Operations Management Chapter 1

Front 1

the science or art of ensuring that goods and services are created/produced and are delivered successfully to the customer

Back 1

Operational Managment

Front 2

3 Core Issues to Operational Management

Back 2

Efficiency, Cost, and Quality

Front 3

Anyone who holds a stake in the company

Back 3

Stakeholder.

Front 4

People we work with within an organization.

Back 4

Internal Customers

Front 5

Persons who buy our goods or services

Back 5

External Customers

Front 6

Physical Product you can see, touch, and possibly consume.

Back 6

Goods (Tangible)

Front 7

Does not quickly wear away, typically last 3+ years.

Back 7

Durable Goods

Front 8

No longer useful once it is used, or lasts less than three years.

Back 8

Non-Durable Goods

Front 9

Any primary or complimentary duty that does not provide a Tangible Good

Back 9

Service

Front 10

3 Similarities between Goods and Services

Back 10

1. Driven by Customer

2. Can be Standardized or Customized

3. Provided by a combination of people and technology.

Front 11

7 Differences between Goods and Services

Back 11

1. Goods are Tangible, Services are not.

2. Customer Participation in Services

3. Demand for Services is more difficult to predict than goods.

4. Services cannot be stored as physical inventory.

5. Service Management Skills are paramount to success.

6. Need to be closer for service industry.

7. Patents do not protect Services

Front 12

an interaction between customer and service provider

Back 12

Service Encounter

Front 13

any episode, transaction, or experiences in which a customer comes into contact with any aspect of the delivery system and has the chance to form an impression.

Back 13

Moments of Truth

Front 14

Receiving a good and service at the same time.

Back 14

Customer Benefit Package or CBP

Front 15

3 Aspects to a CBP

Back 15

1. Primary good or service

2. Peripheral Good or Service

3. Variant

Front 16

A sequence of activities that is intended to create a certain result--where value is created

Back 16

Process

Front 17

Focused on producing or delivered an organizations primary good or service.

Back 17

Value Creation Process

Front 18

Purchasing Materials and supplies, managing inventory, installation, health benefits, etc.

Back 18

Support Process

Front 19

Accounting and information systems, human resource management and marketing, etc.

Back 19

General Management Processes

Front 20

Organization's ability to strategiclly address that embraces opportunities and manages risk for all profucts, systems, supply chains, and processes to preserve resources for future generations.

Back 20

Sustainability

Front 21

3 Measurements of Sustainability

Back 21

1. Environmental

2. Social Sustainability

3. Economic Sustainability

Front 22

Process of Transforming data into actions through the analysis and insights and context of organizational decision making and problem solving.

Back 22

Business Analytics