Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
27 Cards in this Set
- Front
- Back
The creation of goods and services
|
Production
|
|
Set of activities that creates value in the form of goods and services through the transformation of inputs into outputs.
|
Operations Management
|
|
What are the three functions of Operations Management
|
Marketing, production/operations, and finance/accounting
|
|
the application of planning, organizing, staffing, leading, and controlling to the achievement of objectives.
|
Management Process
|
|
economic activities that typically produce an intangible product (such as edu., entertainment, lodging, govt, fin. and health )
|
Services
|
|
the segment of the economy that includes trade, financial, lodging, education, legal, medical, and other professional occupations.
|
Service Sector
|
|
the ratio of outputs (goods and services) divided by the inputs (resources, such as labor and capital)
|
Productivity
|
|
indicates the ratio of one resource (input) to the goods and services produced (outputs)
|
Single-factor productivity
|
|
indicates the ratio of many or all resources (inputs) to the goods and services produced (outputs)
|
Multifactor productivity
|
|
The three factors critical to productivity improvement-labor, capital, and the art and science of management
|
productivity variables
|
|
a society in which much of the labor force has mitigated form manual work to work based on knowledge
|
Knowledge societies
|
|
number one goal in OM
|
improve productivity
|
|
Big 10 values that create values
|
design of goods/services, manage quality, process/capacity, location strategy, layout strategy, hr/job design, supply chain mgmt, inventory material requirement, intermediate/short term scheduling, maintenance
|
|
What is value defined by
|
purchaser
|
|
What are the three phases of OM
|
Cost flow (1776-1980)
Quality flow(1980-1995) Customization(1995-2015) |
|
What is Smith/Babbage know for
|
labor specilization
|
|
what is Whitney know for
|
standardized parts
|
|
What is Gantt know for
|
Gantt chart
|
|
What is Gilbreath know for
|
time & motion study
|
|
What is Taylor know for
|
scientific ...
|
|
What is ford/Sorensen know for
|
mass production, pert
|
|
What is Shewhart know for
|
statistical sampling
|
|
In what movement was computer aided design, JIT, EDI, TQM, etc. started
|
Quality focus
|
|
In what movement were globalization, internet, eCommerce, supply chain mgmt, and sustainability started
|
Customization
|
|
What is intangible, produced and consumed simultaneously, unique, high customer interaction, inconsistent product definition, knowledge based, and frequently dispersed
|
Services
|
|
What are new trends in OM
|
ethics, global, product development, environment, production, work force, supply chain
|
|
What are the productivity variables
|
labor 10%
capital 38% mgmt- 52% |