Operations Management Flashcards

Flashcards about Operations Management

What is Division of Labour?

Breaking down work into smaller tasks to increase worker efficiency.

What was the Industrial Revolution?

Using machines in factories to produce goods, leading to faster and cheaper production.

What are Interchangeable Parts?

Making parts that can be used in any product of the same type, simplifying repair and enabling mass production.

What is Scientific Management?

Studying work processes to find the most efficient way to perform tasks using time and motion studies.

What is the Quality Revolution/Total Quality Management (TQM)?

An approach introduced by Japanese companies like Toyota, emphasizing high-quality products and customer satisfaction.

What are Technological Advancements in Operations Management?

Using computers and technologies like just-in-time production and ERP systems to improve resource management and reduce waste.

What is Business Process Re-engineering?

Redesigning business processes to improve efficiency and collaboration between departments.

What is the Balanced Scorecard?

Measuring company performance using financial and non-financial factors like customer satisfaction and internal processes.

What is Business Intelligence?

Using software to analyze data, understand trends, predict customer needs, and improve operations.

What are Inputs in the Transformation Process?

The resources needed to create a product or service, including transformed and transforming resources.