Operations Management Midterm (BA 357) – 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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Process
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Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers.
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Operation
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A group of resources performing all or part of one or more.
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Supply Chain
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An interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers.
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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, services, and information with customer demand.
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External Customers
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A customer who is either an end user or an intermediary (e.g., manufacturers, financial institutions, or retailers) buying the firm's finished services or products.
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Internal Customers
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One or more employees or processes that rely on inputs from other employees or processes to perform their work.
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External Suppliers
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The businesses or individuals who provide the resources, services, products, and materials for the firm's short-term and long-term.
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Internal Suppliers
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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.
