terminology/syllabus point Flashcards
(45 cards)
key words relating 2 strategic role of operations management – cost leadership, good/service differentiation
- strategic advantages
- long term
- planning, controlling and improving
- lowest cost manufacturer
- low-cost inputs
- lower profit margins
- Economies of scale
- a greater market share
- uniquely differentiated
- augmented features
- strategic alliances
- higher premium prices
- brand loyalty
role of operations
key words of goods and/or services in different industries
- Manufacturing outputs
- Service – heterogenous
- Standardised, customised goods/services
- Perishable/ non perishable
- Intermediate goods
tangibility/capital.labour intensive/modifications
role of operations
interdependence with other key business functions
finance :
* budgets
* investments
* routine maintenance
* data
marketing:
* research
* augmenting
* innovative
HR
* leadership style
* rewards system
* skills
influences
key points for globalisation
- Removal of trade barriers
- Economies
- “Death of Distance”
- Tariffs
- Outsourcing - less stringent laws/unethical
- New Markets
- Supple Chain
- Competition
influences
technology key words
- Innovativ devices, systems, machinery
- Application
- Accuracy
- Robotics/CAM/CAD
influences
Key words of quality exp
- Quality of design
- Fitness for purpose
- Durability
Services
* Professionalism
* Reliability – competence
* Level of customisation – tailored
* Quality assurance, control and improvement
influences
key words of cost based
Cost Based Competition
* Cost leadership
* Fixed/variable
1. Source supplies efficiently
bulk buying
- Ways of Production
* EOS
* Automated production
o Streamlined processes
o Lean Production
influences
key words of gov policies
- Societal expectations
- Restrictions/regulations
- Deregulations
- Subsidies/grants
- Tax/Tariffs changes
- Interest rates
- Competition changes
influences
key words of legal regs
- Safety and fair business conduct
- Compliance/departments/costs
- Litigations/fines
- Work health and safety act 2011
- Competition and consumer act 2010
influences
key words of environmental sustainability
- Goodwill
- Ethical cooperation
- Carbon emission
- Smart inventory control
- Lean production
influences
Key words of CSR
- Triple bottom line (economic, environmental and social)
- Accountable
- Ethical responsibility
Legal compliance vs Ethical Responsibility
ethical :
* open/accoutable
* on your own will
legal:
* complying
* strictly observed
* standards of behaviour
* penalties for breaches
processes
inputs
– transformed resources (materials, information, customers)
changed during the production process.
materials : raw, intermediate goods
information : internal/external
-analysis of performance
-knowledge to operate equipment
customers :
-CUSTOMER RELATIONSHIP MANAGEMENT
-their choices shape inputs
processes : inputs
transforming resources (human resources, facilities)
inputs that perform the transformation process
HR :
-skills, knowledge, capabilities and labour
-suitably qualified
Facilities :
-plants : factory/office (location, layout)
-Machinery (type, amount, extent of use)
processes
transformation processes
– the influence of volume, variety, variation in demand and visibility (customer contact)
Volume
* Mass production/Low volume
* EOS
-number of products
Variety
* Standard products with no/small/wide variety
-different models
Variation in demand
* Constant/seasonal/unpredictable demand
-reaction
Visibility
* Speed of operations
-service based
-well trained skilled employees
transformation processes of management
job production :customisation
batches/bulk production :
-made in groups
flow production:
-continuous flow of inputs/outputs
processes
Key words of Sequencing/scheduling
- Efficiency, organisation
- Directionality
- Adjustments
- Task analysis
- Gantt chart:
records number of tasks
monitoring - Critical path analysis
-series of repeated tasks
o Interrelationship
o Critical vs noncritical
processes
key words of technology
- Manufacturing
(robotics,cad,cam) - Service-based/office
(telecommunication)
pros :
-efficiency/productive/less waste
-flexibility/ response to changes fast
-***Databases can be used to help manage data (easier to manage stock)
cons:
-cost benefit analysis
-affordable or not
-additional costs (maintanence)
-risks (largely untested)
processes
Key words of task design
- right employee to the right job
-efficiency - ongoing analysis and adjustments
- ensure continuous improvement in productivity.
processes
key words of process layout
- facilities layout planning : physical layout
- process layout : machinery is arranged by their functions.
-staff to be specialised - product layout – assembly line manufacturing (station to station)
-machines set up systemically
monitoring, controlling and improvement : processes
monitoring (key words)
**IMPLEMENTING
- collecting data to measure performance
- pinpoint where problems occur
- Monitoring 6 KPIS
monitoring, controlling and improvement : processes
Key words of controlling
IDENTIFYING ISSUES
-target vs resultant
-optimising productivity
-constructive performance reviews
monitoring, controlling and improvement : processes
key words of improvement
-reduce inefficiencies, (bottlenecks)
-Kaizen (continuous improvement)
Speed : eliminate bottlenecks
Quality : establish quality standards
Costs: identify unnecessary variable costs and fixed
Efficiency : reduce waste and create more outputs from every input
processes : outputs
key words of customer service
- Review and reshape
- long term relos
- brand loyalty/reputation
- courteus manner
