Management

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Operationsmanagement (OM)

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– the development and administration of the activitiesinvolved in transforming resources into goods and services

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Inputs

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– resources such as labor, money, materials, information, orenergy that are transformed by a process to become an output

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Outputs

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– the amount of goods, services, or ideas produced by amachine, factory, company, or an individual in a period

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Manufacturing

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– the activities and processes used in making tangibleproducts; used interchangeably with the term production

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Production

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– the activities and processes used in making tangible products;used interchangeably with the term manufacturing

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Operations

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– the processes used in the making of both tangible andintangible products

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Capacity

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– the maximum load that an organizational unit can carry oroperate at a given point in time

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Fixed-positionlayout

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– a company has a central location for the product andbrings all resources required to create the product to that location

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Processlayout

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– firms organize the transformation process into departmentsthat group related processes

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Productlayout

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– requires that production be broken down into relativelysimple tasks assigned to workers positioned along the line

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Computerassisted design (CAD)

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– the use of computer systems to assist in the creation,modification, analysis, or optimization of a design

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Computer-assistedmanufacturing (CAM)

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– the use of computer software to control machine tools andrelated machinery in the manufacturing of products

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Flexiblemanufacturing

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– computers can direct machinery to adapt to differentversions of similar operations

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Industrialrobot

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– a machine designed to move materials, parts, tools, orspecialized devices through variable programmed motions, for the performance ofa variety of tasks

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Supplychain management

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– occurs when managers connect all members of thedistribution system to satisfy customers; is an important component ofoperations

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Purchasing

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– the buying of all the materials needed by theorganization; also known as procurement

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Inventory

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– all the materials a firm holds in storage for future use

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Inventorycontrol

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– determining how many supplies and goods are needed andkeeping track of quantities on hand, where each item is, and who is responsiblefor it

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Economicorder quantity (EOQ) model

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– identifies the optimal number of items to order whileminimizing certain annual costs that vary according to order size

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Just-in-time(JIT) inventory management

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– minimizes the number of units in inventory by providing analmost continuous flow of items from suppliers to the production facility

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Material-requirementsplanning (MRP)

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– a planning system that schedules the precise quantity ofmaterials needed to make the product

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Manufacturing-resourceplanning (MRPII)

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– a computerized system that helps a company control all ofits resources, not just inventory needed for production

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Finished-goodsinventory

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– includes those products that are ready for sale, such as afully assembled automobile ready to ship to a dealer

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Work-in-processinventory

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– includes those products that are partially completed orare in transit

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Rawmaterials inventory

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– includes those materials that have been purchased to beused as inputs for making other products

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Routing

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– sequence of operations through which the product must pass

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Scheduling

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– assigning the work to be done to departments or tospecific machines or persons

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Programevaluation and review technique (PERT)

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– a popular scheduling technique where managers first breakdown a project into events and activities, and then lay down their propersequence, relationships, and duration in the form of a network

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Ganttchart

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– a bar chart that shows the relationship of variousscheduling activities over time; a popular technique used for schedulingpurposes

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Quality

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– the degree to which a good or service meets the demandsand requirements of the marketplace

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Qualitycontrol

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– the activities an organization undertakes to ensure thatits products meet its established quality standards

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Totalquality management

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– a management view that strives to create acustomer-centered culture which defines quality for the organization and laysthe foundation for activities aimed at attaining quality-related goals

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Internationalorganization for standardization (ISO)

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– a set of international management standards that weredeveloped to provide common standards that would apply globally

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ISO9000

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– an international management standard that deals withquality, including providing a framework for companies to document records,train employees, test products, and fix defects

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ISO14000

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– an international management standard that provides anumber of comprehensive environmental standards for businesses to ensure thatthey are limiting their negative environmental impact and improvingenvironmental performance

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Inspection

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– reveals whether a product meets quality standards

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Sixsigma

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– involves improving existing processes and developing newprocesses to meet Six Sigma standards, which requires organizations to produceno more than 3.4 defects per million opportunities

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Productivity

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– measures the relationship between the outputs produced andthe inputs used to produce them

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Partialproductivity

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– reflects output relative to a single input or somecombination of inputs

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Totalproductivity

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– reflects all the inputs used to obtain an output(s)