operations management concepts – Flashcards
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History of OM
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Operations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services.
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value chains
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the process by which a company adds value to an article, including production, marketing, and the provision of after-sales service.
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integration
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new work processes which has been facilitated by new information and communication technology.
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performance management
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promote and improve employee effectiveness. It is a continuous process where managers and employees work together to plan, monitor and review an employee's work objectives or goals and his or her overall contribution to the organization.
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operation strategy
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methods companies use to reach their objectives. By developing operational strategies, a company can examine and implement effective and efficient systems for using resources, personnel and the work process.
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design
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can constrain the freedom of product and service designers to operate as they would wish.
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house of quality
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diagram, whose structure resembles that of a house, which aids in determining how a product is living up to customer needs.
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serviscape
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emphasize the impact of the physical environment in which a service process takes place. The concept of servicescape can help assess the difference in customer experience between a fast-food franchise restaurant and a small, family-run restaurant.
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capacity analysis
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Evaluation of a factory, production process or line, or machine, to determine its maximum output rate
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process choice
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The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical, contemporary measures of performance such as cost, quality, service and speed.
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manufacturing strategy
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A pattern of decisions affecting the key elements of a manufacturing system
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facility layout
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an arrangement of different aspects of manufacturing in an appropriate manner as to achieve desired production results. Facility layout considers available space, final product, safety of users and facility and convenience of operations.
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work design
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a core function of human resource management and it is related to the specification of contents, methods and relationship of jobs in order to satisfy technological and organizational requirements as well as the social and personal requirements of the job holder.
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supply chain strategy
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an iterative process that evaluates the cost- benefit trade-offs of operational components.
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supply chain concepts
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For most organizations, logistics controls the distribution of products; whereas supply management controls the strategic sourcing of direct materials, finished goods, services, capital equipment, and indirect materials. Both are needed to ensure optimal performance of the supply chain.
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outsourcing
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obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source.
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capacity management
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a process used to manage information technology (IT). Its primary goal is to ensure that IT resources are right-sized to meet current and future business requirements in a cost-effective manner. One common interpretation of capacity management is described in the ITIL framework.
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costs of inventory
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The cost of inventory includes all costs associated with holding or storing inventory for sale. These costs include the opportunity cost of the money used to purchase the inventory, the space in which the inventory is stored, the cost of transportation or handling, and the cost of deterioration and obsolescence.
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resource management
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the efficient and effective deployment and allocation of an organization's resources when and where they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology.
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scheduling
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the process of arranging, controlling and optimizing work and workloads in a production process or manufacturing process. Scheduling is used to allocate plant and machinery resources, plan human resources, plan production processes and purchase materials.
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queuing theory
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the mathematical study of waiting lines, or queues. In queueing theory, a model is constructed so that queue lengths and waiting time can be predicted.
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costs of quality
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In process improvement efforts, quality costs or cost of quality is a means to quantify the total cost of quality-related efforts and deficiencies.
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quality charts
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A graphic that depicts whether sampled products or processes are meeting their intended specifications and, if not, the degree by which they vary from those specifications. Analyzing the pattern of variance depicted by a quality control chart can help determine if defects are occurring randomly or systematically.
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quality tools
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seven tools of quality Devices used in understanding and improving production processes. 1: Cause and effect diagram 2: Check sheet data recording table (matrix)3: Control chart 4: Flowchart visual representation of relationship between planned performance and actual performance over a period. Tool 5: Histogram graph 6: Pareto chart 7: Scatter chart graph
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TQM
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describes a management approach to long-term success through customer satisfaction. In a TQM effort, all members of an organization participate in improving processes, products, services, and the culture in which they work.
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six sigma
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a disciplined, data-driven approach and methodology for eliminating defects in any process - from manufacturing to transactional and from product to service.
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lean principles
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The ultimate goal is to provide perfect value to the customer through a perfect value creation process that has zero waste.
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lean waste
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Defects, Overproduction, Inventories awaiting further processing or consumption, Unnecessary extra processing,Unnecessary motion of employees, Unnecessary transport and handling of goods, Waiting
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lean tools
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help eliminate waste
