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chapter 9 Flashcards

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1
Q

important
define operation management

A

an area of management concerned with overseeing, designing and controlling the processes of production and business operations, resources, and activities required for the production and delivery of goods or services with the aim of creating value for customers and profitability for shareholders

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2
Q

difference between goods and services in operation management in terms of the nature of output

A
  1. Product-based operations are typically standardized and can be physically measured and inspected
  2. Services are customized to meet individual customer needs, making them more difficult to standardize
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3
Q

difference between goods and services in operation management in terms of production and delivery process

A
  1. Product-based operations involve the physical transformation of inputs into finished goods through manufacturing processes.
    2.service-based operations are characterized by simultaneous production and consumption. Service delivery often involves direct interaction between service providers and customers
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4
Q

difference between goods and services in operation management in terms of inventory management

A
  1. Products can be stored as inventory until they are sold or delivered
  2. Services are typically consumed as they are produced
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5
Q

difference between goods and services in operation management in terms of quality assurance

A
  1. Quality control in product-based operations involves inspecting and testing finished goods to ensure they meet predetermined standards
  2. In service-based operations, quality assurance is more challenging. It often involves monitoring customer feedback, service delivery processes, and employee performance to maintain service quality.
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6
Q

difference between goods and services in operation management in terms of customer involvement

A

1.In product-based operations, customers are typically less involved in the production process. They have limited interaction with the manufacturing process
2.in service based operations customers are active participants in the service delivery process, their feedback play a crucial role in shaping the service experience.

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7
Q

what is craft manufacturing?

A

when skilled craftsmen produce goods individually or in small batches

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8
Q

example of products of craft manufacturing

A

handcrafted jewelry
handmade furniture

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9
Q

example of service of craft manufacturing

A

custom tailoring
traditional woodworking

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10
Q

advantage of craft manufacturing

A

product meets customer’s exact requirement

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11
Q

the disadvantage of craft manufacturing

A

less chance for eos

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12
Q

what is mass production?

A

large-scale production of standardized goods using machinery and automation

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13
Q

example of products of mass production

A

automobiles
packaged food product

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14
Q

example of service of mass production

A

standardized menu

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15
Q

advantage of mass production

A

opportunities for eos

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16
Q

the disadvantage of mass production

A

high capital costs for setting up production line

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17
Q

what is flexible specialization?

A

combined benefits of mass production efficiency with customization to meet varying customer demands

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18
Q

advantage of flexible specialization

A

help companies become more efficient

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19
Q

the disadvantage of flexible specialization

A

requires highly skilled workers

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20
Q

what is lean production

A

aim to eliminate waste and reduce cost; it involves streamlining process and empowering employees

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21
Q

advantage of lean production

A

reduce inventory cost

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22
Q

the disadvantage of lean production

A

need highly trained employees

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23
Q

what is mass customization?

A

combines the benefits of mass production with customized products or services. It allows customers to personalize products within predefined options

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24
Q

what is agile manufacturing?

A

ability to rapidly reconfigure production system and processes, it focuses on flexibility and quick adaption to changing customer demands

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25
what is production
input+process=input economics tends to ignore process
26
important what is productivity
measure of efficiency that evaluates how well resources are used to generate output measures the ratio of output to input
27
important example of improving productivity in the manufacturing industry
reduce production time
28
important example of improving productivity in the service industry
reduce call handling times
29
important example of improving productivity in the retail industry
streamlining checkout process
30
important example of improving productivity in the healthcare sector
reduce patient waiting times
31
what does operation management consider in value creation
1. quality 2. cost efficiency 3. flexibility and responsiveness 4.innovation and new product development
32
important what is value chain analysis
a strategic management process that helps identify the primary activities and support activities within an organization's value chain. it involves breaking down the organization's activities into specific steps, and identify opportunities for cost reduction.
33
important which activities are involved in the value chain
1. primary activity 2. support activity
34
important what are the primary activities?
directly involved in the production, marketing, delivery, and after-sales service of a product or service
35
important examples of primary activities
inbound logistics outbound logistics marketing and sales
36
important what are the support activities?
they provide the necessary support for the primary activities
37
important examples of support activity
human resource management firm infrastructure
38
important importance of value chain
can identify competitive advantage can identify opportunities for improving efficiency
39
important purpose of value chain analysis
identify emotional needs of customers identify primary and support activity evaluate competitors in the market analyze financial performance
40
important what is inbound logistics
it brings supplies or materials into a business
41
important what is outbound logistics
deals with moving goods and products out to customers
42
what is emotional bridge
connection between a product/brand with the emotional needs and desires of a customers
43
example of emotional bridge
fender guitar taps into the emotional connection that muscians have with their instrument
44
how does emotional connection contribute to competitive advantage
1. increased customer loyalty 2. differentiation from competitors
45
porter's generic strategies
it defines different approaches a company can take to achieve competitive advantage
46
what is porter's generic strategy based on
cost leadership differentation
47
what is cost leadership
being the lowest-cost producer in the industry while maintaining product quality
48
what is differentiation
create a unique product or service
49
what is the focus strategy?
targeting a specific market segment
50
example of a business having a focus strategy
rolex
51
what is production planning
process of determining the best use of resources, materials, and labor to ensure efficient and timely production of goods or services
52
what does production planning involve
setting production goals creating schedules allocating resources minimizing costs maximizing productivity.
53
components of production planning
Facility Planning Supplier Location Internet Operations Facility Layout Material Requirements Planning Enterprise Resource Planning Quality Control Just-in-Time Purchasing
54
what is facility planning?
determining the location, size, layout, and design of production facilities
55
what is the supplier location?
the strategic decision of selecting the appropriate geographic locations for sourcing materials, components, or services
56
what is internet operations
utilizing digital platforms and technologies to facilitate production and sales activities.
57
what is facility layout
arranging the physical layout of production facilities to optimize efficiency, workflow, and productivity.
58
what is material requirement planning
managing and planning material requirements based on production schedules and customer orders.
59
what is enterprise resource planning
comprehensive system that integrates various business functions, including production planning, inventory management, finance, HR, and customer relationship management.
60
what is quality control
procedures taken to ensure that products or services meet predefined quality standards
61
what is just in time
a production strategy aimed at minimizing inventory levels by producing and delivering items precisely when needed
62
what is purchasing
involves acquiring the necessary materials, components, and services for production
63
what is computer-aided design
software tool that assists in designing and creating detailed models or blueprints of products
64
what is computer aided manufacturing
utilizes computer-controlled machines to automate the manufacturing process
65
what is flexible manufacturing
quick changes in production processes to adapt to varying demand or customization requirements
66
what is robotics
the use of automated machines or robots to perform tasks.
67
what is machine learning
using algorithms and statistical models to enable computers to learn from data and make predictions or decisions.
68
what is project evaluation and review techniques
identifying the critical path estimating task durations determining project timelines. 
69
what is a gantt chart
a visual representation of project tasks, schedules, and dependencies. It displays tasks as horizontal bars along a timeline, indicating their start and end dates
70
what are project management tools
1. project evaluation and review techniques 2. Gant chart
71
importance of gantt chart
help in project planning, tracking, and communication

key concepts (7 decks)

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