Week 9 - Operations Management Flashcards
1
Q
Definition of operations
A
Is the business function for planning, coordinating and controlling the resources needed to produce products and services for a company
2
Q
Where do we see operations management? (4)
A
- Factories/ manufacturing plants
- Bank
- Hospitals
- Events
3
Q
Bank operations management (8)
A
- Teller scheduling
- Check clearing
- Collection
- Transaction progressing
- Facilities design/output
- Vault operations
- Maintenance
- Security
4
Q
Financial bank operations (5)
A
- Investments
- Securities
- Real estate
- Accounting
- Auditing
5
Q
Marketing bank operations (2)
A
- Loans e.g commercial, industrial, financial, personal, mortgage
- Trust department
6
Q
Airline operations (5)
A
- Ground support equipment
- Maintenance
- Ground operations including facility maintenance and catering
- Flight operations such as crew scheduling, flying, communications, dispatching
- Management service
7
Q
Finance/accounting airline operations (2)
A
- accounting: accounts payable, accounts receivable, general ledger
- finance: cash control, international exchange
8
Q
Marketing in airline operations (2)
A
- Traffic administration: reservations, schedules, tariffs (pricing)
- Sales advertising
9
Q
Manufacturing operations (7)
A
- Facilities: construction, maintenance
- Production and inventory control, scheduling materials control
- Quality assurance and control
- Manufacturing - tooling, fabrication and assembly
- Design - product development and design detailed product specifications
- Industrial engineering - efficient use of machines, space, and personnel
- Product analysis - development and installation of production tools and equipment
10
Q
Finance/accounting manufacturing operations (3)
A
- Disbursements/credits - accounts payable, accounts receivable, general ledger
- Funds management - money market, international exchange
- Capital requirements - stock issue, bond issue and recall
11
Q
Marketing manufacturing operations (4)
A
- Sales promotion
- Advertising
- Sales
- Market research
12
Q
List the different operations functions (6)
A
- Technical function
- Product/service development function
- Marketing function
- Information systems (IS) function
- Human Resources (HR) function
- Accounting and finance function
13
Q
Features of technical functions (2)
A
- Process technology needs
* Process technology options
14
Q
Product/service development function (2)
A
- Communicating the capabilities and constraints of operations processes
- New product/service ideas
15
Q
Feature of Marketing function (2)
A
- Market requirements
* Communicating the capabilities and constraints of operations processes
16
Q
Features of information systems functions (2)
A
- Communicating information systems needs
* Systems for design, planning and control and improvement
17
Q
Features of Human Resources function (2)
A
- Communicate human resource needs
* Recruitment, development and training
18
Q
Features of accounting and finance function (2)
A
- Financial analysis for performance measurement and decision making
- Provision of relevant data
19
Q
What is operations management?
A
Is the set of activities that create value in the form of goods and services by transforming inputs (I.e resources) into outputs
20
Q
Generalised input-output transformation model (4)
A
- Inputs to transformation to outputs
- Inputs can be: Labour, capital, materials and managers
- Transformation can be: materials, information and customer
- Outputs can be: goods and services
21
Q
What is the importance of operations management? (3)
A
- Is one of the three major functions of any organisation
- Shows how goods and services are produced
- OM is a costly part of an organisation
22
Q
Three prominent figures in operations management
A
- Frederick Taylor (1850-1915): scientific management theory
- Frank and Lillian Gilbreth: waste reduction and efficiency methods
- Henry Ford: T-model Ford car, first assembly line, fair wages to workers
23
Q
Differences between manufacturing and service operations (5)
A
- Service operations has intangible products where as manufacturers have tangible products
- In service operations the product cannot be inventoried but in manufacturing it can
- Service operations have high customer contact where as manufacturers have a low customer contact
- Service operations have a short response time where as manufactures have a long response time
- Service operations more labour intensive and manufacturing is more capital intensive
24
Q
Similarities between manufacturing and service operations (5)
A
- Use technology
- Have quality, productivity & response issues
- Forecast demand
- Have capacity, layout, and location issues
- Have customers, supplies scheduling and stopping issues
25
4 Operations management responsibilities
* Planning
* Controlling
* Organisation
* Staffing
26
Features of Planning in operations (8)
* Capacity utilisation
* Location
* Choosing products or services
* Make or buy
* Layout
* Projects
* Scheduling
* Market share
27
Features of controlling in operations management (3)
* Inventory
* Quality
* Costs
28
Features of organisation in operation management (3)
* Degree of standardisation
* Subcontracting
* Process selection
29
Feature of staffing in operations in operations management (4)
* Hiring/lay off
* Use of overtime
* Incentive plans
* Job assignments
30
What are the 9 strategic decisions in operations management
* Design of goods and services
* Managing quality
* Process and capacity design
* Location strategy
* Layout strategy
* Human Resources and job design
* Inventory management
* Scheduling
* Maintenance
31
Importance of the Design of goods and services - OM strategic decisions (2)
* Defines what is required of operations
| * Product design determines quality, sustainability and Human Resources
32
Importance of managing quality - OM strategic decisions (2)
* Determines the customer’s quality expectations
| * Establish policies and procedures to identify and achieve that quality
33
Importance of the process and capacity design - OM strategic decisions (2)
* Analysis of how a good or service is produced
| * Commits management to specific technology, quality, resources and investment
34
Importance of location strategy - OM strategic decisions (2)
* Nearness to customers, suppliers and talent
| * Considering costs, infrastructure, logistics and government
35
Importance of layout strategy - OM strategic decisions (2)
* Integrate capacity needs, personnel levels, technology, and inventory
* Determine the efficient part of the total system design
36
Importance of Human Resources and job design - OM strategic decisions
* Recruit, motivate, and retain personnel with the required talent and skills
* Integral and expensive part of the total system design
37
Importance of inventory management - OM strategic decisions (2)
* Inventory ordering and holding decisions focus
| * Optimise considering customer satisfaction, supplier capability and production schedules
38
Importance of scheduling - OM strategic decisions (2)
* Determine and implement intermediate and short term schedules
* Utilise personnel and facilities while meeting customer demands
39
Importance of maintenance - OM strategic decisions (2)
* Consider facility capacity, production demands and personnel
* Maintain a reliable and stable process
40
What are the 4 different operations strategy perspectives
* Top-down - what the business wants operations to do
* Market requirement - what the market position requires operations to do
* Bottom-up - what day to day experience suggests operations should do
* Operations resources - what operations resources can do
41
Five performance objectives for operations management (Internal/external)
* Fast through out/speed - short delivery time
* Reliable processes/dependability - dependable delivery
* Ability for change/flexibility - frequent new products and services, wide product and service range, volume and delivery adjustments
* Error-free processes/quality - on specification products & services
* Cost - low price, high profit margin or both
42
What are order qualifiers?
They are basic criteria that permit firms products to be considered as candidates for purchase by customers
43
What are order winners?
They are the criteria that differentiates the products and services are firm from another
