International Production and Operations Management

These flashcards cover essential vocabulary and concepts related to International Production and Operations Management, preparing students for the midterm exam.

Demand Generation

The process responsible for creating demand for a product or service.

Supply Chain Management

Integrating capacity needs, personnel levels, technology, and inventory to determine the efficient flow of materials, people, and information.

Ethics in the Workplace

An important aspect of the quality focus paradigm.

Back-office Processes

Processes that include materials and information management without direct customer interaction.

Productivity Measurement

Ratios that determine the efficiency of an investment, such as Economic or Financial measures.

Trade Agreements

Agreements aimed at improving supply chains and reducing costs between companies or countries.

Competing on Differentiation

A strategy exemplified by chains like Starbucks or Hard Rock Cafe, focusing on unique value propositions.

Product Life Cycle

Stages that a product goes through, including introduction, growth, maturity, and decline.

SWOT Analysis

A framework assessing internal strengths and weaknesses against external opportunities and threats.

Global Strategy

A strategy represented by companies like Coca-Cola and Nestlé, focusing on a unified approach across markets.

Cloud Platforms

Web-based services like Google Drive that enable collaborative project management.

PERT and CPM

Network-based project management techniques with origins in the 1950s that consider precedence relationships.

Critical Path Analysis

A method used to determine the longest path through a project network, impacting total project completion time.

CPM Assumptions

Critical Path Method assumes fixed time estimates for activities and does not accommodate variability.

Limitations of CPM and PERT

These methods require clearly defined, independent, and stable project activities.

Forecasting Product Development

The best prediction of new product impacts is accomplished through technological forecasts.

Appointment Prediction

The process of forecasting significant appointments in networks using methods like Delphi.

Time Series Approach

Statistical techniques like linear regression, not including naive methodologies.

Forecast Accuracy Measurement

Determining how well predictions align with actual targets using Mean Absolute Deviation (MAD) or similar metrics.

Competitive Knowledge Assessment

Using methods like Jury of executive opinion to evaluate knowledge gained about market competitors.