18982545
Description
Flashcards by Milla Jones, updated more than 1 year ago
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Created by Milla Jones
about 5 years ago
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| Question | Answer |
| Operations | Business processes that involve transformation and production |
| Cost Leadership | Aiming to be the most competitive (lowest) prices in the market |
| Goods/Service differentiation | distinguishing your products from your competitors. |
| Operations Costs | - input costs - labour costs - processing costs - inventory costs - quality management costs |
| Standardised goods | Mass Produced, no differences between them |
| Customised goods | Vary depending on the needs of the customer |
| Globalisation | The removal of trade barriers between nations that affects the operations functions of large businesses |
| Quality Expectations | The quality of management and distribution of products |
| Environmental stability | Allows future generations to satisfy their wants and reduce their carbon footprint |
| Corporate Social Responsibility (CSR) | The actions that are taken by the business based on the respect for the environment or community more than just complying with legal obligations |
| Inputs | - transformed goods - transforming goods |
| Transformed Goods | Raw material inputs that are present in the finished product |
| Transforming Goods | The inputs that carry out the transformation process and are not present in the finished product |
| Volume | ((transformation process)) How much of the product is made |
| Variety | ((transformation process)) The range of products made |
| Variation in Demand | ((transformation process)) The amount of a product desired by customers |
| Visibility | ((transformation process)) The nature and amount of customer contact |
| Sequencing | The order of activities in the operations process (eg: Gantt charts and critical path analysis) |
| Scheduling | The length of time spent on each of the operations processes' activities (eg: Gantt charts and critical path analysis) |
| Task Design | Classifying jobs activities so employees can successfully perform the task |
| Process Layout | All transforming goods (machinery and equipment) are group together where they perform |
| Product layout | When the product must be made at a specific site and all inputs must be brought to the site |
| Performance objectives | - Quality - Speed - Dependability - Flexibility - Customisation - Cost |
| Supply management |
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