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Operations Management Chapter 1

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Terms and Definitions

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Customer Benefit Package (CBP)

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A clearly defined set of tangible (goods-content) and intangible (service-content) features that the customer recognizes, pays for, uses, or experiences.

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Durable Good

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One that does not quickly wear out and typically lasts at least three years

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Economic Sustainability

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An organization's commitment to address current business needs and economic vitality, and to have the agility and strategic management to prepare successfully for future business, markets, and operating environments

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Environmental Sustainability

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An organization's commitment to the long-term quality of our environment.

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Good

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A physical product that you can see, touch, or possibly consume.

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Moments of Truth

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Any episodes, transactions, or experiences in which a customer comes into contact with any aspect of the delivery system, however remote, and thereby has an opportunity to form an impression.

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Nondurable Good

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One that is no longer useful once it's used, or lasts for less than three years

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Operations Management (OM)

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The science and art of ensuring that goods and services are created and delivered successfully to customers.

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Peripheral Goods or Services

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Those that are not essential to the primary good or service, but enhance it.

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Primary Good or Service

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The core offering that attracts customers and responds to their basic needsPeripheral goods or services

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Process

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A sequence of activities that is intended to create a certain result.

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Service

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Any primary or complementary activity that does not directly produce a physical product

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Service Encounter

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An interaction between the customer and the service provider

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Service Management

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Integrates marketing, human resources, and operations functions to plan, create, and deliver goods and services, and their associated service encounters

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Social Sustainability

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Is an organization's commitment to maintain healthy communities and society that improve the quality of life.

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Sustainability

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Refers to an organization's ability to strategically address current business needs and successfully develop a long-term strategy that embraces opportunities and manages risk for all products, systems, supply chains, and processes to preserve resources for future generations.

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Variant

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A CBP feature that departs from the standard CBP and is normally location- or firm-specific.

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Operations Management Chapter 2

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Terms and Definitions

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Backward Integration

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Refers to acquiring capabilities toward suppliers.

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Forward Integration

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Refers to acquiring capabilities toward distribution or even customers.

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Multinational Enterprise

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An organization that sources, markets, and produces its goods and services in several countries to minimize costs, and to maximize profit, customer satisfaction, and social welfare.

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Offshoring

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The building, acquiring, or moving of process capabilities from a domestic location to another country location while maintaining ownership and control.

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Operational Structure

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The configuration of resources such as suppliers, factories, warehouses, distributors, technical support centers, engineering design and sales offices, and communication links.

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Outsourcing

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The process of having suppliers provide goods and services that were previously provided internally.

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Supply Chain

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The portion of the value chain that focuses primarily on the physical movement of goods and materials, and supporting flows of information and financial transactions through the supply, production, and distribution processes.

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Value

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The perception of the benefits associated with a good, service, or bundle of goods and services (i.e., the customer benefit package) in relation to what buyers are willing to pay for them.

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Value Chain

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A network of facilities and processes that describes the flow of materials, finished goods, services, information, and financial transactions from suppliers, through the facilities and processes that create goods and services, and those that deliver them to the customer.

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Value Chain Integration

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The process of managing information, physical goods, and services to ensure their availability at the right place, at the right time, at the right cost, at the right quantity, and with the highest attention to quality.

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Value Proposition

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A competitively dominant customer experience

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Vertical Integration

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Refers to the process of acquiring and consolidating elements of a value chain to achieve more control.

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Operations Management Chapter 3

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Terms and Definitions

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Actionable measures

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Provide the basis for decisions at the level at which they are applied

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Customer--Satisfaction Measurement System

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Provides a company with customer ratings of specific goods and service features and indicates the relationship between those ratings and the customer's likely future buying behavior

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Flexibility

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The ability to adapt quickly and effectively to changing requirements

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Goods and service design flexibility

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The ability to develop a wide range of customized goods or services to meet different or changing customer needs.

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Goods quality

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Relates to the physical performance and characteristics of a good

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Innovation

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Refers to the ability to create new and unique goods and services that delight customers and create competitive advantage.

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Interlinking

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The quantitative modeling of cause-and-effect relationships between external and internal performance criteria

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Learning

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Refers to creating, acquiring, and transferring knowledge, and modifying the behavior of employees in response to internal and external change.

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Measurement

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The act of quantifying the performance of organizational units, goods and services, processes, people, and other business activities

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Processing time

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The time it takes to perform some task.

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Productivity

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The ratio of output of a process to the input.

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Quality

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Measures the degree to which the output of a process meets customer requirements.

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Queue time

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A fancy word for wait time-the time spent waiting.

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Service quality

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Is consistently meeting or exceeding customer expectations (external focus) and service delivery system performance (internal focus) for all service encounters.

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Service Upsets/Service Failures

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Errors in service creation and delivery

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Triple Bottom Line (TBL or 3BL)

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Refers to the measurement of environmental, social, and economic sustainability

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Value of a Loyal Customer (VLC)

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Quantifies the total revenue or profit each target market customer generates over the buyer's life cycle.

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Volume flexibility

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The ability to respond quickly to changes in the volume and type of demand.

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Operations Management Chapter 4

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Terms and Definitions Comming Soon:

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