Operations Management: Processes and Supply Chains

A collection of flashcards covering key concepts related to Operations Management and Supply Chains.

What is Operations Management?

The systematic design, direction, and control of processes that transform inputs into services and products for internal and external customers.

Who is known as the 'Father of scientific management'?

F.W. Taylor.

What major concept did Henry Ford introduce?

The concept of mass production, exemplified by the Ford Model T.

Define Supply Chain Management.

The synchronization of a firm's processes with those of its suppliers and customers to match the flow of materials, services, and information with customer demand.

What are order qualifiers?

Minimum level required from a set of criteria for a firm to do business in a particular market segment.

List three competitive priorities in operations management.

Cost, Quality, Time.

What does a 'nested process' refer to?

The concept of a process within a process.

What does the term 'Customization' refer to in competitive priorities?

Satisfying the unique needs of each customer by changing service or product designs.

What is the importance of measuring productivity in operations management?

It helps in monitoring, continuous improvement, benchmarking best standards, and decision-making.

Name one trend and challenge in Operations Management.

Global Competition.