goods and services

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10
Q

What are the 3 classifications of methods and technologies in goods-producing processes

A
  1. Type of transformation technology 2. Type o process (analytic vs synthetic) 3. Amount of customer contact
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11
Q

What are the 5 types of transformation technologies

A
  1. Chemical process 2. Fabrication 3. Assembly 4. Transport 5. Clerical
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12
Q

Define the analytic process

A

Resources broken down in production process i.e. extracting minerals from ore

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13
Q

Define synthetic process

A

Resources combined in production process

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14
Q

Define the service-producing process

A

Customers involved, affecting transformation process, low contact system vs high contact system (customers physically present)

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15
Q

What are the 4 aspects of the business strategy

A

Quality, lower prices, flexibility, dependability

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16
Q

What makes up operations planning

A

Forecasting and planning, operations planning and control, capacity planning, layout planning,

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17
Q

How are operations plans successful

A

By being carefully planned and implemented

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18
Q

Define forecasting and planning (5)

A

Capacity, quality, location, layout, methods planning

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19
Q

What are the steps to operations planning and control

A

I. Business plan and forecasts,2 long-range operations plan 3. Operations schedule 4. Operations control 5. Output to customers,who then give feedback on first 4

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20
Q

Define capacity planning for g/s

A

Amount a firm can produce under normal conditionsW

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21
Q

What are the 3 conditions to capacity planning

A
  • Capacity should slightly exceed normal demand
  • Accomodate seasonal changes/peak times
  • Address ways to use excess capacity
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22
Q

What are the 3 types of layout plannins

A

Process layout, cellular layout, product layout

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23
Q

Define process layout

A

Equipment, people grouped by function

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24
Q

Define cellular layout

A

Used when families of products can follow similar flow paths

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25
Define product layout
Organizing equipment/people to produce one type of product ex: assembly line, industrial robotics, lean manufacturing
26
What are other types of layouts currently in development
Flexible Manufacturing Process (FMS) Soft manufacturing Moveable factory
27
Define FMS
Production system allowing single factory to produce small batches of different goods on same production line
28
Define soft manufacturing
Emphasizes computer software/networks instead of production machines
29
Define moveable factory
Purchasing relatively modern production equipment and transporting it to another location to create a new manufacturing plant, usually in developping country
30
What are the 2 types of operations scheduling
Scheduling goods operation, and scheduling service operations
31
Define scheduling goods operation
Master production level (top level): which products, when, what resources, what time period
32
What are the 2 types of scheduling service operations
Low-contact services: based on desired completion dates/arrival High contact services: customers directly involved (impacts scheduling)
33
What are Gantt Charts
Diagram of steps in project + required time, useful in checking process
34
What is a PERT chart
Specifies sequence, critical path of steps for a given project, identifies activities that may cause delay
35
Define operations control
Monitoring performance by comparing results to original plan/schedule
36
What are the three steps to operations control
1. Follow-up ensuring production decisions are being implemented 2. Materials management 3. Production-process control
37
Define materials management
Planning, organizing, controlling flow of materials from purchase to distribution of finished goods
38
Examples of materials management
Transportation Purchasing Inventory Control Supplier Selection Warehousing
39
What are the tools necessary for process control
Employee training Material requirements training Just-in-time production systems Quality control
40
Define just-in-time production systems + advantages
Parts delivered only when needed; helps resources continually flow from raw materials to finished products, saves on warehouse costs, helps a smooth movement of product components
41
Define materials requirement planning (MRP)
Computerized bill of materials to estimate production needs; resources then acquired and put into production on a need basies
42
Define manufacturing resource planning (MRP II)
Advanced version of MRP tying all parts of org into production activities such as Production Inventory HR Marketing Finance
43
Define quality
Product's fitness for use in terms of offering features that consumers wantD
44
Define measuring productivity
Measured by ratio of outputs to inputs, with labour acting as inputs due to easily available data
45
How is labour productivity calculated
GDP/total # of workers OR # of hours
46
Define domestic productivity
Productivity affecting standard of living, employee wages, investor profits, customer prices
47
Is manufacturing or service productivity higher + why
Manufacturing is higher BUT service gaining from modern info tech eliminating inefficiencies
48
What impacts productivity within any industry
Labour-union negotiations, investors, supplies
49
Which industries have gained from new tech
Agriculture, computer, steel
50
Define company productivity
Higher gives competitive edge, decreased cost decreasing prices therefore increasing profit/wages
51
What factors can impact company productivity
Investors buying stock, employee profit-sharing plans, managers' plans for future
52
What are the characteristics of total quality management (TQM)
1. All activities and parts of business (ex customers, suppliers, employees) 2. Leadership, customer focus are key 3. Requires highest level of commitment (no defects are tolerable) 4. Highlights continuous improvement 5. All employees responsible for maintaining quality standard
53
Define performance quality
Features of product, how well it performs
54
Define quality reliability
Consistency, repeatability of performance
55
Define quality ownership
Idea that quality belongs to each person who creates/destroys while performing job
56
What are the quality assurance tools (10)
1. Competitive product analysis 2. Value-added analysis 3. Statistical process control 4. Quality/cost studies 5. Quality-improvement teams 6. Benchmarking 7. Getting closer to customer 8. ISO 9000:2000, ISO 14000 9. Re-engineering 10. Adding value through supply chains
57
Define value-added analysis
Evaluation process determing value added by 1. all work activities 2. material flows 3. paperowrk helps to reveal and eliminate wasteful activities
58
Define statistical process control (SPC)
Methods enabling managers to analyze variations in production data Detects when adjustments are needed to create products with high quality reliability
59
Define process variation
Change in employees, materials, work methods, equipment affecting output quality
60
Define a control chart
Statistical process control methods plotting results on diagram, results outside control limits easily spotted
61
Define quality/cost studies
Assessing quality-related costs and identifying areas with cost-saving potential; costs associated with making, finding, repairing, preventing product defects; requires determining costs of internal/external failures
62
What are the 3 characteristics of quality improvement teams
Groups of employees from various areas meeting to define, analyze, solve quality problems Goal is to improve work methods and products Brainstorming, discussing, quality/cost study
63
Define benchmarking
Comparing quality of firm's output with quality of output of industry leaders
64
Internal vs external benchmarking
I: comparing to company's past performance E: comparing to competitors best practices
65
Define ISO 9000:2000, ISO 14000
Programs certifying company meets rigorous standards of ISO (international organization for standardization)
66
How are ISO ratings earned
Product testing Employee training Record-keeping Correcting defects
67
Define reengineering business process
Redesigning business processes to improve performance, quality, productivity
68
Define adding value through supply chains
Group of companies, stream of activities involving getting product from raw material stage to end of consumer
69
Define supply-chain management + adv (3)
Offers competitive edge because companies work together to improve overall flow of goods Customers get better value Smooth flow of accurate info reduces unwanted inventory Materials move faster to consumers

Business Fundamentals (15 decks)

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