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Business > Unit 3 AOS 3 > Flashcards

Unit 3 AOS 3 Flashcards

(64 cards)

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1
Q

Operations management

A

Efficiently managing resources and functions in a business to produce goods or services that add value for customers and generate profit.

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2
Q

Role of the operations manager

A

Responsible for overseeing the operations system and ensuring they meet the business objectives

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3
Q

Inputs

A

Materials, human resources, technology, capital, utilities, knowledge, skills.

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4
Q

Process

A

Adds value to the inputs as they are transformed into outputs. e.g. sorting, blending, packing.

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5
Q

Outputs

A

Results of the process stage in the form of goods and services.

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6
Q

Manufacturing sector industries

A

Create tangible goods through combining factors of production in a production process

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7
Q

Tertiary/services sectors

A

Produce intangible products known as services, selling labour and expertise

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8
Q

Similarities between manufacturing and service providers

A

-Plan and develop organisational objectives
-Utilise technology
-Deal with customers/suppliers
-Require decision making

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9
Q

Efficiency

A

How productively a business uses its resources when producing a good
or service

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10
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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11
Q

Effectiveness

A

The extent to which a business achieves its stated objectives.

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12
Q

Capital intensive

A

When a business uses a high degree of machinery and equipment during its production process.

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13
Q

Inventory

A

The resources and finished goods held as stock.

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14
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.

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15
Q

Robotics

A

Programmable machines that are capable of performing specified tasks

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16
Q

CAD

A

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

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17
Q

CAM

A

Use of software that controls and directs production processes by coordinating machinery and equipment through a computer

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18
Q

Artificial intelligence

A

Using computerised systems to simulate human intelligence and mimic human behaviour

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19
Q

Forecasting

A

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

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20
Q

Master production schedule (MPS)

A

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

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21
Q

Materials planning requirement (MRP)

A

A process that itemises the types and quantities of materials required to meet production targets set out in the master production schedule

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22
Q

Just in time (JIT)

A

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

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23
Q

Quality

A

A good or services ability to satisfy a customers need

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24
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

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25
Quality assurance
Involve machinery and equipment that are arranged in a sequence, and the product is developed as it proceeds through each step.
26
Total quality management (TQM)
A holistic approach where all employees are committed to continuously improving the business's operations system to enhance quality for customers
27
Waste minimisation
The process of reducing the amount of unused material, time or labour within a business
28
Waste
Any resource that is discarded because it cannot be further used in the production process
29
Waste areas
Transportation Inventory Motion Waiting Overproduction Overprocessing Defects
30
Reduce
A waste minimisation strategy that aims to decrease the amount of resources, labour, or time discarded during production.
31
Reuse
A waste minimisation strategy that aims to make use of items which would have otherwise been discarded.
32
Recycle
A waste minimisation strategy that aims to transform items which would have otherwise been discarded.
33
Lean management
The process of systematically reducing waste in all areas of a business's operations system whilst simultaneously improving customer value
34
Pull
A lean management strategy that involves customers determining the number of products a business should produce for sale
35
One-piece-flow
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.
36
Takt
A lean management strategy that involves synchronising the steps of a business’s operations system to meet customer demand.
37
Zero defects
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.
38
Corporate social responsibility
The continuing commitment of a business to operate in an ethical manner, above and beyond minimum acceptable standard in an economically, socially, and environmentally sustainable manner whilst balancing the interests of diverse stakeholders
39
Environmental sustainability
Involves making an effort to ensure natural resources are not permanently depleted or damaged by business activities.
40
Global sourcing of inputs
Involves a business acquiring raw materials and resources from overseas suppliers.
41
Tariffs
Taxes that must be paid to the government for particular imports and exports
42
Quotas
Limitations in international trade on the amount of a particular product that can be imported and exported into a country, which are usually set by the government
43
Overseas manufacture
Involves a business producing goods outside of the country where its headquarters are located.
44
Overseas manufacture advantages
-Cheaper labour costs, allows business to lower product prices -Production speeds can be increased by the use of highly skilled and experiences overseas employees
45
Overseas manufacture disadvantages
-Damage can occur to manufactured goods in transport -Poor CSR practices may occur in some countries reflecting badly on the business -Reduces job opportunities for local employees if business moves manufacturing overseas -Delivery is time consuming
46
Global outsourcing
Involves transferring specific business activities to an external business in an overseas country
47
Global outsourcing advantages
-By allocating more resources the business can focus more on it's own areas of expertise -Able to decrease labour costs by reducing need for local employees
48
Global outsourcing disadvantages
-Reduced control over some of the business activities as they have been transferred to an external business -May be difficult to communicate with external overseas businesses due to language barriers
49
Characteristics of operations management
-plan and develop organisational objectives -utilise technology -aim to produce high - quality products or services at the lowest cost
50
Quaternary sector
The branch of the tertiary sector that provides intellectual activities. Includes: government, education, scientific research and IT
51
Automated production lines impact on efficiency
Automated production lines can perform at speeds much faster than humans, reducing the amount of time taken to produce outputs, thus improving productivity
52
Automated production lines impact on 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 the overall quality of the final product, which can increase customer satisfaction, sales, and market share
53
Robotics impact on efficiency
Robotics can perform specific tasks quickly and with high levels of accuracy. This can reduce the amount of time and resources wasted in production, therefore resources are used more optimally, improving productivity
54
Robotics impact on effectiveness
Robotics can perform specified tasks quickly with high levels of precision, which can minimise the number of errors that occur during production. This can enhance the overall quality of the final product and increase customer satisfaction, sales, and market share.
55
CAD impact on efficiency
CAD can reduce the time and labour needed to design a product, allowing resources to be used more optimally and productively
56
CAD impact on effectiveness
A business can use CAD to 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 satisfaction, sales, and market share
57
CAM impact on 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, thus improving productivity
58
CAM impact on effectiveness
CAM software is 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.
59
AI impact on efficiency
AI can reduce the time and labour used to complete complex tasks that would usually require human intelligence. This can allow resources to be used more optimally and improve productivity
60
AI impact on effectiveness
AI can perform complex tasks, such as providing timely and high-quality customer assistance. This can improve customer satisfaction levels, and allow for increases in sales and market share
61
Online services impact on efficiency
Online services can remove the need for employees to perform certain tasks and enable labour resources to be used more efficiently
62
Online services impact on effectiveness
Implementing online services within an operations system can improve convenience for customers, increasing levels of customer satisfaction, sales, and market share
63
Forecasting impact on effectiveness
Forecasting improves a business’s ability to meet customer demand which can contribute to increased customer satisfaction, sales, and market share
64
Forecasting impact on efficiency
Forecasting decreases the likelihood of ordering and storing excessive amounts of materials which optimises the use of resources by reducing wastage

Business (3 decks)

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