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Operations Management
Operations Management Flashcards
20
Management
Undergraduate 4
02/23/2017

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Cards

Term
Business Continuity Plan
Definition

A plan that can be put into action if a situation arises where normal process follow is affected due to some issue with a particular activity

Term
Due Diligence
Definition
Verify the vendor's/manufacturer's past legal and claims history, contact references, buy products and investigation of the financial and insurance status of the  company
Term
Disaster Recovery Plan
Definition

A plan that identifies what those roadblocks may be and the process to be implemented to get business back to usual as soon as possible.

Term
Outsourcing
Definition
Contracting or subcontracting of noncore activities to free up cash, personnel, time and facilities for activities in which a company holds a competitive advantage.
Term
Supply Chain Management
Definition
A system management concept employed by some organizations to optimize the factors of material costs, quality and service
Term
Malcom Baldridge National Quality Award
Definition
Continuously provide exceptional customer service, empower its workforce, think and act in an ethical manner and think and act in a strategic manner. The highest quality award to be earned in the United States.
Term
Operations Management
Definition
Multi-disciplinary field that focuses on managing all aspects of an organization’s operations
Term
Planning the system
Definition
How the existing resources will be used to produce the product or service
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
Bargaining power of the buyer
Definition
Buyer may strive to keep value added to themselves by demanding lower prices, demanding better quality or service or pitting industry participants against each other.
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
Reciprocal Coupling
Definition
Provides input and output passed between departments and is coordinated through open communication
Term
Quality Management
Definition
An approach taken by management to assess, maintain and improve upon the activities of a process in order to maintain the quality of a product or service.
Term
Best practices
Definition
Process of comparing the practices and strategies of other companies.”
Term
Just In Time (JIT)
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
Term
Value added
Definition
Calculated by taking the price the product or service sold for and subtracting the initial costs.
Term
Change Agents
Definition
People who deal with and address the objectively real resistance of change recipients
Term
Heterogeneous Structure
Definition
Diverse in age, gender, knowledge base and decision making styles.
Term
Project Management
Definition
The process of planning, controlling, monitoring and reviewing a project.
Term
Mass Customization
Definition
Second category defined in the process matrix. Variation is controlled, usually due to a limitation in the raw materials that cause the variation.
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