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Operations management Flashcards

(66 cards)

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1
Q

Efficiency

A

The best use of the resources of an organisation in order to achieve organisational objectives.
How productively a business uses its resources when producing goods and services.

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2
Q

Effectiveness

A

The extent to which the organisation chooses appropriate objectives and achieve the objectives.
Being effective means ‘doing the right things.’

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3
Q

Productivity

A

The number of goods or services that are produced compared to the number of resources used in the production process.

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4
Q

Inputs

A

The ingredients which when processed become a finished product.
The resources necessary to make a product or service.

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5
Q

Processes

A

The systems involved in turning an input into an output. Any activity the business undertakes to do this transformation.

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6
Q

Outputs

A

The final product from the inputs and processes.

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7
Q

Computer-aided design (CAD)

A

A digital design tool that enables that enables business to generate and modify technical illustrations of a product.
This product can facilitate and streamline the design process.

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8
Q

Efficiency of CAD

A

Reduce time and labour resources to design a product which improves productivity.

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9
Q

Effectiveness of CAD

A

Used to develop prototypes and choose the best design to produce.
Choosing the best option allows the business to manufacture the highest quality design, increasing customer satisfaction.

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10
Q

Computer-aided manufacturing (CAM)

A

A software used to control an d direct the production process by controlling machinery and equipment through a computer.
Machines, equipment and tools used during production are given instructions from CAM.

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11
Q

Efficiency of CAM

A

CAM does not require machinery to be manually reset by people which reduces the amount of time and labour resources used in operations which improves productivity.

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12
Q

Effectiveness of CAM

A

The increased accuracy of CAM creates products with a consistent level of quality which can meet the objective of increasing customer satisfaction and sales.

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13
Q

Automated Production Lines

A

machinery and equipment which are arranged in a sequence, and the product is developed as it proceeds through each step.
Conveyor belt.

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14
Q

Efficiency of Automated Production Lines

A

Can perform at a faster speed which improves productivity.

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15
Q

Effectiveness of Automated Production Lines

A

Allows for a higher degree of accuracy which decreases errors.
Reducing errors enhances the overall quality of the final product which can meet the objective of increasing customer satisfaction and sales.

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16
Q

Website Development

A

The creation and implementation of an online platform for the business, which is controlled by the business and used by customers to buy products or services.

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17
Q

Efficiency of Website Development

A

Providing information about the businesses online, such as return policies, can save customer service staff time and improve their productivity.

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18
Q

Effectiveness of Website Development

A

Establishing an online business is less expensive than having a physical store presence which can reduce expenses and meet the objective of increased profit.

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19
Q

Forecasting

A

A materials planning tool that predicts customers demand for an upcoming period using past data and market trends.
Assists managers in making informed decisions on material quantities.

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20
Q

Efficiency of Forecasting

A

Forecasting decreases the likelihood of ordering and storing excessive stock which optimises the use of resources by reducing waste.

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21
Q

Effectiveness of Forecasting

A

increases the business ability to meet customer demand which can meet the objective of increasing customer satisfaction and sales.

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22
Q

Master Production Schedule (MPS)

A

A plan that outlines what a business intends to produce in its specific quantities, within a set period of time. Breaks down the production process.

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23
Q

Efficiency of MPS

A

Prevents a business from producing an excessive amount of products which optimises the use of resources by reducing wastage.

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24
Q

Effectiveness of MPS

A

A business is more likely to produce an amount that meets customer demand which meets the objective of meeting customer satisfaction and sales.

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25
Material Requirement Planning (MRP)
A process that itemises the types and quantities of materials required to meet production targets set out in MPS. Creates a detailed plan of exact materials needed to meet targets.
26
Efficiency of MRP
Having the exact materials needed for production reduces the amount of excessive stock that expires or becomes damaged in storage which optimises resources by reducing waste.
27
Effectiveness of MRP
Ensures there is sufficient materials to meet customer demand. Meeting customer demand helps meet the objective of increasing customer satisfaction and sales.
28
Just In Time (JIT)
An inventory control approach that delivers the correct type and quantity pf materials as soon as they are needed for production. Delivering to be used immediately.
29
Efficiency of JIT
Holding minimal stock can free up space that can now be optimised to increase production.
30
Effectiveness of JIT
Costs saved from storage space can be used in other areas of the business such as sales and marketing which can meet the objective of increasing sales.
31
Quality Control
Inspections at various stages of the production process to ensure products meet designated standards and unsatisfactory products are discarded. The comparison between a good or service and its predetermined standards.
32
Steps of Quality Control
1. Standards of quality are established 2. Inspections are regularly conducted 3. A good or service is compared against standards 4. A good or service is removed if it doesn't meet standards. 5. the cause of the error is fixed to prevent further errors.
33
Efficiency of Quality Control
Recognising errors can prevent further errors from occurring, therefore reducing waste.
34
Effectiveness of Quality Control
Eliminating errors prevents customers from receiving faulty products which can meet the objectives of satisfying customers and increasing sales.
35
Quality Assurance
A business achieving a certified standard of quality in its production after an independent body assesses its operations system. External certification body which audits against national or international standards.
36
Efficiency of Quality Assurance
Preventing errors before they occur reduces faulty products and wastage.
37
Effectiveness of Quality Assurance
Customers are more likely to purchase a good or service with a certified standard of quality, increased sales.
38
Total Quality Management (TQM)
A holistic approach where all employees are committed to continuously improving a businesses operations system to enhance the quality for customers. Involves maintaining and improving quality of inputs, processes and outputs.
39
3 Key Features of TQM
1. Customer focus- identifying needs and wants 2. Continuous improvement- evaluations 3. Employee Empowerment- employee participation
40
Efficiency of TQM
Continuously improving the quality of the production system to prevent errors reduces the number of faulty products that go to waste.
41
Effectiveness of TQM
By determining the needs and wants of a customer, TQM can meet the objectives of improving customer satisfaction and increasing sales.
42
Supply Chain Management
The coordination of the flow of goods and services from raw materials to delivering final products to customers. Allows correct materials or products to be delivered to the right locations.
43
Wholesalers
Are businesses that store and distribute manufactured goods and services to retailers.
44
Retailers
Businesses that purchase goods from a wholesaler to resell them to customers.
45
Global Sourcing of Inputs
Acquiring raw materials or resources from overseas suppliers. Many businesses implement this to obtain resources only available in other countries.
46
Overseas Manufacturer
Producing goods or services in a location outside of a business's headquarters country. Businesses may implement overseas manufacture to produce goods in high quantities for lower price.
47
Global Outsourcing
Transferring specific business activities to an external business in an overseas country. This allows a business to access a much larger number of external businesses with specific expertise.
48
CSR
The ethical conduct of a business beyond legal obligations to improve the social, economic and environmental outcomes of stakeholders. Reputation.
49
Waste Minimisation
The process of reducing the amount of unused material, time or labour within a business. Minimising waste can allow a business to provide customers with goods and services at a low cost as well as optimal quantity and quality.
50
Types of Waste to be Eliminated
``` W-waiting O-overproduction R-rejects M-motion P-overprocessing I-inventory T-transport ```
51
Waiting
People or parts that wait for a work cycle to be completed.
52
Overproduction
To produce sooner, faster or in greater quantities than customer demand.
53
Rejects
Quality errors that cause defects and require replacement.
54
Motion
Unnecessary movement of people, parts or machines within a process.
55
OverProcessing
Processing beyond the standard required by the customer.
56
Inventory
Raw material, work in progress or finished goods which is not having value added to it.
57
Transport
Unnecessary movement of people or parts between processes.
58
Efficiency of Waste Minimisation
By only using the required amount of materials, time, etc, a business can produce items faster, increasing their rate of production.
59
Effectiveness of Waste Minimisation
Reducing waste lowers operational costs which can allow for a business to offer lower prices to customers. This can assist in meeting the objective of increasing customer satisfaction and sales.
60
Lean Management
An approach that attempts to improve efficiency by eliminating all types of waste and inefficiencies in production of a good or service. This will improve or maximise customer value.
61
5S's
``` Sort Set Shine Standardise Sustain ```
62
Sort
Refers to the sorting of the clutter from the other items within the work area that are actually needed.
63
Set
The process of taking the required items that are remaining after the removal of clutter and arranging them in an efficient manner.
64
Shine
The thorough cleaning of the area, tools, machines and other equipment to ensure that everything is returned to a "nearly new" status.
65
Standardise
The process of ensuring that what has been done within the first 3 stages is common in standards and way of working.
66
Sustain
Ensuring that the business continues to continually improve using the previous stages.

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