operations by AI Flashcards
What is the primary goal of operations management?
To efficiently produce goods and services that meet customer needs.
True or False: Operations management only focuses on the production phase.
False
What is meant by ‘capacity planning’?
Determining the production capacity needed to meet changing demands.
Fill in the blank: __________ is a strategy to improve efficiency by reducing waste.
Lean production
What is the difference between ‘product layout’ and ‘process layout’?
Product layout arranges resources based on the sequence of operations, while process layout organizes resources by similar processes.
What does ‘just-in-time (JIT)’ inventory management aim to achieve?
To reduce inventory holding costs by receiving goods only as they are needed.
Multiple Choice: Which of the following is NOT a type of production process? A) Job production B) Batch production C) Continuous production D) Random production
D) Random production
What is ‘supply chain management’?
The management of the flow of goods and services from raw materials to the final customer.
True or False: Quality control is only necessary at the end of the production process.
False
What is a ‘key performance indicator (KPI)’ in operations management?
A measurable value that demonstrates how effectively a company is achieving key business objectives.
Fill in the blank: __________ is the process of monitoring outputs to ensure they meet required standards.
Quality assurance
What is the role of technology in operations management?
To enhance efficiency, improve quality, and reduce costs.
Multiple Choice: Which of the following is a benefit of automation? A) Increased labor costs B) Reduced production speed C) Higher consistency in product quality D) Increased variability
C) Higher consistency in product quality
What does ‘total quality management (TQM)’ focus on?
Continuous improvement of processes and products with the involvement of all employees.
True or False: The ‘Gantt chart’ is a tool used for project scheduling.
True
What is the purpose of a ‘value chain analysis’?
To identify the activities that create value for customers and optimize them.
Fill in the blank: __________ refers to the consistency and reliability of a product over time.
Quality
What is ‘forecasting’ in operations management?
The process of predicting future demand for products or services.
Multiple Choice: Which inventory method is used to manage stock levels? A) FIFO B) LIFO C) JIT D) All of the above
D) All of the above
What is the significance of ‘lead time’ in operations?
It is the total time from the start of a process until its completion.
True or False: Operations management has no impact on customer satisfaction.
False
What is ‘process improvement’?
The proactive task of identifying, analyzing, and improving existing business processes.
Fill in the blank: __________ is a method for analyzing the efficiency of production processes.
Process mapping
What does ‘inventory turnover’ measure?
How many times inventory is sold and replaced over a period.
