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Operations Management
Involves coordinating and organising activities involved in producing the goods/services a business sells to customers
Relationship B/w Operations + Meeting Business Objectives
Operations managers can contribute to the achievement of business objectives by ensuring efficient processes, optimizing resources, and delivering quality products/services to customers.
Inputs
Resources used by a business to produce goods/services (all business require them)
Processes
Actions performed by a business to transform inputs into outputs
Outputs
The final goods or services produced by a business as a result of a business’s operations system, that are delivered or provided to customers
Manufacturing Businesses
Use their operations system to produce physical goods (tangible)
Service Businesses
Utilise operations to produce intangible products and are provided by individuals with specialised expertise
Technological Strategies
Technological developments allow for tasks to be completed with levels of precision/speed, unmatched by human labour
Automated Production Lines
Involve machinery and equipment that are arranged in a sequence - product is developed as it proceeds through each step
Robotics
Programmable machines capable of performing specified tasks
Computer Aided Design
Digital design software that aids the creation, modification and optimisation of a design process
Computer Aided Manufacturing
Involves use of software that controls and directs production processes through coordinating machinery/equipment through computers
Reactive
Responding to a situation after something has occurred
Proactive
Performing actions to prevent problems before they occur
Artificial Intelligence
Involves using computerised systems to simulate human intelligence and mimic human behaviour
Online Services
Services provided via the internet
Materials Strategies
Involves organising and monitoring the delivery, storage, and use of materials required for production
Forecasting
Materials planning tool that predicts customer demand for an upcoming period using past data and market trends
Master Production Schedule
Plan that outlines what a business intends to produce, in specific quantities, within a set period of time
Materials Requirement Planning
Process that itemises the types and quantities of materials required to meet production targets set out in MPS
Quality
Goods/service’s ability to satisfy a customer’s needs - measure by reliability, durability, delivery time, consistency
Quality Assurance
Involves business achieving certified standard of quality in its products after an independent body assesses its operations system
Total Quality Management
Holistic approach whereby all employees are committed to continuously improving the operations system to enhance quality for customers
Quality Circles
Small groups of employees who meet to discuss and create solutions to problems relating to quality
Waste Minimisation
Process of reducing amount of unused material, time and labour
Reduce
Waste minimisation strategy that aims to decrease the amount of resources, labour or time discarded during production
Reuse
Make use of items - promoted optimal use of resources, increases amount of outputs produced without purchasing additional inputs (lower business costs)
Recycle
Waste minimisation strategy that aims to transform items which otherwise would’ve been discarded
Corporate Social Responsibility
Organisations go above their legal obligations to display a commitment to the economy, community and environment
Zero Defects
Involves business preventing errors from occurring in the operations system by ensuring there is an ongoing attitude of maintaining a high standard of quality for the final output
Input CSR
Sourcing inputs locally, rather than from overseas suppliers
Process CSR
Precise/consistent technology reduces defects
Outputs
Developing an alternative product that’s more environmentally friendly than a current product
Pull
Strategy that involves customers determining the number of products a business should produce
One Piece Flow
Involves processing a product individually through the production stage and passing to the next stage of production before processing the next
Taxt
Involves synchronising the steps of a business’s operations system to meet customer demand
Global Sourcing Of Inputs
Involves business acquiring raw materials and resources from overseas suppliers
Overseas Manufacture
Involves a business producing goods outside of the country its headquarters are located
Global Outsourcing
Involves transferring specific business activities to an external business in an overseas country