Business Notes Operations

Question 1

Define Operations

Answer 1

Refers to the business process that involves the transformation of an input into an output

Question 2

What is the stategic role of operations managment

Answer 2

1. Cost leadership
2. Good/service differentiation

Question 3

What are the influences of Operations

Answer 3

1. Globilistation, Technology, Quality expectation, Cost-based competition, Government/legal, enviornment sustainabillity.
2. Corporate social responsbility

Question 4

Under influences what are the corporate social responsbillities of the business

Answer 4

1. The difference between legel and ethical responsibllity
2. Enviornmental sustainabillity and social responsbillity

Question 5

What are the operation Processes

Answer 5

1. Inputs
2. Transformation Process
3. Outputs

Question 6

Under operations process inputs… what are the two main inputs of a business

Answer 6

1. Transformed inputs (materials, information, customers)
2. Transforming inputs (Human resources, Facillities)

Question 7

What are the elements involved in the transformation process of operations

Answer 7

1. The influence of the 4 V’s
   - Variey
   - Volume
   - Varaiation in demand
   - Visiblity
2. Sequencing and Scheduling - Gantt charts and critical path anaylsis
3. Technology, task design and process layout
4. Monitoring control and improvment

Question 8

What are the elements of the outputs refering to operations

Answer 8

1. Warranties
2. Customer service

Question 9

Regarding Operations Strategy… what are some performance objectives

Answer 9

Quality, speed, dependability, flexability, customisation, cost

Question 10

Regarding Operations strategy… what are some supply chain managment strategies

Answer 10

Logistics, E-commerce, Global sourcing

Question 11

what are some adv and dis adv for outsourcing for a business

Answer 11

Adv
- More time to focus on important things of the business
- Increased accountabillity

Dis
- Cost
- Not maintain a good idea of the roles of what the business events, therefore could be hella bad

Question 12

Operation strategies relating to technology

Answer 12

1. Leading edge technology
2. Established ( Tried and proven to work)

Question 13

List the inventory managment strategies

Answer 13

1. LIFO(Last in First out)
2. FIFO(First in first out)
3. JIT(Just in time)

Question 14

What are some advanteges and disadvantges of holding stock

Answer 14

Adv
- Simplification
-Cost saving
-Efficiency

Dis
- Cost
-Issues with communication

Question 15

Define quality managment

Answer 15

Quality managment refers to those processes that a busines undertakes to ensure consistency, reliability, safety and fitness of the product.

Question 16

What is quality control

Answer 16

It Inspects, measures and checks for Defects

Question 17

What is quality assurance

Answer 17

The application of international and quality standards.

Question 18

What is quality improvment

Answer 18

Total quality managment and continues improvment. a quality management approach used to identify and remove the causes of problems in the operations process.

Question 19

what is total quality managment

Answer 19

a system of management based on the principle that every member of staff must be committed to maintaining high standards of work in every aspect of a company’s operations.

Question 20

What are some operation strategies for overcoming resistence to change

Answer 20

1. Financial costs
2. Purchasing new equitments
3. Redundancy payments
4. Retraining
5. Reorginising plant layout
6. Inertia

Question 21

Operation strategies refering to Global factors

Answer 21

1. Global sourcing
2. Economies on scale
3. Scanning and learning
4. Research and development