Week #1 - Intro Flashcards Preview

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Flashcards in Week #1 - Intro Deck (25):
1

What is Manufacturing Management?

the process of managing resources (inputs) to deliver the product or service (outputs)

2

Manufacturing mgmt is also know as..

Operations Management

3

What is an input

resources a company might put in

4

What is an output

what is produced

5

Materials, people, capital, data, energy is an example of...(input or output)?

input

6

services, products, info energy is an example of...(input or output)?

output

7

When depositing a cheque in the bank...what would be the inputs and outputs? (List of options: people, banking procedure, stationary, service of completing banking transaction)

input: people, banking procedure, stationary
output: service of completing banking transaction

8

Why does manufacturing mgmt matter?

1. Print market is very COMPETITIVE
2. consumers are always looking for:
-better s/p
-quick/fast deliver
-High quality
-better prices

9

T or F....Manu mgmt helps company to compete

True

10

T or F....Manu mgmt is the core of the company

True

11

T or F....Manu Mgmt affects customers & profit

True

12

What % of a company's budget goes towards Manu Mgmt?

60-70%

13

T or F....Check and guarantee quality of work (and proofs) going out the door is a responsibility of the print production manager?

True

14

What is strategy?

1. Deciding what to do (direction)
2. How to do it (implementation)

15

What is operations?

transforming inputs into output

16

What is the GOAL of operations

to only positively effect the company (develop strategy to achieve this)

17

What is operational strategy?

-how all the components of a business work together to achieve a set of biz objectives within a given period of time

18

What does operational strategy address?

major long-term issues (e.g. How big to make plant facilities, where to locate facilities, when to build facilities, what type of processes needed)

19

Where does operational strategy come from?

vision statement > Mission statement Business objectives -Goals > Business strategies > *operations strategy*

20

To create an effective strategy we need to...

define the company to create a targeted strategy;
a. Vision statement
b. Mission statement
c. Goals

21

What are the 2 important factors to communicate in your vision statement

1. core ideology
2. envisioned future

22

What is BHAG?

Big Hairy Audacious Goals

23

What is under core ideology

core value - characteristics you can't live without
core purpose - most fundamental reason for being

24

what is under envisioned future

BHAG - 10-30 yr goal, 50-70% chance to successfully meet the goal
vivid description - what it FEELS like to achieve the goal

25

T or F .....The mission statement address: what biz are we in? & is essential for establishing objectives and formulating strategies

True