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VCE BUSINESS MANAGEMENT > operations management > Flashcards

operations management Flashcards

1
Q

relationship between operations management and business objectives

A
  1. create a product/service
  2. do this productively and better than competitors
  3. business objectives met
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2
Q

operations system

A

series of procedures and processes an organisation undertakes in order to create outputs through the transformation of a range of inputs.

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3
Q

inputs of an operations system

A

resources used in the process of production. eg, raw materials, labour, capital resources, information, knowledge, time.

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4
Q

processes of an operations system

A

conversion of inputs into outputs. eg, transformation into tangibles or intangibles

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5
Q

outputs of an operations system

A

result of the operations system

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6
Q

6 characteristics of manufacturing and service businesses

A
  • outputs
  • production/consumption
  • storage
  • type of production
  • customer contact
  • production techniques
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7
Q

compare manufacturing and services based on outputs.

A

manufacturing: outputs are tangible. productivity and quality is easy to measure
services: outputs are intangible. productivity and quality is harder to measure

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8
Q

compare manufacturing and services based on production/consumption.

A

manufacturing: production and consumption is seperate.
services: production and consumption occurs simultaneously.

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9
Q

compare manufacturing and services based on storage.

A

manufacturing: stored prior to distribution, sold at a later date.
services: difficut to store, however records of service can be sold.

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10
Q

compare manufacturing and services based on customisation

A

manufacturing: standardised and mass produced.
services: customised to meet individual customer requirements.

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11
Q

compare manufacturing and services based on customer contact.

A

manufacturing: no/minimal customer contact during production.
services: high level of customer contact during production.

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12
Q

compare manufacturing and services based on production techniques.

A

manufacturing: capital intensive (greater use of machinery and equipment)
services: labour intensive (requires significant interaction with customers)

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13
Q

6 types of technological developments to increase efficiency and effectiveness

A
  • automation
  • robotics
  • computer-aided design
  • computer-aided manufacturing techniques
  • artificial intelligence
  • online services
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14
Q

define and evaluate automated production lines for increasing efficiency and effectiveness

A

an automated production line is a process in which raw materials enter and finished products leave with little/no human intervention.

pros: improved efficiency, increased safety, precision and accuracy.
cons: huge initial costs, ongoing maintenance, social+ethical costs due to redundancies.

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15
Q

define and evaluate robotics for increasing efficiency and effectiveness

A

programmable machine is capable of doing several different tasks.

pros: great level of efficiency
cons: can be costly to set up

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16
Q

define and evaluate computer-aided design for increasing efficiency and effectiveness

A

program that improves creating and modifying the design of products by varying inputs to see possible outputs.

pros: efficient, increased accuracy and flexibility, allows for customer input
cons: costly to introduce, increased training, potentially increased redundancies

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17
Q

define and evaluate computer-aided manufacturing techniques for increasing efficiency and effectiveness

A

control of machinery, tools and equipment. machines are fed programmed instructions from a central computer.

pros: saves costs and time, less margin of error
cons: initially expensive, increased training, potentially increased redundancies

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18
Q

define artifical intelligence for increasing efficiency and effectiveness

A

ability of a computer to do tasks that are usually done by humans.

19
Q

define online services for increasing efficiency and effectiveness

A

use of a website for interaction with potential customers.

20
Q

4 materials strategies

A
  • forecasting
  • master production schedule (MPS)
  • materials requirement planning (MRP)
  • just in time (JIT)
21
Q

define and evaluate forecasting as a materials strategy

A

predicting what materials and quantities will be required based on historical data.

pros: gives suppliers warning, prepared for times of higher demand.
cons: not always accurate, over- or under- stocked.

22
Q

define and evaluate master production schedule (MPS) as a materials strategy

A

shows exactly what will be produced in what quantities over a set time frame.

pros: allows operations manager to picture what needs to be achieved and ensure there are enough supplies, all staff are clear on goals, increased motivation.
cons: time consuming and expensive, not flexible, may not be accurate

23
Q

define and evaluate materials requirement planning (MRP) as a materials strategy

A

uses MPS to determine exact materials required. shows specific materials and quantities needed and times they will be delivered (itemised)

pros: ensures enough inputs ordered to meet production requirements, minimises inventory costs and storage, reduces waste.
cons: initially time-consuming to set up, may not be accurate

24
Q

define and evaluate just in time (JIT) as a materials strategy

A

materials delivered just as needed for production, immediately dispatched to customers.

pros: waste reduced, no storage required, theft and damage costs reduced.
cons: dependant on reliable frequent deliveries of materials, strong supplier relationship, less time for quality checks.

25
Q

3 quality strategies

A
  • quality control
  • quality assurance
  • total quality management
26
Q

define quality control and explain the procedure.

A

involves inspections at various points in production process for problems and defects. inspections occur as production occurs.
procedure: establish benchmarks, carry out inspections, compare actual with benchmark, take corrective action.

27
Q

define quality assurance and explain the procedure.

A

organisation achieves set standards in production, set and assessed by external organisation. ISO 9000 are common worldwide standards.
procedure: employ a consultant to advise on standards, adjust processes, be checked and given certification, right to use stamp of certification.

28
Q

define total quality management and explain 3 key aspects

A

commitment to excellence that emphasises continual improvement in all aspects of operation by sharing responsibililty. aims to have a defect-free process.
1. employee participation empowerment.
2. continuous improvment (kaizen)
3. customer focus

29
Q

waste

A

anything (time, labour, raw materials) that reduces speed of production. amount of products/materials misused or discarded during operations

30
Q

waste minimisation

A

process that involves reducing amount of unwanted/unusable resources created by production process

31
Q

6 examples of waste minimisation

A
  • 3Rs (reduce, reuse, recycle)
  • tracking inputs
  • redesigning products/packaging
  • JIT to manage materials
  • obtaining higher quality materials
  • improving quality control
32
Q

lean management

A

waste minimisation strategy involving a range of systematic measures to eliminate all waste in production.

33
Q

7 areas of waste

A

TIMWOOD
- transportation
- inventory
- motion
- wait times
- overproduction
- over-processing
- defects

34
Q

3 ways lean management achieves efficiency and effectiveness

A
  • deliver customer value (focus on adding value to end customer)
  • eliminate waste (removing activities, processes and machinery that do not add value to the product)
  • strive for continious improvement (aims to eliminate waste in operation system through continually identifying and eliminating waste)
35
Q

4 principles of lean management

A

POTZ
- pull
- one-piece flow
- takt
- zero defects

36
Q

define pull as a principle of lean management

A

amount produced is determined by customer demand

37
Q

define one-piece flow as a principle of lean management

A

each process only focuses on one product at a time

38
Q

define takt as a principle of lean management

A

how fast a business needs to produce to meet demand

39
Q

define zero defects as a principle of lean management

A

strive for perfection and continious improvement

40
Q

CSR

A

corporate social responsibility
- approach that is both ethical and socially responsible. goes beyond the law to express concern for environment, employees and society

41
Q

CSR in inputs

A

focuses on environmental sustainability:

  • use of supply chains (using suppliers who have an environmental management system, ensuring suppliers give adequate wage and conditions)
  • using renewable energy (green energy options, sustainable tech and equipment, commitment to renewable sources)
42
Q

CSR in processes

A

focuses on amount of waste generated:

  • recycling resources (recycling inputs reduces negative impact on society + environment)
  • disposal of waste (should be minimal. JIT and lean management. ethical disposal)
43
Q

CSR in outputs

A

focuses on production of outputs:

  • non-harmful (should add value for customers, use packaging with minimal environmental impact)
  • honest (promoted through honest and non-deceptive marketing)

VCE BUSINESS MANAGEMENT (4 decks)

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