Operation Management and Supply Chain Management – Flashcards
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Production
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Is the creation of goods and services using the factors of production.
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Production Management
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Describe all the activities managers do to help companies create goods.
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Operation Management
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The management of system or processes that convert or transform resources into goods and services.
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Value-added
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The term used to describe the difference between the cost of inputs and the value of price of outputs.
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Transformation process
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The actual conversion of inputs to outputs.
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Forecasting
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Estimation seat demand for flight, weather, and landing conditions and estimation for growth or reduction in air travel are all included in forecasting.
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Capacity planning
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This is key essential metric for airline to maintain cash flow and increase revenues. Underestimating or overestimating flight will hurt profit.
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Scheduling
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One of the activties Operations Management. The airline operates on tight schedule that must be maintained included flight, pilots, flight attendant, ground crews, baggage handlers, and routine maintenance.
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Managing inventory
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Inventory of such items as foods, beverages, first-aid equipment, in-flight magazines, pillow, blankets and life jackets is essential for the airline.
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Assuring Quality
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Quality is indispensable in a airline where safety is the highest priority. Today's travelers expect high-quality customer services during ticketing, check-in, curb service, and unexpected issue where the emphasis is on efficiency and courtesy.
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Motivating and training employees
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Airline employees must be highly trained and continually motivated, especially when dealing with frustrated airline travelers.
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Locating Facilities
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Key question facing airline include which cities to offer services where to host maintenance facilities, and where to locate major and minor hubs.
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Strategic Planning
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Focuses on long range planning
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Strategic Business Unit
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Consist of several stand-alone business.
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Material Requirements Planning
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Uses sales forecasts to make sure that needed parts and material are available at the right time and place.
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Tactical Planning
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Focuses on producing good and service as efficiently as possible within the strategic plan
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Global Inventory Management System
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Provides the ability to locate, track, and predict the movement of every component or material anywhere upstream or downstream in the production process.
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Operational Planning and control
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Deals with the day to day procedures for performing work including schedule, inventory, and process management.
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Cost
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One of the determinate companies can use to add value that a customer uses to make a decision. There can be only lowest-cost producer, and that firm usually establish the selling price in the market. (commodity-like products)
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Quality
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One of the determines of Competitive OM Strategy that is divided into two categories product quality and process quality.
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Supply Chain Management
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Involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability.
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Supply Chain Visibility
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The ability to view all areas up and down the supply chain.
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Bullwhip effect
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Occurs when distorted product demand information passes from one entity to the next throughout the supply chain.
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Demand planning software
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Generates demand forecasts using statistical tools and forecasting techniques.
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Supply Chain Planning software (SCP)
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Uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain.
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Supply chain execution
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Automates the difference steps and stages of the supply chain.
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Inventory Management and control system
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Provides and control and visibility to the status of individuals items maintained in inventory.
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Transportation planning systems
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Tracks and analyzes the movement of materials and products to ensure the delivery of materials and finished goods.
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Distribution Management Systems
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Coordinates the process of transporting materials from manufacturing to distribution centers to the final customer.
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Product Quality
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Levels vary as to the particular market that it aims to serve.
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Process Quality
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Products without deflects.
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Delivery
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a firms ability to provide consistent and fast delivery
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Flexibility
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a firms ability to offer a wide variety of products
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Service
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high-quality customer service adds tremendous value to an ordinary
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Supply Chain Management
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involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and profitability
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Supply Chain Strategy
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strategy for managing all resources to meet customer demand
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Supply chain partner
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partners throughout the supply chain that deliver finished products, raw materials, and services.
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Supply chain operation
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schedule for production activities
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Supply chain logistics
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product delivery process
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Supply chain visibility
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the ability to view all areas up and down the supply chain
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Bullwhip effect
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occurs when distorted product demand information passes from one entity to the next throughout the supply chain
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Demand planning software
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generates demand forecasts using statistical tools and forecasting techniques
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Supply chain planning
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uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain
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Supply chain execution
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automates the different steps and stages of the supply chain
