2- Management Lesson 11 - Chapter 22

Front 1

The heart of the organization's production of its product or service.

Back 1

technical core

Front 2

The field of management that focuses on the physical production of goods or services and uses specialized techniques for solving manufacturing problems.

Back 2

operations management

Front 3

An organization that produces physical goods.

Back 3

manufacturing organization

Front 4

An organization that produces nonphysical outputs that require customer involvement and cannot be stored in inventory.

Back 4

service organization

Front 5

The recognition of the importance of operations to the firm's success and the involvement of operations managers in the organization's strategic planning.

Back 5

operations strategy

Front 6

Managing the sequence of suppliers and purchasers, covering all stages of processing from obtaining raw materials to distributing finished goods to final consumers.

Back 6

supply chain management

Front 7

Purchasing supplies, services, and raw materials for use in the production process.

Back 7

procurement

Front 8

A facilities layout in which machines that perform the same function are grouped together in one location.

Back 8

process layout

Front 9

A facilities layout in which machines and tasks are arranged according to the sequence of steps in the production of a single product.

Back 9

product layout

Front 10

A facilities layout in which machines dedicated to sequences of production are grouped into cells in accordance with group-technology principles.

Back 10

cellular layout

Front 11

A facilities layout in which the product remains in one location and the required tasks and equipment are brought to it.

Back 11

fixed-position layout

Front 12

A small- or medium-sized automated production line that can be adapted to produce more than one product line.

Back 12

flexible manufacturing system

Front 13

A production technology in which computers perform new-product design.

Back 13

CAD

Front 14

A production technology in which computers help guide and control the manufacturing system.

Back 14

CAM

Front 15

The determination and adjustment of the organization's ability to produce products and services to match customer demand.

Back 15

capacity planning

Front 16

The goods that the organization keeps on hand for use in the production process up to the point of selling the final products to customers.

Back 16

inventory

Front 17

Inventory consisting of items that have passed through the complete production process but have yet to be sold.

Back 17

finished-goods inventory

Front 18

Inventory composed of the materials that still are moving through the stages of the production process.

Back 18

work-in-process inventory

Front 19

Inventory consisting of the basic inputs to the organization's production process.

Back 19

raw materials inventory

Front 20

An inventory management technique designed to minimize the total of ordering and holding costs for inventory items.

Back 20

economic order quantity (EOQ)

Front 21

The most economical level at which an inventory item should be reordered.

Back 21

reorder point (ROP)

Front 22

Inventory in which item demand is related to the demand for other inventory items.

Back 22

dependent demand inventory

Front 23

A dependent demand inventory planning and control system that schedules the precise amount of all materials required to support the production of desired end products.

Back 23

material requirements planning (MRP)

Front 24

An inventory control system that schedules materials to arrive precisely when they are needed on a production line.

Back 24

just-in-time (JIT) inventory system


AKA: Stockless system, Zero inventory systems, Kanban systems

Front 25

The activities required to physically move materials into the company's operations facility and to move finished products to customers.

Back 25

logistics

Front 26

Moving finished products to customers

Back 26

distribution

or Order fulfillment

Front 27

The organization's output of products and services divided by its inputs.

Back 27

productivity

Front 28

The ratio of total outputs to the inputs from labor, capital, materials, and energy.

Back 28

total factor productivity

Front 29

The ratio of total outputs to the inputs from a single major input category.

Back 29

partial productivity

Front 30

types of productivity?

Back 30

1) Technological Productivity
2) Worker productivity
3) Managerial Productivity

Front 31

TFP formula

TFP =

Back 31

output
-----------------------------------------
Materials+ Energy + Labor + Capital

Front 32

Partial Productivity

Labor Productivity =

Back 32

output
-------------------------
Labor Dollars

Front 33

Sectors of Inventory management:

Back 33

1) Logistics and distribution management
2) Economic order quantity (EOQ)
3) The Importance of inventory
4) Materials Requirements Planning
5) Just in time Inventory

Front 34

Economic order quantity (EOQ) formula

Back 34

EOQ = √(2DC/H)

Front 35

Re-order Point (ROP) formula

Back 35

ROP = {D / time} ( Lead time)

Front 36

A few extra items of the inventory that are used to ensure that the company does not run out of needed items

Back 36

safety stock

Front 37

Designing Operations management systems

Back 37

1) Product and service design
2) Procurement
3) Facilities Layout
4) Facility Location
5) Technology Automation
6) Capacity planning

Front 38

Design for manafacturability and assembly:

Back 38

1) Producibility
2) Cost
3) Quality
4) Reliability
- Also Timing

Front 39

Stages of Operation Strategy

Back 39

1) No Involvement
2) Industry current
3) Organizational Supportive
4) Competitive advantage

Front 40

are the costs associated with actually placing the order, such as postage, receiving, and inspection

Back 40

Ordering costs

Front 41

are the costs associated with keeping the item on hand, such as storage spaces charges, finance charges, and material handling expenses

Back 41

holding costs