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Definition
| A multi-disciplinary field that focuses on managing all aspects of an organization’s operations |
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| Design for Manufacturing and Assembly (DFMA) |
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| This design model focuses on improving quality and lowering costs |
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| Qualify Functional Deployment |
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Definition
| This design model focuses on customers’ needs to determine the product or service to be offered |
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| The process of taking a strategic plan and turning it into process objectives by identifying key steps that must be taken to move from the beginning of the process to the end of the process |
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| Porter's five forces analysis |
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Definition
| framework for industry analysis and business strategy development formed by Michael E. Porter of Harvard Business School that draws upon industrial organization economics to derive five forces that determine the competitive intensity and therefore attractiveness of a market. |
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| A management-directed process that is intended to determine a desired future state for a business entity and to define overall strategies for accomplishing the desired state |
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| The Baldridge Performance Excellence Program |
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Definition
The Baldrige Program
• Raises awareness about the importance of performance excellence in driving the U.S. and global economy |
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| Total Quality Management (TQM) is a management approach to long–term success through customer satisfaction |
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| A disciplined process of systematic exploration, controlled experimentation and then painstaking adoption of the new procedures |
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| a disciplined, data-driven approach and methodology for eliminating defects (driving toward six standard deviations between the mean and the nearest specification limit) in any process |
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Definition
| an analysis of all supplies and goods required to perform activities within all process that may exist in a company |
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Definition
| Empowering Teams can be considered taking strategic sourcing to the next level. ). With this system, cross – function teams (teams that work together across various departments) are put in charge determining the goods needs |
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Definition
| Seeks to maintain just enough supplies and raw materials to perform daily activities within a process and to be able to continue performing those activities only into the near future |
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Definition
| The contracting or subcontracting of noncore activities to free up cash, personnel, time, and facilities for activities in which a company holds a competitive advantage |
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Definition
| A technique for understanding your Strengths and Weaknesses, and for identifying both the Opportunities open to you and the Threats you face |
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Definition
| A rigorous, formal, intellectual, and standardized process. A dynamic, complex decision-making process where management evaluates its ability to manipulate controllable factors and to respond to uncontrollable factors in an environment of uncertainty |
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Definition
| The result or the sum of all effort that it takes to deliver a product or service |
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| Mutual reward theory (MRT) |
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Definition
| A management technique based on finding ways for all to benefit. That is, if an organization can assist an employee in reaching some of his or her goals while still meeting the company's production goals |
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| Best Practices / Benchmarking |
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Definition
| The process of comparing the practices and strategies of other companies |
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Definition
| Management policies and procedures designed to maintain or restore business operations |
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