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20 Cards in this Set
- Front
- Back
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Operations Management
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The management of the direct resources that are required to produce and deliver an organization’s goods and services.
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Global Economy
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How the world is becoming smaller and countries are becoming more dependent on each other.
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Value Chain
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Steps an organization requires to produce a good or a service regardless of where they are performed.
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Business Strategy
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How a strategic business unit addresses the specific markets it serves and products it provides.
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Competitive Priorities
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How the operations function provides a firm with a specific competitive advantage.
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Operations Strategy
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How the operations function contributes to competitive advantage.
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Competitiveness
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Company’s position in the marketplace relative to its competition.
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Quality
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a degree or grade of excellence or worth
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Cost of Quality
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Framework for identifying quality components that are related to producing both high-quality products and low-quality products, with the goal of minimizing the total cost of quality
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TQM
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Approach for integrating quality at all levels of an organization
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Six Sigma
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A stats based, structured methodology for identifying and eliminating causes of errors in a process
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Statistical Process Control
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Statistical method for determining whether a particular process is in or out of control.
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Process Flowchart
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Show each of the steps that are required to produce either a good or a service.
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Bar Chart
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Virtually display data variation
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Cause & Effect (or Fishbone) Diagrams
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Used to identify the causes that lead to a particular outcome or effect.
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Project
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A series of related jobs usually directed towards some major output and requiring a significant period of time to perform
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Project Management
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Planning, directing, and controlling resources to meet the technical, cost, and time constraints of the project.
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Matrix Project
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Classic specialized organizational form, attempts to blend the properties of functional and pure project structures
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Critical Path
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Sequence of activities that form the longest chain in terms of their time to complete.
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Project Milestones
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Specific events to be reached at points in time.
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