Term
| Operations Management oversees |
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Definition
| all activities that are directly related to making a product or providing a service |
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Term
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Definition
| the design, operations, and imporvement of the production system that creates the firm's primary products and services |
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Term
| The five P's of transformations |
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Definition
| people, plants, part, processes, and planning and control |
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Term
| OM decisions can be classified into 3 categories |
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Definition
1 strategic
2 tactical
3 operational |
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Term
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Definition
5-20 yrs
long range business plans, such as the acquisition of new resources |
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Term
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Definition
2-5 yrs
refers to medium range decisions, the utilization of existing resources |
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Term
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Definition
day to day
narrowly focused for a short time frame, usually involving the execution of schedules or control activities |
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Term
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Definition
| concerned with setting broad policies and plans for using the production resources of a firm to best support the firms long term competitive strategy |
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Term
| Role of a company's operations can be classified into 1 of 4 categories in this hierarchy |
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Definition
1 Internally Neutral
2 Externally Neutral
3 Internally Supportive
4 Externally supportive |
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Term
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Definition
| don't mess up, minimize the downside |
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Term
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Definition
| keeping up with the ones, operations is required to match the performance of competitiors |
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