Operations Management: Design of Goods and Services - Vocabulary Flashcards

Flashcards covering key vocabulary and concepts from the Operations Management lecture on the design of goods and services.

Competitive Strategies

How firms compete in the market, such as differentiation, cost leadership, and responsiveness.

X factor

A variable that could have the most significant impact on the outcome.

Competitive Advantage

A system that has a unique advantage over competitors in the market.

Competitive Strategy

Attribute that allows an organization to outperform its competitors in the marketplace.

Lean Manufacturing

A systematic method for the elimination of waste within the manufacturing system.

Responsive Supply Chain

A design that focuses on being responsive in the marketplace.

Efficient Supply Chain

A design that cares about the cost.

Functional Products

Products with low demand uncertainty and predictable demand.

Innovative Products

Products with high demand uncertainty and difficult to forecast demand.

Stable Supply

A supply with a well-known, established, and mature manufacturing process and underlying technology.

Evolving Supply

A supply where the manufacturing process and underlying technology are under yearly development and rapidly changing.

Lead Time

The duration from the time an order is placed with a supplier until the order is received.

Robust Design

Using materials that work in every weather conditions, rather than customizing for each geographical region.

Modular Design

Enable companies to quickly adopt new technology in product design.

Computer-Aided Design (CAD)

The use of computers to interactively design products and prepare engineering documentations.

Computer-Aided Manufacturing (CAM)

A system employed to create CNC (computer numerical control) programs for manufacturing.

Decision Tree

A decision support tool that uses a tree-like graph to visually outline potential outcomes and consequences of a complex decision.

House of Quality

A graphic technique to define the relationship between customer desires and product or service characteristics.

Value Analysis

The systematic examination of all aspects of a product or service to reduce its cost while maintaining its essential functions and quality.

Quality Function Deployment (QFD)

A method used to transform the voice of the customer into engineering characteristics for a product.

Concurrent Engineering

A method where various stages of product design and development are conducted simultaneously.

Reverse Engineering

The process of analyzing a product to understand its design and functionality, often to reproduce or improve it.

Rapid Prototyping

A group of techniques used to quickly fabricate a scale model of a physical part or assembly using three-dimensional computer aided design (CAD) data.

Design for Manufacturing (DFM)

Designing products so that they are easy and inexpensive to manufacture.

Design for Assembly (DFA)

Designing products with ease of assembly in mind.

Service Design

The activity of planning and organizing a business's resources in order to directly improve the employee's experience, and indirectly, the customer experience.

Product Lifecycle Management (PLM)

The process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products.

Computer-Integrated Manufacturing (CIM)

The manufacturing approach of using computer to control the entire production process.

Automation

The technology by which a process or procedure is performed with minimal human assistance.

Process Innovation

The implementation of a new or significantly improved production or delivery method.