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Operations Management Terms
Terms of Buzz Words
20
Management
Beginner
02/19/2016

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Term
Operations Management
Definition
A multi-disciplinary field that focuses on managing all aspects of an organization's operations.
Term
Productivity
Definition
The result or the sum of all effort that it takes to deliver a product or service.
Term
Functions of Management
Definition
Designing, planning, organizing, directing and controlling.
Term
Process Mapping
Definition
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 in the most effective and efficient manner.
Term
Types of Coordination
Definition
Pooled coupling, sequential coupling, and reciprocal coupling.
Term
Strategy
Definition
A way through a difficulty, an approach to overcoming an obstacle, and a response to a challenge.
Term
Strategic Planning
Definition
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
Term
Benchmarking
Definition
The process of comparing the practices and strategies of other companies
Term
Eight Forces of Change
Definition
Global responsibility, consumer awareness, globalization, the increasing rate of change, the workforce of the future, the aging population, the 21st century quality and innovation.
Term
Three Overarching Factors
Definition
Complexity, agility, and ethics/social responsibility
Term
Just In Time Management
Definition
Enough supplies are ordered and delivered to get the job done today and in the near future
Term
Supply Chain management
Definition
A system management concept employed by some organizations to optimize the factors of material costs, quality and service
Term
Purchasing
Definition
The act of buying the goods and services that a company needs to operate and/pr manufacture products
Term
Traditional Purchase Process Steps
Definition
Requisition, soliciting bids, purchase order, shipping advice, invoice, and payment
Term
Product Development
Definition
Determining the characteristics and features of the product or service to be sold
Term
Product Design
Definition
Helps to determine the characteristics and features of the product, as well as how the product functions
Term
Facility Design
Definition
Determining the capacity, location and layout for the production facility.
Term
Facility Location
Definition
The placement of a facility with respect to its customers and suppliers.
Term
Facility Layout
Definition
Arrangement of the workspace within a facility.
Term
Productivity Gap
Definition
The difference between what a person can do and what that person actually does.
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