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OPMAN MOD 1
OSM MIDTERM
| Term | Definition |
|---|---|
| What is operations? | The part of a business organization that is responsible for producing goods or services |
| How can we define operations management? | The management of systems or processes that create goods and/or provide services |
| Operations Management | A management function and an organizations CORE function |
| Operations Management | The business function responsible for planning, coordinating, and controlling the resources needed to produce products and services for a company. |
| Goods | are physical items that include raw materials, parts, sub assemblies, and final products |
| Services | are activities that provide some combination of time, location, form, or psychological value |
| Supply Chain | a sequence of activities and organizations involved in producing and delivering a good or service |
| Supply Chain | Suppliers' suppliers - Direct suppliers - producer - distributor - final customers |
| The Transformation Process | Input - Transformation - Output - Control |
| Feedback | measurements taken at various points in the transformation process |
| Control | the comparison of feedback against previously established standards to determine if corrective action is needed |
| Products | are typically neither purely service or purely goods |
| Why Study Operations Management? | every aspect of business affects or is affected by operations |
| Basic Functions of the Business Organizations | Organizations, Marketing, Operations, Finance |
| APICS | The Association for Operations Management |
| ASQ | American Society for Quality |
| ISM | Institute for Supply Management |
| INFORMS | Institute for Operations Research and Management Science |
| POMS | The Production and Operations Management Society |
| CSCMP | Council of Supply Chain Management Professionals |
| Process | consists of one or more actions that transform inputs into outputs |
| 3 Categories of Business Process | 1. Upper Management Process 2. Operational Process 3. Supporting Process |
| Upper-management Process | These govern the operation of the entire organization |
| Operational Process | These are core processes that make up the value stream |
| Supporting Processes | These support the core processes |
| Four Sources of Variation: | 1. Variety of Goods or Services being Offered 2. Structural Variation in demand 3. Random variation 4. Assignable Variation |
| Variety of goods or services being offered | The greater the variety of goods and services offered, the greater the variation in production or service requirements. |
| Structural variation in demand | These are generally predictable. They are important for capacity planning. |
| Random variation | Natural variation that is present in all processes. Generally, it cannot be influenced by managers. |
| Assignable variation | Variation that has identifiable sources. This type of variation can be reduced, or eliminated, by analysis and corrective action. |
| Role of the Operations Manager | The Operations function consists of all activities directly related to producing goods or providing services. |
| A primary function of the operations manager is to guide the system by decision making. | System design decisions System operation decisions |
| Primary Responsibility of an Operations Manager | System operation decisions |
| System design | These are typically strategic decisions that usually require a long-term commitment of resources to determine the parameters of system operation. |
| System operation | Operations managers spend more time on system operation decision than any other decision area |
| OM Decision Making | Most operations decisions involve many alternatives that can have quite different impacts on costs or profits |
| Model | an abstraction of reality; a simplification of something |
| Physical Model | miniature airplane |
| Schematic Model | drawing of a city |
| Mathematical Model | Inventory optimization |
| Quantitative Approach | A decision making approach that frequently seeks to obtain a mathematically optimal solution |
| System | a set of interrelated parts that must work together |
| The Business Organization's Subsystem | 1. Marketing Subsystem 2. Operations Subsystem 3. Finance Subsystem |
| Pareto Phenomenon | 80/20 rule |
| Craft Production | System in which highly skilled workers use simple, flexible tools to produce small quantities of customized goods |
| Frederick Winslow Taylor | Father of Scientific Management |
| Franck Gilbert | Pioneers contributed to the movement who is often referred to as the father of motion study |
| Henry Gantt | recognized the value of nonmonetary rewards to motivate workers and developed the widely used system for scheduling |
| Henry Ford | The great industrialist, employed scientific man |
| Key Issues for Operations Manager Today | 1. Economic Conditions 2. Innovating 3. Quality Problems 4. Risk Management 5. Cyber-Security 6. Competing in a global economy |
| Sustainability | using resources in ways that do not harm ecological systems that support human existence |
Created by:
s4bine