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27 Cards in this Set

  • Front
  • Back
The creation of goods and services
Set of activities that creates value in the form of goods and services through the transformation of inputs into outputs.
Operations Management
What are the three functions of Operations Management
Marketing, production/operations, and finance/accounting
the application of planning, organizing, staffing, leading, and controlling to the achievement of objectives.
Management Process
economic activities that typically produce an intangible product (such as edu., entertainment, lodging, govt, fin. and health )
the segment of the economy that includes trade, financial, lodging, education, legal, medical, and other professional occupations.
Service Sector
the ratio of outputs (goods and services) divided by the inputs (resources, such as labor and capital)
indicates the ratio of one resource (input) to the goods and services produced (outputs)
Single-factor productivity
indicates the ratio of many or all resources (inputs) to the goods and services produced (outputs)
Multifactor productivity
The three factors critical to productivity improvement-labor, capital, and the art and science of management
productivity variables
a society in which much of the labor force has mitigated form manual work to work based on knowledge
Knowledge societies
number one goal in OM
improve productivity
Big 10 values that create values
design of goods/services, manage quality, process/capacity, location strategy, layout strategy, hr/job design, supply chain mgmt, inventory material requirement, intermediate/short term scheduling, maintenance
What is value defined by
What are the three phases of OM
Cost flow (1776-1980)
Quality flow(1980-1995)
What is Smith/Babbage know for
labor specilization
what is Whitney know for
standardized parts
What is Gantt know for
Gantt chart
What is Gilbreath know for
time & motion study
What is Taylor know for
scientific ...
What is ford/Sorensen know for
mass production, pert
What is Shewhart know for
statistical sampling
In what movement was computer aided design, JIT, EDI, TQM, etc. started
Quality focus
In what movement were globalization, internet, eCommerce, supply chain mgmt, and sustainability started
What is intangible, produced and consumed simultaneously, unique, high customer interaction, inconsistent product definition, knowledge based, and frequently dispersed
What are new trends in OM
ethics, global, product development, environment, production, work force, supply chain
What are the productivity variables
labor 10%
capital 38%
mgmt- 52%