Operations Strategy

Exam 1

Operations Management

A main functional concern of most organizations that focuses on planning, organizing, directing, and controlling production processes.

Role of Operations Manager

Key responsibilities include planning, decision-making, and overseeing operations within an organization.

Production Systems Classification

Different methods of categorizing production systems used for managing operations.

System Design vs. System Operation

System design pertains to how the system is structured, while system operation refers to the functioning of the system.

Characteristics of Production Systems

Key traits that define the efficiency, effectiveness, and structure of production processes.

Contemporary Issues in Operations Management

Current challenges and trends affecting operations management practices.

Managerial Operations

Involves the planning, staffing, and managing functions within an organization.

Historical Evolution of Operations Management

The development and changes in practices and theories of operations management over time.

Manufacturing vs. Service Operations

Manufacturing involves producing tangible goods, while service operations focus on providing intangible services.

Supply Chain Management

The coordination and management of a complex network of activities involved in delivering products and services.

Business Competitions

Various strategies organizations use to compete such as cost leadership, differentiation, and focus.

Reasons for Business Failure

Several factors that lead to the downfall of business organizations, including poor management and lack of market demand.

Mission and Strategy

Mission defines the purpose of an organization while strategy outlines how to achieve goals.

Linking Organization and Operations Strategy

The importance of ensuring that the organization's overall strategy is aligned with its operations strategy.

Productivity

A measure of efficiency in producing goods and services, crucial for economic growth.

Factors Affecting Productivity

Elements that influence how effectively an organization can produce outcomes.

Basic Forecasting Features

Common characteristics associated with all types of forecasts.

Forecasting Process Steps

Key stages involved in developing accurate forecasts.

Qualitative Forecasting Techniques

Methods used for forecasting that rely on subjective judgment rather than numerical data.

Exponential Smoothing

A forecasting technique that applies decreasing weights to older data points, emphasizing more recent observations.

House of Quality

A structured method for translating customer requirements into technical features in product development.

3 R’s in Sustainability

Reduce, Reuse, and Recycle; principles aimed at minimizing environmental impact.

Quality Function Deployment (QFD)

A method for ensuring voice of the customer is incorporated into product design and development.

Modular Design

A design approach that breaks products or services into smaller sections, allowing for easier management and improvement.

Concurrent Engineering

A method that integrates design and manufacturing to improve efficiency and product development timelines.

Service Design Characteristics

Traits that define effective service systems, such as capacity planning and customer interaction.

Legal and Ethical Considerations in Design

Important factors regarding laws and ethical standards that impact product and service development.

Reverse Engineering

The process of deconstructing a competitor's product to understand its design and functionality.