operations Flashcards
what are the 4 key business functions?
operations, marketing, finance, human resources
what are the two strategic roles of operations?
cost leadership and good/service differentiation
what is cost leadership?
being the market leader by charging lower prices. To achieve this a business needs to have lower costs
what is good/service differentiation?
being a market leader by producing a product with different features or high quality than its competitors
what are the 8 influences on operations management?
globalisation, technology, quality expectations, cost-based competition, government policies, legal regulation, environmental sustainability and corporate social responsibility
what is globalisation?
refers to process of increasing connections and relationships worldwide
what are the 2 inputs resources?
transformed resources and transforming resources
what does transformed resources include?
materials, information,customers
what does transforming resources include?
human resources and facilities
what are the 4 V’s?
volume, variety, variation in demand and visibility
what 2 charts are included in sequencing and scheduling
Gantt chart and critical path analysis
what does CAD & CAM stand for?
computer aided design and computer aided manufacture
what does monitoring involves?
it involves measuring actual performance against planned performance
what does controlling involve?
it involves taking corrective action when predetermined targets have not been achieved
what does improvement involve?
involves the systematic reduction in effeciencies, wasteage and poor work practices.
