Download Term 1: Operations Management and Production - Definitions and Concepts and more Quizzes Business Research Methods for Managers in PDF only on Docsity!
Production
The creation of goods using land, labor, capital, entrepreneurship and knowledge (the factors of production) TERM 2
Operations Management
DEFINITION 2 a specialized area in management that converts or transforms resources (including skills and innovation) into goods and services TERM 3
OPERATIONS MANAGEMENT
DEFINITION 3 Inventory management Quality control Production scheduling Follow-up services Operations in Services = Experience! TERM 4
Form Utility
DEFINITION 4 The value producers add to materials in the creation of finished goods and services TERM 5
GROVE (FORMER INTEL CHAIRMAN) BASIC
PRODUCTION REQUIREMENTS
DEFINITION 5 1.To build and deliver products in response to the demands of the customer 2.To provide an acceptable quality level 3.To provide everything at the lowest possible cost
Process Manufacturing
The part of production that physically or chemically changes materials TERM 7
Assembly Process
DEFINITION 7 The part of the production process that puts together components TERM 8
Intermittent Process
DEFINITION 8 Production runs are short and the producer adjusts machines frequently to make different products (e.g., custom furniture) TERM 9
Continuous Process
DEFINITION 9 Long production runs turn out finished goods over time (e.g., chemicals) TERM 10
DEVELOPMENTS MAKING U.S. COMPANIES
MORE COMPETITIVE
DEFINITION 10 1.Computer-aided design and manufacturing (CAD/CAM/CIM) 2.Flexible manufacturing (multiple tasks/products) 3.Lean manufacturing (less of everything) 4.Mass customization (in goods and services)
Materials Requirement Planning (MRP)
A computer-based operations management system that uses sales forecasts to make sure parts and materials are available when needed TERM 17
Enterprise Resource Planning
(ERP)
DEFINITION 17 A newer version of MRP, combines computerized functions into a single integrated software program using a single database (including customer database) TERM 18
Purchasing
DEFINITION 18 The function that searches for high-quality material resources, finds the best suppliers and negotiates the best price for goods and services Has become a more strategic function- also arms length -- partnership TERM 19
Just-in-Time (JIT) Inventory Control
DEFINITION 19 The production process in which a minimum of inventory is kept and parts, supplies and other needs are delivered just in time to go on the assembly line TERM 20
Six Sigma Quality
DEFINITION 20 A quality benchmark that allows only 3.4 defects per million opportunities
Quality
Consistently producing what the customer wants while reducing errors before and after delivery. Quality control once entailed an end-of-line inspection TERM 22
Statistical Process Control
DEFINITION 22 A process of testing statistical samples of product components at each stage of production TERM 23
Statistical Quality Control
DEFINITION 23 A process used to continually monitor all phases of the production process TERM 24
The BALDRIGE
AWARDS
DEFINITION 24 Companies can apply for quality awards in these areas: Manufacturing Services Small Businesses Education Healthcare Increasingly customer focused TERM 25
The International Organization for
Standardization (ISO)
DEFINITION 25 a worldwide federation of national standards bodies ( > 140 countries)
