Operations Management: Planning Process and Emerging Trends

Flashcards defining key vocabulary terms and concepts from the Operations Planning Process and Emerging Trends and Technologies in Operations Management.

Demand Forecasting

Predicting future customer demand to ensure the business produces the right amount of goods or services without creating costly surpluses.

Data Analysis (Demand Forecasting)

Reviewing past sales trends to identify patterns.

Market Insights (Demand Forecasting)

Evaluating current economic shifts and customer preferences.

Capacity Planning

Assessing maximum output capability to identify whether current facilities, labor, and equipment can meet forecasted demand.

Resource Scaling

Matching physical space and machinery to production goals.

Labor Assessment

Evaluating workforce availability and staffing constraints.

Developing Production Plans

Creating a high-level manufacturing blueprint/plan that balances production rates, workforce levels, and inventory constraints over a medium-term horizon.

Inventory Control

Balancing stock levels against potential shortages.

Production Smoothing

Maintaining a steady, predictable manufacturing pace.

Resources and Tasks Scheduling

Assigning specific timelines and workers to individual tasks to optimize daily shop-floor efficiency and meet delivery deadlines.

Time Allocation

Setting strict project deadlines and milestones.

Task Assignment

Distributing specific duties to qualified personnel.

Identifying Total Cost

Calculating comprehensive operational expenses through a precise consolidation of both fixed costs and volume-dependent variable costs.

Fixed Costs

Stable operational expenses such as rent and insurance.

Variable Expenses

Fluctuating operational costs such as raw materials and direct labor.

Sustainable Operations

Green frameworks that integrate sustainable practices to eliminate waste and optimize resources.

Cost Minimization (Sustainable Operations)

Reduces expenditures through resource efficiency.

Brand Advocacy (Sustainable Operations)

Enhances corporate credibility among ethical consumers.

Regulatory Compliance (Sustainable Operations)

Future-proofs business operations against changing environmental legislation.

Joy for Tomorrow

The global sustainability agenda of the Jollibee Group that integrates responsible and eco-friendly practices into its fast-food operations worldwide across Food, People, and Planet.

Workforce Reskilling

Continuous employee development that transitions human talent from manual tasks to strategic oversight.

Human-Capital Optimization

Maximizes workforce output without increasing headcount/employees.

Operational Continuity

Mitigates severe labor shortages in specialized fields.

Elevated Employee Retention

Boosts team morale through clear career progression.

Googler-to-Googler (g2g)

A peer-to-peer learning program which trains over 6,000 volunteer Googlers to teach colleagues, accounting for 80% of all company training.

Project Oxygen

A data-driven manager development program that identified key behaviors of effective managers through analytics of 10,000+ observations, creating comprehensive training.

GRAD (Googler Reviews and Development)

An annual career development framework that pairs employees with managers for ongoing feedback, and twice-yearly promotions to support continuous progression.

Data-Driven Decision Making

Operational decision making where real-time metrics replace strategic intuition with empirical, evidence-based choices.

Bottleneck Identification

Pinpoints exact process inefficiencies instantly.

Predictive Accuracy

Refines demand forecasting to align production with market needs.

Objective Risk Assessment

Minimizes human bias in high-stakes operational planning.

META/Facebook Asset Metadata Hub

A unified user interface that consolidates all asset metadata, offering a single point of access to view and manage assets for data-driven decision making.

Demand Forecasting

Predicting future customer demand to ensure the business produces the right amount of goods or services without creating costly surpluses.

Data Analysis (Demand Forecasting)

Reviewing past sales trends to identify patterns.

Market Insights

Evaluating current economic shifts and customer preferences.

Capacity Planning

Assessing maximum output capability to identify whether current facilities, labor, and equipment can meet forecasted demand.

Resource Scaling

Matching physical space and machinery to production goals.

Labor Assessment

Evaluating workforce availability and staffing constraints.

Developing Production Plans

Creating a high-level manufacturing blueprint/plan to balance production rates, workforce levels, and inventory constraints over a medium-term horizon.

Inventory Control

Balancing stock levels against potential shortages.

Production Smoothing

Maintaining a steady, predictable manufacturing pace.

Resources and Tasks Scheduling

Assigning specific timelines and workers to individual tasks to optimize daily shop-floor efficiency and meet delivery deadlines.

Time Allocation

Setting strict project deadlines and milestones.

Task Assignment

Distributing specific duties to qualified personnel.

Identifying Total Cost

Calculating comprehensive operational expenses requires a precise consolidation of both fixed cost and volume-dependent variable costs.

Fixed Costs

Tracking stable expenses like rent and insurance.

Variable Expenses

Monitoring fluctuating costs like raw materials and direct labor.

Sustainable Operations

Green frameworks that integrate sustainable practices to eliminate waste and optimize resources.

Cost Minimization (Sustainable Operations)

Reduces expenditures through resource efficiency.

Brand Advocacy (Sustainable Operations)

Enhances corporate credibility among ethical consumers.

Regulatory Compliance (Sustainable Operations)

Future-proofs business operations against changing environmental legislation.

Joy for Tomorrow

The global sustainability agenda of the Jollibee Group that integrates responsible and eco-friendly practices into its fast-food operations worldwide, focused on Food, People, and Planet.

Workforce Reskilling

Continuous employee development that transitions human talent from manual tasks to strategic oversight.

Human-Capital Optimization

Maximizes workforce output without increasing headcount/employees.

Operational Continuity

Mitigates severe labor shortages in specialized fields.

Elevated Employee Retention

Boosts team morale through clear career progression.

Googler-to-Googler (g2g)

A peer-to-peer learning program which trains over 6,000 volunteer Googlers to teach colleagues, accounting for 80% of all company training.

Project Oxygen

A data-driven manager development program that identified key behaviors of effective managers through analytics of 10,000+ observations, creating comprehensive training.

GRAD (Googler Reviews and Development)

An annual career development framework that pairs employees with managers for ongoing feedback, and twice-yearly promotions to support continuous progression.

Data-Driven Decision Making

Real-time metrics replace strategic intuition with empirical, evidence-based operational choices.

Bottleneck Identification

Pinpoints exact process inefficiencies instantly.

Predictive Accuracy

Refines demand forecasting to align production with market needs.

Objective Risk Assessment

Minimizes human bias in high-stakes operational planning.

META/Facebook Asset Management System

A unified user interface that consolidates all asset metadata, serving as the central hub for asset information to provide a single point of access to view and manage assets.