Operations Management

A set of vocabulary flashcards based on operations management concepts, definitions, and frameworks.

Operations Management

The management of processes that convert inputs (e.g., labor, materials, energy) into outputs (goods/services).

Core Processes

Activities planned and executed from the moment a customer orders until the product or service has been delivered.

Supplier Relation Process

The process of how an organization deals with its suppliers and manages its supply chain.

Servuction Model

Combines service and production, focusing on how to process customers and deliver a service experience.

Order Qualifiers (OQ)

Characteristics of a product/service required for consideration by a customer.

Order Winners (OW)

Characteristics contributing directly to winning business from customers, such as speed of delivery.

Materials Processing Operations (MPO's)

Operations that focus on the processing of materials into finished products.

Customer Processing Operations (CPO's)

Operations where customers are part of the process and the service experience.

Capacity Management

The process of forecasting customer demand and ensuring sufficient resources to meet that demand.

Quality Management

The process of ensuring that an organization’s services and products meet the required standards.

Bullwhip Effect

The phenomenon where small changes in customer demand lead to larger changes in demand upstream in the supply chain.

Inventory Management

The planning and controlling of inventory to meet competitive priorities of the operation.

Queueing System

The organization of customers for processing through a service encounter.

Lean Production

A strategy that focuses on minimizing waste while maximizing value to the customer.

Agile Manufacturing

A strategy focusing on flexibility and speed to respond to changes in customer demand.

4 V's of Operations

Volume, Variety, Variation, and Visibility; key dimensions to consider in operations management.

Performance Management

The ongoing process of communication and feedback between management and employees regarding expected performance outcomes.

Service Recovery Strategies

Planned methods to address service failures and recover customer satisfaction.