Operations Management Flashcards
(18 cards)
Define Operations
The transformation of raw inputs into outputs and the control of the input phase throughout the output phase.
What are some Operational Objectives?
- Efficient means of production/transformation
- Minimize wastage of inputs, processes and outputs
- Ensuring quality standards are met at each phase
- Minimizing costs of each phase
What are the Operational Strategies & (systems)
- Technology Development (Automation, robotics, CAD, CAM, CIM, website development)
- Materials Strategies (Forecasting, MPS, MRP, JIT)
- Quality strategies (QA, QC, TQM)
- Waste minimization (Lean Manufacturing)
What is productivity?
the relationship between inputs and outputs. how efficient an organization is turning raw materials into final products
What is the relationship between Productivity and Business Competitiveness?
if a business can increase its productivity it reduces costs, which means product costs can go down and compete with other prices.
Define Efficiency
reduce wastes
Define Effectiveness
consistent, more effective, right quantities used to meet production. (accurate)
Define Operations Management
a system of procedures and processes undertaken to create outputs.
What are the elements of an operations system
Inputs - materials, resources and parts for the product
Processes - transformation of the inputs into outputs.
Output - the final product or service
Ethical and Social Responsibility for elements of the operations system
Inputs - Fair dealing with suppliers
- Using local suppliers
Processes - Minimizing waste
- Good training
Outputs - Minimize packaging for less waste
- Creating products that meet and exceed customer expectations.
Characteristics of a service company
- Intangible
- Outcome is consumed as its produced
- Services cannot be stored
Characteristics of a Manufacturing company
- Tangible Goods
- Goods are storable
What is Triple Bottom Line?
a business measuring its economic social and environmental performance. (Financial returns) (Impacts on internal and external stakeholders)
Examples of technological strategies
- Automation
- Computer Aided Design (CAD)
- Computer aided Manufacture (CAM)
- Computer integrated manufacturing (CIM)
- Website development
Material Strategies
- Forecasting
- Master Production Schedule (MPS)
- Materials Requirement Planning (MRP)
- Just in Time
Strategis related to Quality
- Quality assurance
- Quality Control
- Total Quality management
Strategies to improve waste minimization
- Lean Manufacturing
- Automation
- ## Recycling materials
Define lean manufacturing
Process for eliminating all aspects of the business that do not add value to the end product, which eliminates waste.
