TECHNO Prefinals

operations management

is the administration of business practices to create the highest degree of efficiency possible within an enterprise

capacity planning

• a responsibility of operations management, involves evaluating the number of products or services a business can sell or distribute in a given time frame

product design and service design

• a responsibility of operations management

• to ensure that customer requirements and expectations are met, new concepts are generated, and a service or product is developed

• involves a product’s cost-effectiveness and meeting customer requirements

quality control

• a responsibility of operations management, involves checking for potential problems or errors in services or products at every stage of the production process or during service operations

process improvement and optimization

• a responsibility of operations management, involves evaluating the steps in a process, either completely rewriting it or rearranging the steps to work best

supply chain management

• a responsibility of operations management, involves controlling the sourcing of supplies, the production process, inventory management, sales, and distribution at reasonable rates

facilities management

• is under the umbrella of operations management

• integrates people, places, and processes so that the productivity of operations will be above par

hard services

• a category of facilities management, any physical alterations and adjustments in the building or its structure

soft services

• a category of facilities management, responsible for making the workplace bearable and comfortable

facility location

involves learning a geographic site for an enterprise’s operations

tangible factors

include delivery or freight rates, production costs, local government tax cuts, and production costs

non-tangible factors

include the location’s security, quality of work, and culture

proximity to the market

• a controllable factor, every business is expected to deliver its goods and services to its customers promptly

• situate itself close to its market

supply of materials

• a controllable factor, the enterprise must acquire raw materials in the right qualities, quantities, and the time to produce uninterrupted

• important if the materials are perishable and the cost of transpo is high

transportation facilities

• a controllable factor, quick transport facilities ensure a timely supply of raw materials to the business and finished goods to the customers

• a prerequisite for the location of the plant

infrastructure available

• a controllable factor, businesses dependent on energy should be close to power stations, businesses that rely on technology should be near communication companies

labor wages and the laws that govern it

• a controllable factor, an enterprise should always be aware of its workers’ rights and the tax laws where the business is located

government policies

• a non-controllable factor, policies concerning labor, laws, building codes, safety, taxes, and other factors

• every enterprise should know these to avoid administrative and criminal liability

climate and environmental conditions

• a non-controllable factor, business must know its location’s geology, climate, and environmental conditions

• can significantly affect the delivery of services and products to customers

supporting industries

• a non-controllable factor, businesses must have a good relationship with their suppliers since they can make or break an enterprise

open office design

• a workplace layout, some touching each other and others clustered in work zones of varying sizes

• everyone sits together, allowing for open discussion throughout the open area

cellular office design

• a workplace layout, the entire office space is divided into individual spaces or cubicles, so employees can each have private areas

co-working office design

• a workplace layout, popular with workers without a designated workspace

• desks can be assigned to workers based on their jobs

combination office design

• a workplace layout, adaptable and might be the best choice to incorporate open and mobile work options

• can design individual cubicles that incorporate smaller spaces

manufacturing layout

depends on the total size of the equipment, products, and employees they use

product or line layout

• under manufacturing layout, only a single product type is created in an operating area

process or functional layour

• under manufacturing layout, helpful if there is a low production need

• machinery and equipment are positioned according to the nature or type of operations

fixed position layout

• under manufacturing layout, major components of a product remains in a fixed position

• raw materials and workers are brought to where the products are being built

combination type of layout

• under manufacturing layout, utilizes combination of other layouts

• is possible when an item being made has different types and sizes

virtual office

• used by start-up technopreneurs, considers an expansion in efficiency, decrease in driving expenses, and greater adaptability

set up a phone system and office address

in setting up a virtual office, this is step 1

acquire a domain name and e-mail address

in setting up a virtual office, this is step 2

adopt the right tools and equipment

in setting up a virtual office, this is step 3

set up collaboration and communication tools

in setting up a virtual office, this is step 4

estavlish the organizational rules and regulations

in setting up a virtual office, this is step 5

5s

• an idea of sakichi toyoda, his son kiichiro, and a toyota engineer taiichi ohno

• a methodology in all plants of toyota worldwide after WWII

total production system (TPS)

the 5s was also called as ___

seiri

• the first S in 5s

• means sorting in english

• tells the employee to organize the important tools and materials they need for their work and to discard the ones they don’t need

seiton

• the second S in 5s

• means set in order in english

• tells the worker to arrange their tools and materials so that few movements will be needed to locate them when they need to use them

seiso

• the third S in 5s

• means cleanliness or shine in english

• emphasizes that cleaning the workplace should be a daily habit

seiketsu

• the fourth S in 5s

• means standardized in english

• teaches the employee their role in maintaining and following the first three S of the 5s system

• assigning employees regular tasks, schedules, and instructions

shitsuke

• the first S in 5s

• means discipline or sustain in english

• teaches the employee that the 5s method is an ongoing process and a continuing responsibility

business model canvas

• also called a “business management canvas”

• a plan that outlines a company’s financial goals

• explains who you customer base is, how a business provides value to them, and the specifics of financing that go along with it

customer segment

• a component of the business model canvas

• various group of people or organizations that an enterprise aims to reach and serve

customer relationship

• a component of the business model canvas

• can be personal or automated, transactional or long-term and the goal can be to get new customers, keep existing ones, or increase sales

channels

• a component of the business model canvas

• are ways a company reaches out to specific customer groups

• situated in BMC between cust. segments and value propositions

revenue streams

• a component of the business model canvas

• crucial and should align with the business model’s cost structure

• profit/loss of the business is the difference between the cost and the revenue streams

• verifies profitability

key activities

• a component of the business model canvas

• must take these most crucial actions to run smoothly

• are needed to reach markets, maintain customer relationships, create value proposition, generate revenue, just like key resources

key resources

• a component of the business model canvas

• necessary for each business model

• helps company to reach markets, maintain relationships with customer segments, and generate revenue

key partners

• a component of the business model canvas

• are relationships a business has with other people or organizations that make a business model work

cost structure

• a component of the business model canvas

• helps determine how to focus on innovation and develop a value proposition

value proposition

• a component of the business model canvas

• customers choose a business over others because of this, which meets their needs or solves the customer’s problems

• set of products/services designed to meet the needs of a particular customer segment