Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

BM Exam > Unit 3, Aos 3 > Flashcards

Unit 3, Aos 3 Flashcards

1
Q

Operations Management

A

coordinating and organisation the activities involved in producing the goods or services that a business sells to customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

To achieve maximised efficiency and effectiveness;

A
  1. Materials management
  2. Quality management
  3. Customer service
  4. Productivity
  5. Technological development
  6. Waste minimisation
  7. Speed of delivery
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Key Elements of an Operations System

A

inputs, processes, outputs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

inputs

A

are the resources used by a business to produce goods and services
o Labour resources (employees), Raw materials (flour, iron), Capital resources (equipment and machinery), Time, Information

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

processes

A

actions performed by a business to transform inputs into outputs
o Mixing, Designing, Baking, Computing, Cutting, Washing, Assembling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

outputs

A

the final goods or services produced as a result of a business’s operations system that are delivered or provided to customers
* Operations managers should ensure that a business’s outputs meet customer expectations relating to the quality, price and availability of the product

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Manufacturing business

A

use resources and raw materials to produce a finished physical good – tangible goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

service business

A

Provide intangible products, usually with the use of specialised expertise – intangible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

service and manufacturing similarities

A
  • Both service and manufacturing businesses aim to optimise their operations to produce high-quality outputs at a low cost of production
  • Both have to deal with suppliers during the process of managing operations
  • Both can utilise forms of technology in their operations
  • Both aim to optimise efficiency and effectiveness in their operations
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

service and manufacturing differences

A

capital v labour intensive
production and consumption occur seperately/simultaneously
tangible output v intangible output
standardised production v tailed production

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Technological Development Strategies

A

automated production lines
cad
cam
ai
online services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Automated production lines

A

involve machinery and equipment that are arranged in a sequence, and the product is developed as it proceeds through each step

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

APL e

A
  • Efficiency: production lines can perform at speeds faster than humans, reducing the amount of time taken to produce outputs, improving productivity
  • Effectiveness: automated production lines perform tasks with a high degree of accuracy which can decrease the number of errors that occur during production, reducing errors in production can enhance overall quality of final product, which can increase customer satisfaction, sales and market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Robotics

A

programmable machines that are capable of performing specified tasks

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

robotics e

A
  • Efficiency: robotics can perform specific tasks quickly and high levels of accuracy, reducing the amount of time and resources wasted in production, therefore resources are used more optimally -> improving productivity
  • Effectiveness: robotics can perform specified tasks quickly with high levels of precision, which minimises the number of errors occurring in production, enhancing overall quality of final product -> increasing customer satisfaction, sales and market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

CAD

A

digital design software that aids the creation, modification and optimisation of a design and the design process

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

CAD e

A
  • Efficiency: reduce time and labour needed to design a product, allowing resources to be used more optimally and productively
  • Effectiveness: develop various prototypes and choose the best design to produce, choosing the best option enables the business to manufacture the highest quality design -> which can increase customer sales, satisfaction and market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

CAM

A

involve the use of software that controls and directs production processes by coordinating machinery and equipment through a computer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

CAM e

A
  • Efficiency: CAM does not require machinery to be manually reset by humans which reduces the amount of time and labour resources used in the production process -> improving productivity
  • Effectiveness: able to coordinate tasks so they are performed with a high degree of accuracy, enabling the business to achieve a consistent level of quality -> which can increase customer satisfaction, sales and market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

AI

A

using computerised systems to simulate human intelligence and mimic human behaviour

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

AI e

A
  • Efficiency: AI can reduce time and labour used to complete complex tasks that would usually require human intelligence -> allowing more resources to be used more optimally and productively
  • Effectiveness: AI can perform complex tasks, such as providing timely and high-quality customer assistance -> improving customer satisfaction levels, sales and market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Online services

A

services that are provided via the internet

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Online services e

A
  • Efficiency: remove need for employees to perform certain tasks and enable labour resources to be used more efficiently
  • Effectiveness: improve convenience for customers -> increasing levels of customer satisfaction, sales and market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Material strategies

A

forecasting
MPS
material requirement planning
JIT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

forecasting

A

a materials planning tool that predicts customer demand for an upcoming period using past data and market trends

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

forecasting e

A
  • Efficiency: forecasting decreases likelihood of ordering and storing excessive amounts of materials which optimises the use of resources by reducing waste
  • Effectiveness: Improves ability to meet customer demand which can contribute to increased customer satisfaction, sales and market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

MPS

A

a plan that outlines what a business intends to produce, in specific quantities, within a set period of time

28
Q

MPS e

A
  • Efficiency: prevents from producing an excessive number of products, which optimises the use of resources by reducing wages
  • Effectiveness: more likely to produce the correct quantity of products to meet customer demand, improving customer satisfaction, sales and market share
29
Q

MPR

A

: a process that itemises the types and quantities of materials required to meet production targets set out in the MPS

30
Q

MPR e

A
  • Efficiency: Having the exact materials required reduces avoidable halts in production which enhances productivity by allowing operations to flow smoothly
  • Effectiveness: ensures there are sufficient materials to meet customer demand -> helps meet objective of increasing customer satisfaction and sales
31
Q

JIT

A

an inventory control approach that delivers the correct type and quantity of materials as soon as they are needed for production

32
Q

JIT e

A
  • Efficiency: holding minimal stock can free up areas in the workplace that can be utilised to increase production
  • Effectiveness: costs saved from reducing storage space can be used in other areas of the business, such as sales and marketing, which can meet objectives of increasing sales
33
Q

Quality Strategies

A

quality control
quality assurance
TQM

34
Q

Quality control

A

involves inspecting a product at various stages of the production process, to ensure it meets designated standards, and discarding those that are unsatisfactory

35
Q

quality control e

A
  • Efficiency: identifying and fixing the cause of an error prevents the error from reoccurring, which results in less waste being created during production, reducing waste allows a business to optimise its use of resources
  • Effectiveness: removing defective products prevents customers from receiving faulty goods or services, this can allow a business to meet objectives of increasing “sales and market share
36
Q

quality assurance

A

involves a business achieving a certified standard of quality in its production after an independent body assesses its operations system

37
Q

quality assurance e

A
  • Efficiency: preventing errors before they occur reduces the number of faulty products produced, reducing a business’s waste, allowing optimal use of resources
  • Effectiveness: customers are more inclined to purchase from a business with certified quality standard, allowing a business to increase sales and meet the objectives of increasing profit and market share
38
Q

TQM

A

a holistic approach whereby all employees are committed to continuously improving the business’s operations system to enhance quality for customers

39
Q

TQM e

A
  • Efficiency: continuously improving the quality of the production system can prevent errors from occurring and reduce the number of discarded products -> optimal use of resources
     Effectiveness: by determining customers needs and wants, TQM can improve levels of customer satisfaction and allow a business to meet the objectives of increasing sales and profit
40
Q

Waste Minimisation Strategies

A

reduce
reuse
recycle

41
Q

Waste Minimisation

A

the process of reducing the amount of unused material, time or labour within a business

42
Q

Ways that may occur in a business’s operations system:

A
  • Time can be wasted when transporting resources or products
  • Inputs can be wasted or easily damaged, especially if they are lower-quality inputs
  • Labour can be wasted when employees have little or no work to complete during production
  • Time can be wasted from delays between production stages
  • Productions can be wasted when a business produces too much and is unable to sell them
  • The labour of high-experienced employees can be wasted when they are assigned tasks that can be completed by less-experienced employees
  • Products are wasted when they are defective and cannot be sold
43
Q

watse minimisation e

A
  • Efficiency: by minimising the amount of time wasted in operations a business produces goods and services at a quicker rate, increasing efficiency
  • Effectiveness: reducing waste lowers operational costs which can allow for a business to offer lower prices to customers, which can increase number of sales meeting the objectives of market share and profit
44
Q

reduce

A

a waste minimisation strategy that aims to decrease the number of resources, labour or time discarded during production

45
Q

reuse

A

waste minimisation strategy that aims to make use of items which would have otherwise been discarded

46
Q

recycle

A

a waste minimisation strategy that aims to transform items which would have otherwise been discarded

47
Q

Lean Management Strategies

A

pull
one-pieve flow
takt
zero defects

48
Q

Lean management

A

process of systematically reducing waste in all areas of a business’s operations system whilst simultaneously improving customer value

49
Q

pull

A

a lean management strategy that involves customers determining the number of products a business should produce for sale

50
Q

pull e

A
  • Efficiency: can reduce overall production and minimise the number of wasted materials, time and labour generated by a business’s production, process, increasing productivity
  • Effectiveness: can enable a business to minimise the amount of discarded materials and resources in its production process, allowing it to reduce its expenses, allowing a business to better achieve its objectives of making profit
51
Q

one-piece flow

A

a lean management strategy that involves processing a product individually through a stage of production and passing it onto the next stage of production before processing the next product, continuing this process throughout all stages of production

52
Q

one-piece flow e

A
  • Efficiency: reduce number of errors in a business’s operations process by only producing one unit at a time, increasing productivity
  • Effectiveness: produce higher quality products at a faster rate, improving customer satisfaction, enabling a business to achieve the objective of fulfilling a market need and increasing market share
53
Q

takt

A

a lead management strategy that involves synchronising the steps of a business’s operations system to meet customer demand

54
Q

takt e

A
  • Efficiency: optimise flow of materials between the stages of production process, reducing wasted time and increasing productivity
  • Effectiveness: improve flow of processes and optimise the speed at which products are delivered to customers, improving satisfaction, increasing sales and profit
55
Q

zero defects

A

a lean management strategy that involves a business preventing errors from occurring in the operations system by ensuring there is an ongoing attitude of maintaining a high standard of quality for the final output

56
Q

zero defects e

A
  • Efficiency: involves continuously aiming to minimise errors, reducing number of materials that are discarded during the production process, increasing productivity
  • Effectiveness: continuous improvement and may lead to customers receiving high-quality products that have no defects, improving satisfaction and better fulfil a market need
57
Q

Corporate Social Responsibility (CSR)

A

ethical conduct of a business beyond legal obligations, and the considerations of social, economic and environmental impacts when making decisions

58
Q

CSR Considerations for Inputs (environment sustainability)

A

involves making an effort to ensure natural resources are not permanently depleted or damaged by business activities

59
Q

CSR Considerations for Processes

A
  • Using technology that performs tasks in a precise and consistent manner to reduce the amount of defective products discarded in production
  • Developing methods to capture and recycle unused or excess input materials, allowing them to be reused in the operations system
  • Implementing operations strategies, such as Just In Time and lean management, to reduce the number of materials being unnecessarily wasted
  • Disposing of any harmful waste that cannot be treated, in a responsible and safe manner
  • Developing policies that promote the efficient use of energy in the workplace, such as switching off all machinery and lights after use
60
Q

CSR outputs

A
  • Developing an alternative product that is more environmentally friendly than the business’s current good or service
  • Creating products that have recyclable or biodegradable elements at the end of their lifecycle
  • Eliminating as much plastic as possible in the packaging and creation of the final product
  • Delivering products to retailers in bulk to reduce the business’s carbon emissions from transportation
  • Offering customers incentives for returning the product at the end of its life cycle so that it can be properly recycled or reused
  • Providing clear labelling on a product about appropriate methods of disposal
61
Q

Global Considerations

A

global sourcing of inputs
overseas manufacture
global outsourcing

62
Q

Global sourcing of inputs

A

a business acquitting raw materials and resources from overseas suppliers

63
Q

Overseas manufacture

A

involves a business producing goods or services outside of the country where its headquarters are located

64
Q

Global outsourcing

A

transferring specific business activities to an external business in an overseas country

65
Q
A

BM Exam (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions