Operations Management Chapter 2 (Strategy and Sustainability) – Flashcards

-evaluating the firm against economic, social and environmental criteria -People, Profit, Planet

day to day planning of what

What the company would like to achieve, how they'd like to compete, and beat their competitors -no firm excels simultaneously in all Competitive Dimensions

unique and valued skills, processes and knowledge the firm is able to actually achieve and use to satisfy customers

Cost -Low cost -High cost Quality -Consistent quality -Superior Quality Time -Delivery speed -On-time/reliable delivery Flexibility -Volume -Customization, postponement, mass customization -Variety/mix Others -Service and Support (before/after sale) -Social and environmental concerns -returns/reverse supply chains -Certifications/registrations

-Focus on one priority (Dimension) -Try to do well in more than one priority, which accepts a lesser performance versus the single focus

Characteristics causing customers to prefer you over your competitors

Characteristics you need to have to reconsidered by potential customers

Any source of unplanned disruption like severe weather, labor strikes, recalls, facility disaster, terrorism

1. Identify sources of potential disruption 2. Asses the probabilities of consequences of these events 3. Develop plants to minimize impact

value of outputs (goods or services) produced / value of all input resources outputs / all inputs

1. Reduce inputs 2. Increasing outputs 3. Combination of both

-Must be compared to be meaningful -Comparisons to other firms (Competitive Benchmarking) Operations compared to each other

value of outputs (goods or services) produced / value of a specific input outputs / specific input

value of outputs (goods or services) produced / value of some inputs outputs / some inputs