Term
| Operations Management (OCM) |
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Definition
| The business function responsible for planning, coordinating and controlling the resources needed to produce a company's goods and services |
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| Role Of Operations Management |
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Definition
| To transform organizational inputs into outputs |
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| Customer feedback takes the outputs and helps create outputs and than you have performance information |
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| The net increase created during the transformation of inputs into final outputs |
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| Performing activities at the lowest possible cost |
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| Manufacturing Organizations |
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Definition
| Organizations that primarily produce a tangible product and typically have low customer contact |
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| Organizations that primarily produce an intangible product, such as ideas, assistance or information typically have high customer care |
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| Decisions that set the direction for the entire company; they're broad in scope and long-term in nature |
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| Decisions that are specific and short-term in nature and are bound by strategic decisions |
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| A philosophy designed to achieve high-volume production through elimination of waste and continuous improvement |
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| Philosophy that seeks to improve quality by eliminating causes of product defects and by making quality the responsibility of everyone in the organization |
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| Redesigning a company's processes to make them more efficient |
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| An organizational strategy in which the company attempts to offer a greater variety of product choices to its customers |
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| The ability of a firm to highly customize its goods and services at high volumes |
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| An organizational strategy focusing on the efforts to develop new products and deliver them to customers faster than competitors |
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| Management of the flow of materials from the suppliers to the customers in order to reduce overall cost and increase responsiveness to customers |
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| A trend, in business focusing on customers, suppliers, and competitors from a global perspective |
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| A trend in business to consciously reduce waste, recycle and reuse products and parts |
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| Electronic commerce between businesses |
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| Electronic commerce between businesses and their customers |
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| Electronic commerce between customers |
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| A concept that takes a total system approach to creating efficient operations |
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| Enterprise Resource Planning |
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Definition
| Large sophisticated software systems used for identifying and planning the enterprise wide resources needed to produce and deliver products |
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| Customer relationship management |
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Definition
| Software solutions that enable the firm to collect customer specific data |
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| Cross functional decision making |
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Definition
| The coordinated interaction and decision making that occur among the different functions of the organization |
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| A statement defining what business an organization is in, who its customers are, and how its core beliefs shape its business |
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| Monitoring the external environment for changes and trends to determine business opportunities and threats |
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| The unique strengths of a business. The 5 are Workforce, Facilities, Market Understanding, financial know how, and technology |
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| Capabilities that the operations function can develop in order to give a company a competitive advantage in its market |
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| A competitive priority focusing on keeping costs low, by offering a product at a lower price compared with competing products |
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| A competitive priority focusing on the quality of goods and services. Two dimensions high performance (such as tolerances, high durability) and goods and services consistency |
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| A competitive priority focusing on offering a wide variety of goods and services. This encompasses product flexibility and volume flexibility |
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| The need to focus more on one competitive priority than on others |
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| Competitive priorities that must be met for a company to qualify as a competitor in the marketplace |
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| Competitive priorities that win orders int he market place |
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Definition
| Operations decisions related to the design of the production process such as facilities, technology, and flow of goods and services through the facility |
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| Operations decisions related to the planning and control systems of the operation, such as organization of operations, skills and pay of workers and quality measures |
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| Can be acquired to improve processes and maintain up to date standards and also to gain a competitive advantage |
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| Measure of how efficiently an organization converts inputs into outputs |
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| The equation for productivity |
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Definition
| Output/Input, this formula can be used to measure the productivity of of one worker or many, as well as the productivity of a machine etc |
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| Productivity computed as a ration of outputs to organizational outputs |
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| Formula for Total Productivity |
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| Output/Input, combined everything together used vs what was produced |
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| Productivity computed as a ratio of output to only one input..ex 364 pastries in 4 hrs...364/4= # per hr |
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| Productivity computed as a ratio of output to several, but not all inputs |
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| The ease with which a product can be made |
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| The process of defining all of the products characteristics |
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| The process of establishing all the characteristics of the service, including physical, sensual, and psychological benefits |
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| Steps in the product design process |
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Definition
| Idea development (customers, suppliers and competitors), Product screening (evaluating the cost, operations and the possible marketing), Preliminary design (product prototypes, testing), and Final design |
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| The process of studying the practices of companies considered to be best in class and comparing your company against them |
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| A technique used to compute the amt of goods a company would need to sell to cover its costs |
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| Costs a company incurs regardless of how much it produces |
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| Costs that come directly with the amt of units produced |
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| F+(VC)Q..f is fixed costs, vc is variable costs, and q is the quantity |
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Total revenue-Total cost
(SP)Q-[F+(VC)Q] |
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| A series of guidelines to follow in order to produce a product easily and profitability |
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| Design simplification and design standardization are important to simplifying a product |
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| A series of stages that products pass through in their lifetime, characterized by changing product demands over time. Introduction, Growth, Maturity, Decline |
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| An approach that brings together multifunction teams in the early phrase of product design in order to simultaneously design the product and the process |
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| Processes used to produce a variety of products with different processing requirements in lower volumes |
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| Processes used to produce one or a few standardized products in high volume |
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| A type of process used to make a one at a time product exactly to customer specifications |
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| A type of process used to produce a small quantity of products in groups or batches based on customer orders or specifications |
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| A type of process used to produce a large volume of a standardized product |
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| A type of process that operates continually to produce a high volume of a fully standardized product |
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| A technique used for evaluating a process in terms of the sequence of steps from inputs to outputs with the goal of improving its design |
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| A chart showing the sequence of steps in producing the product or service |
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| Longest task in the process |
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| Produces standard products and services for immediate sale or delivery |
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| Assemble to order strategy |
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| Produces standard components that can be combined to customer specifications |
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| Produces products to customer specifications after an order has been received |
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| Process performance metrics |
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Definition
| Measurements of different process characteristics that tell how a process is performing |
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| Average amount of time it takes a product to move through the system |
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| Ratio of throughput time to value added time |
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| Equation for process velocity |
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Definition
| Throughput/value-added time |
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| Ratio of outputs over inputs |
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| Ratio of time a resource is used to time it is available for use |
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| Ratio of actual output to standard output |
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| Technology that enables storage, processing, and communication of information within and between firms |
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Definition
| Enterprise resource planning, large software programs used for planning and coordinating all resources throughout the entire enterprise |
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Term
| Global positioning systems |
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Definition
| A type of wireless technology that uses satellite transmission to communicate exact locations |
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| Radio frequency identification |
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Definition
| A wireless technology that uses memory chips |
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| Using machinery to perform work without human operations |
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| Flexible Manufacturing System |
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| A type of automated system that combines the flexibility of intermittent operations with the efficiency of continuous |
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| A system that uses computer graphics to design new products |
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| Computer integrated manufacturing |
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| A term used to describe the integration of product design, process planning, and manufacturing using an integrated computer system |
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| A grouping of physical, sensual, and psychological benefits that are purchased together as part of the service |
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| A network of all the activities involved in delivering a finished product or service to the customer |
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| coordinates and manages the activities of the supply chain |
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| Coordinating the movement of goods through the supply chain and sharing relevant info like sales forecasts |
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| Supplies materials or services directly to the processing facility |
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| Directly supplies materials or services to a tier one supplier in the supply chain |
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| Directly supplies materials or services to a tier two supplier in the supply chain |
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| Activities involved in obtaining, producing, and distributing materials and products in the proper place |
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| Responsible for arranging the method of shipment for both incoming and outgoing materials and products |
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| Responsible for movement of material from the manufacturer to the customer |
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| Inaccurate or distorted demand info created in the supply chain |
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| Suppliers and buyers conduct trade in a single internet based environment |
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| Electronic request for quote |
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| An electronic request for a quote on goods and services |
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| Green supply chain management |
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Definition
| Focuses on the role of the supply chain w/ regard to its impact on an environment |
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| A measure of how much of the supply chain is actually owned and operated by the manufacturing company |
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| Processes or activities that are completed in-house |
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| Processes or activities that are completed by suppliers |
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| Owning or controlling sources of raw materials and components |
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| Owning or controlling the channels of distribution |
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| Tc(buy)=fcbuy+(VCbuy x Q) |
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| A process of developing long term relationship |
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| Early supplier investment |
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| Involvement of critical suppliers in new product design |
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| Used for long term storage |
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| Used for short-term storage, consolidation |
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| A strategy that shifts production differentiation closer to the consumer by postponing final configuration |
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| Eliminates the storage and order picking functions of a distribution warehouse |
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| Manufacturing, Distributor, Transportation, and Retail |
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| An integrated effort designed to improve quality performance at every lvl of the organization |
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| The meaning of quality as defined by the customer |
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| Conformance to specifications |
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Definition
| How well a product or service meets the targets and tolerances determined by its designers |
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| A definition of quality that evaluates how well the product performs for its intended use |
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| Quality defined in terms of product or service usefulness for the price paid |
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| Quality defined in terms of the support provided after the product or service is purchased |
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| A way of defining quality that focuses on judgmental evaluations of what constitutes product or service excellence |
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| Costs incurred in the process of preventing poor quality from occurring |
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| Costs incurred in the process of uncovering defects |
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| Costs associated with discovering poor product quality before the product reaches the customer |
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| Costs associated with quality problems that occur at the customer site |
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Definition
| Is referred to as "the father of quality control", he went on to assist Japanese companies come back after WWII. The Japanese regarded him so highly that they eventually established, the Deming prize, an annual award given to firms that demonstrate outstanding quality |
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| A design that results in a product that can perform a wide range of conditions |
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| A philosophy of never-ending improvement |
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| A Japanese term that describes a notion of a company constantly improving through learning and problem solving |
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| A team of volunteer production employees and their supervisors who meet regularly to solve quality problems |
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| A chart that identifies potential causes of particular quality problems |
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| A schematic of the sequence of steps involved in an operation or process |
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| A list of common defects and the number of observed occurrences of these defects |
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| Charts used to evaluate whether a process is operating within set expectations |
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| Graphs show how two variables are related to each other |
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| A technique used to identify quality problems based on their degree of importance |
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| A chart that shows the frequency distribution of observed values of a variable |
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| Quality function deployment |
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| A tool used to translate the preferences of the customer into specific technical requirements |
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| The probability that a product, service, or part will perform as intended |
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| Redundant Reliability equation |
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| Rs= (reliability of 1st component)+ (reliability of 2nd component) x (probability of needing an 2nd component) |
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| The belief that it is best to uncover the source of quality problems and eliminate it |
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| Malcolm Baldrige National Quality Award |
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| An award given annually to companies that demonstrate quality excellence and establish best practice standards in industry |
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| A set of international quality standards and a certification demonstrating that companies have met all the standards the standards specified |
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| A set of international standards and a certification focusing on a company's environmental responsibility |
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