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15 Cards in this Set
- Front
- Back
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Operations and op management and processes |
Converting raw materials into final product which are delivered to customers
Operations management is designing producing and delivering products and services that satisfy customers
Processes collection of processes make an operation to form network inputs and outputs |
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What is porters value chain |
Activity based that add value
1. Primary activities add value 2. Secondary support assists the main activities
Primary Inbound logistics Operations Outbound logistics Marketing sales Service
Secondary support Firm infrastructure Technology development HR Procurement
Margin would be greater than the above
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Process design and process map |
Process design Understanding business processes to ensure they are most efficient effective
Process map is a visual of how a product or transaction is processed
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How can companies continually improve to keep a competitive advantage
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1. Customer needs 2. Concept screening 3. Design process 4. Time to market 5. Product testing
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Characteristics of services
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Procurement placing orders and followup
Production costing budgeting costquality production process and Inventory
Service provision intangibility can't take away no physical inseparability hair cut needs to be there and then perishability cannot be stored variability unique cannot be repeated exactly
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Supply chain and SCM management |
SC A network of organisations provide and process the necessary raw materials to finished goods
SCM coordination of activities from suppliers or raw materials from one end of the supply chain to the customer |
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Cousins supply model |
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Material planning systems |
MRP material requirement planning Computerised system for planning requirements raw materials WIP finished items
MRP material resource planning 2 Extension from MRP Including production planning demand forecasting and productivity trading
Enterprise resource planning Evolution of MRP integration of information from operations with other functions into a single form. |
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Quality management |
Quality is the product free from errors and does it adhere to design specifications for use
Quality management is a good way to differentiate your product offering
Essentially should meet customer expectations
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Types of Quality management
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Conformance cost Prevention preventing them before they occur
Appraisal the cost of quality assurance testing
Non-conformance Internal failure picked up before reaching customers
External failure arising once reached the customer
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Operational Improvements to SCM |
Kaizen continuous improvement small incremental steps Six sigma reduction in faults Lean reduction in waste JIT reduction in storage statistical process control measure and controlled quality during a process Reverse logistics return unwanted surplus goods reuse recycle dispose
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CSF and KPI |
Critical success factors vital areas things that must go right in order to achieve their strategic objectives Key performance indicators are measures that indicate whether you are on track to achieve CSF |
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Characteristics of good KPIs |
Should cascade from strategy to tactics to operational level Should cover all perspectives internal external long short term financial or non financial Should be SMART specific measurable achievable relevant timebound Rewarded for reaching KPIs Should be extended to include supple chain partners |
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Examples of KPIs operations |
Supply chain costs per unit sold Time taken to deliver customer orders Percentage of on-time delivery to customers Quality cost lean six sigma just in time Transport costs Waiting times |
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Impact of technology on operations |
This will play a role in assembly and analysis Enterprise data warehouse as a single source to assemble clean data reports in a supply chain dashboard users can access this across the organization technology can find patterns and insights and reducing work for finance so they can focus more on advising applying execution |
