Bus Man Unit 3 - AOS 3: Operations Management

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39 Terms

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Operations Management

Involves coordinating and organising activities involved in producing the goods/services a business sells to customers

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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.

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Inputs

Resources used by a business to produce goods/services (all business require them)

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Processes

Actions performed by a business to transform inputs into outputs

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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

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Manufacturing Businesses

Use their operations system to produce physical goods (tangible)

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Service Businesses

Utilise operations to produce intangible products and are provided by individuals with specialised expertise

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Technological Strategies

Technological developments allow for tasks to be completed with levels of precision/speed, unmatched by human labour

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Automated Production Lines

Involve machinery and equipment that are arranged in a sequence - product is developed as it proceeds through each step

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Robotics

Programmable machines capable of performing specified tasks

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Computer Aided Design

Digital design software that aids the creation, modification and optimisation of a design process

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Computer Aided Manufacturing

Involves use of software that controls and directs production processes through coordinating machinery/equipment through computers

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Reactive

Responding to a situation after something has occurred

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Proactive

Performing actions to prevent problems before they occur

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Artificial Intelligence

Involves using computerised systems to simulate human intelligence and mimic human behaviour

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Online Services

Services provided via the internet

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Materials Strategies

Involves organising and monitoring the delivery, storage, and use of materials required for production

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Forecasting

Materials planning tool that predicts customer demand for an upcoming period using past data and market trends

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Master Production Schedule

Plan that outlines what a business intends to produce, in specific quantities, within a set period of time

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Materials Requirement Planning

Process that itemises the types and quantities of materials required to meet production targets set out in MPS

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Quality

Goods/service’s ability to satisfy a customer’s needs - measure by reliability, durability, delivery time, consistency

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Quality Assurance

Involves business achieving certified standard of quality in its products after an independent body assesses its operations system

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Total Quality Management

Holistic approach whereby all employees are committed to continuously improving the operations system to enhance quality for customers

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Quality Circles

Small groups of employees who meet to discuss and create solutions to problems relating to quality

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Waste Minimisation

Process of reducing amount of unused material, time and labour

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Reduce

Waste minimisation strategy that aims to decrease the amount of resources, labour or time discarded during production

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Reuse

Make use of items - promoted optimal use of resources, increases amount of outputs produced without purchasing additional inputs (lower business costs)

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Recycle

Waste minimisation strategy that aims to transform items which otherwise would’ve been discarded

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Corporate Social Responsibility

Organisations go above their legal obligations to display a commitment to the economy, community and environment

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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

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Input CSR

Sourcing inputs locally, rather than from overseas suppliers

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Process CSR

Precise/consistent technology reduces defects

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Outputs

Developing an alternative product that’s more environmentally friendly than a current product

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Pull

Strategy that involves customers determining the number of products a business should produce

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One Piece Flow

Involves processing a product individually through the production stage and passing to the next stage of production before processing the next

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Taxt

Involves synchronising the steps of a business’s operations system to meet customer demand

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Global Sourcing Of Inputs

Involves business acquiring raw materials and resources from overseas suppliers

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Overseas Manufacture

Involves a business producing goods outside of the country its headquarters are located

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Global Outsourcing

Involves transferring specific business activities to an external business in an overseas country