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44 Cards in this Set
- Front
- Back
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Why is it important to study operations management?
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Every aspect of business affects or is affected by operations
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Why is it important to study supply chain management?
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In the past, supply chains faced a range of problems that were seemingly beyond the control of individual organizations
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These govern the operation of the entire organization. Examples include organizational governance and organizational strategy.
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upper-management processes
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These are the core processes that make up the value stream. Examples include purchasing, production and/or service, marketing, and sales.
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operational processes
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These support the core processes. Examples include accounting, human resources, and IT
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supporting processes
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3 Types of Operations Processes:
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1. Upper-management
2. Operational 3. Supporting |
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What are the 10 differences between service and goods producing processes:
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1. Service involves a much higher degree of customer contact
2. Service operations are subject to greater variability of inputs 3. Many services involve a higher labor content 4. Goods producing processes tend to be smooth and efficient 5. Measurement of productivity is more straightforward in goods producing processes due to the high degree of uniformity 6. Customers receive the service as it is performed 7. Quality assurance is more challenging in services when production and consumption occur at the same time 8. Goods producing processes usually have more inventory on hand 9. Evaluation of output is less demanding for goods producing processes 10. Product designs are often easier to patent |
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3 Ways Operations and Supply Chain Strategy relates to Marketing and Finance:
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1. Budgeting
2. Economic analysis of investment proposals 3. Provision of funds |
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10 Competitive Dimensions of Operations and Supply Chain Strategy:
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1. Product and service design
2. Cost 3. Location 4. Quality 5. Quick response 6. Flexibility 7. Inventory management 8. Supply chain management 9. Service 10. Managers and workers |
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characteristics that customers perceive as minimum standards of acceptability to be considered as a potential for purchase
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order qualifiers
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characteristics of an organization's goods or services that causes it to be perceived as better than the competition
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order winners
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Exists when different businesses have sufficiently related value chains that permit
* Transferring skills & expertise from one business to another * Combining performance of related activities so as to reduce costs |
strategic fit
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Output/Input
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productivity
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13 Variables that affect productivity:
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1. Standardizing
2. Quality differences 3. Use of the Internet 4. Computer viruses 5. Searching for lost or misplaced items 6. Scrap rates 7. New workers 8. Safety 9. Shortage of information technology workers 10. Layoffs 11. Labor turnover 12. Design of the workspace 13. Incentive plans that reward productivity |
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an operation in a sequence of operations whose capacity is lower than that of the other operations
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bottleneck operation
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a computer-based information system that translates master schedule requirements for end items into time-phased requirements for subassemblies, components, and raw materials
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material requirements planning
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a highly coordinated processing system in which goods move through the system, and services are performed, just as they are needed
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just-in-time
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an abstraction of reality; a simplified representation of something
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model
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using resources in ways that do not harm ecological systems that support human existence
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sustainability
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the difference between the cost of inputs and the value or price of outputs
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value-added
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T/F?
Operations managers are responsible for assessing consumer wants and needs and selling and promoting the organization's goods or services. |
False
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T/F?
Often, the collective success or failure of companies' operations functions will impact the ability of a nation to compete with other nations. |
True
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T/F?
Prior to the Industrial Revolution, goods were produced primarily by craftsmen or their apprentices using custom made parts. |
True
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T/F?
Elton Mayo's "Hawthorne Experiment" was the focal point of the Human Relations Movement, which emphasized the importance of the human element in job design. |
True
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T/F?
An example of a strategic operations management decision is the choice of where to locate. |
True
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T/F?
An example of a tactical operations management decision is whether to build a new facility or to expand an existing one. |
False
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T/F?
Productivity is defined as the ratio of output to input. |
True
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T/F?
A characteristic that was once an order winner may become an order qualifier, and vice versa. |
True
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T/F?
The hierarchy and sequence of planning and decision-making is: mission, organizational strategy, tactics, and operational decisions. |
True
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T/F?
Once accepted by managers, forecasts should be held firm regardless of new input since many plans have been made using the original forecast. |
False
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T/F?
Forecasts based on time series (historical) data are referred to as associative forecasts. |
True
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T/F?
Trend adjusted exponential smoothing uses double smoothing to add twice the forecast error to last periods actual. |
False
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T/F?
A moving average forecast tends to be more responsive to changes in the data series when more data points are included in the average. |
False
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T/F?
Exponential smoothing is a form of weighted averaging. |
True
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T/F?
Curvilinear and multiple regression procedures permit us to extend associative models to relationships that are non-linear or involve more than one predictor variable. |
True
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Project management differs from management of more traditional activities mainly because of:
A. its limited time frame B. its unique, defined set of activities C. (a) and (b) D.the requirement for use of the appropriate resources E.the need for planning and execution |
C. (a) and (b)
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Which of the following would probably not involve the use of PERT?
A.planning and constructing a new city hall B.developing an advertising campaign for a new product C.designing and constructing a subway system D. writing a poem E. preparing for the visit of a foreign dignitary |
D. writing a poem
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Once a project is underway, the project manager usually is not responsible for effectively managing:
A.the people B.costs C.resources D.time E. project priority |
E. project priority
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A sequence of activities that leads from the starting node to the finishing node is called a _________.
A.Path B.Sequel C.Trail D.Critical sequence E. Time line |
A. Path
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A popular tool for planning and scheduling simple projects, and for initial planningon more complex
projects, is the: A.activity-on-arrows network B.activity-on-nodes network C.Gantt chart D.critical path method E.program evaluation and review technique |
C. Gantt chart
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To _____ an activity means to shorten the time it will take.
A.Speed B.Fund C.Crash D.Aggregate E.Matrix |
C. Crash
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Which of the following are advantages of PERT?
(I) It is visual. (II) It is automatically updated. (III) Activities that need to be watched closely can be identified. A.I and II B. II and III C.III only D.I and III E.I, II, and III D. |
D. I and III
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A one-hour photo processing machine in a Wal-Mart store is an example of a ___.
A.micro-factory B.downsize strategy C.diversified strategy D. lean production system E.falling price strategy |
A. micro-factory
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The method for evaluating location alternatives which uses their composite (weighted-average) scores is:
A.cost-volume analysis B.transportation model analysis C.factor rating analysis D. linear regression analysis E.MODI analysis |
C. Factor rating analysis
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