Introduction to Operations Management and Supply Chain Management

These flashcards cover key vocabulary terms and definitions found in the lecture notes on Operations Management and Supply Chain Management.

Operations Management

The management of systems or processes that create goods and/or services.

Supply Chain

A sequence of activities and organizations involved in producing and delivering a good or service.

Goods

Physical items that include raw materials, parts, subassemblies, and final products.

Services

Activities that provide some combination of time, location, form, or psychological value.

Feedback

Measurements taken at various points in the transformation process to evaluate performance.

Control

The comparison of feedback against previously established standards to determine if corrective action is needed.

Process

1+ actions that transform inputs into outputs.

Degree of customer contact

A key factor distinguishing between manufacturing and service operations.

Human Relations Movement

Emphasized the importance of the human element in job design.

Mission Statement

States the purpose of the organization and answers the question of 'what business are we in?'.

Competitiveness

How effectively an organization meets the wants and needs of customers relative to others offering similar goods or services.

Productivity

A measure of the effective use of resources, usually expressed as the ratio of output to input.

Inventory Management

The process of overseeing and controlling the ordering, storage, and use of components that a company uses in production.

Model

An abstraction of reality; a simplification of something to facilitate understanding.

Pareto Phenomenon

A few factors account for a high percentage of the occurrence of some events.

Robust Design

A design that results in products or services that can function over a broad range of conditions.

Quality Function Deployment (QFD)

A structured approach that integrates the 'voice of the customer' into product and service development.

Capacity Cushion

Extra capacity used to offset demand uncertainty.

Process Layout

Designed to process items or provide services that involve a variety of processing requirements.