ISOM 351 CH 1 Using Operations to Compete – Flashcards
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operations management
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the systematic design, direction, and control of processes that transform inputs into services and products for internal, as well as external customers
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operation
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a group of resources performing all or part of one or more processes
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supply chain
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the interrelated series of processes within a firm an across different firms that produce a service or product to the satisfaction of customers
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process
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any activity or group of activities that takes one or more inputs, transforms them, and produces one or more outputs; adds value
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supply chain management
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the synchronization of a firm's processes with those of its suppliers and customers to match the flow of materials and services with customer demand
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COO
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chief operations officer
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three mainline functions of any business
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1) operations 2) marketing 3) finance ; cyclical relation
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external customer
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a buyer who is either the end user or an intermediary; buys a finished service or product
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internal customer
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one or more employees or processes that rely on inputs from other employees or processes in order to perform their work
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external supplier
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the business or individuals that provide the resources, services, products, and materials for the firm's short-term and long-term needs
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internal supplier
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the employees or processes that supply important information or materials to a firm's processes
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nested process
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the concept of a process within a process
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two major types of processes
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1) manufacturing 2) service
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core process
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a set of activities that delivers value to external customers
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supplier relationship process
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a process that selects the suppliers of services, materials, and info and facilitates the timely and efficient flow of these items into the firm
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new service/product development process
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a process that designs and develops new services or products from inputs received from external customer specifications or from the market in general through the customer relationship process
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customer relationship process
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a process that identifies, attracts, and builds relationships with external customers, and facilitates the placement of orders by customers
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order fulfillment process
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a process that includes the activities required to produce and deliver the service or product to the external customer
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support process
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a process that provides vital resources and inputs to the core processes and therefore is essential to the management of a business
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operations strategy
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the means by which operations implements the firm's corporate strategy and helps to build a customer-driven firm
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core competencies
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the unique resources and strengths that an organization's management considers when formulating a strategy
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lead time
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the elapsed time between the receipt of a customer order and filling it
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market segmentation
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the process of identifying groups of customers with enough in common to warrant the design and provision of services or products that the group wants and needs
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competitive priorities
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the critical dimensions that a process or supply chain must possess to satisfy its internal or external customers
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competitive capabilities
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the cost, quality, time, and flexibility dimensions that a process or supply chain actually possesses and is able to deliver
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time-based competition
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a strategy that focuses on the competitive priorities of delivery speed and development speed
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order winner
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a criterion customers use to differentiate the services or products from one firm to those of another
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order qualifier
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minimal level required from a set of criteria for a firm to do business in a particular market segment
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productivity
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=output/input;
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multifactor productivity
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= value of output/(labor cost + materials cost + overhead cost); an index of the output provided by more than one of the resources used in production
