Operations Management Flashcards

Flashcards about Operations Management.

What is production?

The creation of goods.

What is Operations/Process management?

Activities that adds value in the form of goods and services by transforming inputs into outputs.

What is the objective of Operations Management (OM)?

To add value during the transformation process.

What is cost in competitive dimensions?

Providing low-cost products/services.

What is quality in competitive dimensions?

Providing high-quality products/services.

What is speed in competitive dimensions?

Fast products/services delivery. Quick response to customers.

What is flexibility in competitive dimensions?

Providing a wide variety of products/services. Ability to respond to changes.

What should priorities be determined by?

Determined by your performance in each of competitive objectives and the importance of each competitive objective.

What is the meaning of 1 in the 9-Point Importance Scale?

Provide a crucial advantage with customers.

What is the meaning of 2 in the 9-Point Importance Scale?

Provide an important advantage with most customers.

What is provided as a crucial advantage with customers?

Order winning objectives.

What needs to be up to good industry standard?

Qualifying objectives.

What is very rarely rated as being important?

Less important objectives.

What is the meaning of 1 in the 9-Point Performance Scale?

Consistently considerably better than our nearest competitor.

What is the meaning of 4 in the 9-Point Performance Scale?

Often marginally better than most competitors.

What is consistently clearly better than our nearest competitor?

Better than competitors.

What is about the same as most competitors?

Same as competitors.

What is usually worse than most competitors?

Worse than competitors.

What are Apple Inc.'s four OM activities?

Product and Service Design, Process and Layout Design, Quality Management and Control, and Inventory Management.

What is involved in Apple Inc.'s Product and Service Design?

Continuous breakthrough, rapid time to market (TTM), and customer-focused design and development.

What is the design of Apple Inc.'s Process and Layout?

Simple and intuitive store design, logically split store layout, and plenty of space for experiencing products and services.

What is Apple Inc's Quality Management and Control?

Advanced and improved product functionalities, extensive product training and workshops.

What is included in the Inventory Management of Apple?

Shifting sales to Apple Website and online iTunes store and outsourcing operations.

What are key operations/processes activities?

Product and service design, quality management and control, location decisions, process and layout design, forecasting, inventory management, aggregate production planning, material requirements planning, and project management.

What decisions are made in product and service design?

What products or services should we offer? How should we design products and services? How can products and services be improved?

What decisions are made in quality management and control & facility location?

Are the processes performing adequately? How do we monitor and measure process quality? How do we improve process quality? Where should we put the facility? On what criteria should we base this location decision?

What decisions are made within Process and layout design?

How should we arrange the facility in order to maximize the efficiency?

What decisions are made within Forecasting and Inventory management introduction?

Which forecasting technique should be used? How much products or services will be required?

What decisions are made in Inventory management and Lean Operation?

How much inventory of each item should we have? When do we re-order? Which items should get the most attention?

What decisions are made during Aggregate production planning and Material requirements planning?

How much quantity of production is required? When should we produce in order to meet forecasted demand?