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19 Cards in this Set
- Front
- Back
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operations management |
design, direction, & control of processes that transform inputs into services/products for internal/external customers |
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supply chain management |
synchronization of a firm's processes with supplies & customers to match flow of materials, services, & info customer demand |
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integration of what 3 functional areas of business? |
-finance -operations -marketing |
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process |
takes 1+ inputs, transforms them, & provides 1+ outputs for customers |
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difference between service & manufacturing process? |
manufacturing process: -output can be inventoried -long response time -capital intensive -quality easily measured service: -output cannot be inventoried -short response time -labor intensive -quality not easily measured |
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competitive priorities |
critical dimensions that a process or supply chain MUST possess to satisfy internal/external customers |
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competitive capabilities |
cost, quality, time, & flexibility dimensions that a process or supply chain ACTUALLY possesses & is able to deliver |
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[cost] |
delivering a service or a product at the lowest possible cost ex: costco |
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[quality] top quality definition & example |
delivering an outstanding service or product ex: Rolex |
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[quality] consistent quality definition & example |
producing services or products that meet design specifications on a consistent basis ex: McDonald's |
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[time] delivery speed definition & example |
quickly filling a customers order ex: Dell or Amazon |
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[time] on-time delivery definition & example |
meeting delivery-time promises ex: UPS |
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[time] development speed definition & example |
quickly introducing a new service or product ex: ZARA |
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[flexibility] customization definition & example |
satisfying the unique needs of each customer by changing service or product designs ex: Ritz Carlton |
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[flexibility] variety definition & example |
handling a wide assortment of services or products efficiently ex: Amazon or grocery stores |
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[flexibility] volume flexibility definition & example |
accelerating or decelerating the rate of production of service or products quickly to handle large fluctuations in demand ex: USPS |
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Making It Work Steps (5 steps) |
1. identify 2. measure 3. capability (current state) 4. gap 5. action (future state recommendation) |
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productivity definition & equation |
the value of outputs produced / value of input resources productivity = output/input |
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multi-factor productivity equation |
multi-factor productivity = value of output / |
