Operations Management Lecture Review

These flashcards cover key concepts from the operations management lecture to assist with exam preparation.

What is the main focus of Operations Management (OM)?

OM is all about creating value by transforming inputs.

What is the difference between products and services in operations?

Products are tangible items that can be created, stored, and inventoried. They typically require manufacturing processes and can be returned after purchase. Services, on the other hand, are intangible offerings that cannot be owned or stored; they are produced and consumed simultaneously. Services involve direct interaction between service providers and customers, and their quality is often influenced by factors such as customer experience and provider expertise.

What can be used to compare two operations?

The 4Vs can be used to compare two operations.

How many performance objectives do operations have?

Operations have 5 performance objectives with internal/external effects.

What are discrete quantities in the context of operations management?

Discrete quantities are unit countable, such as 1, 2, 3, 4, etc.

What is the significance of 'customer role' in services?

The customer plays a crucial role in value creation.

In the product-process matrix, what does high variety and low volume indicate?

It indicates a diverse or intermittent manufacturing process.

What type of operation did the water company case study demonstrate?

The case study involved a decision to eliminate supervisor assessments and use less skilled installation staff.

What are the differences between front-office and back-office operations?

Front office has high customer visibility while back office has low customer visibility.

What is Business Process Reengineering (BPR)?

BPR is a method to analyze and redesign workflows to optimize processes.

What does Little's Law state in operations management?

Little's Law states that average number of items in a system is equal to the average rate at which they leave the system multiplied by the average time they spend in the system.

What is the relationship between Cycle Time and Lead Time?

Lead Time is the time from order creation to delivery, while Cycle Time is the time to complete a specific task.

How does changing the layout of a process affect performance?

Layout and appearance affect flow, interaction, staff and customer experience, which all influence operations performance.