OPSMAN Flashcards by James Esmale

Q

CREATES VALUE IN THE FORM OF GOODS AND SERVICES BY TRANSFORMING INPUTS INTO OUTPUTS

A

OPERATION MANAGEMENT

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Q

SUPPLIERS, MANUFACTURERS, WAREHOUSES, TRANSPORTATION, RETAILERS, AND CUSTOMERS

A

OPERATION MANAGEMENTT

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Q

THE CREATION OF GOODS AND SERVICES

A

PRODUCTION

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Q

RESOURCES USED TO PRODUCE GOODS AND SERVICES

A

INPUT

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Q

ARE THE FINAL PRODUCTS OR SERVICES DELIVERED TO CUSTOMERS

A

OUTPUT

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Q

ONE OF THE THREE FUNCTIONS THAT EVERY ORGANIZATION PERFORMS

A

OPERATIONS

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Q

WHAT ARE THE THREE ORGANIZATION FUNCTIONS?

A

MARKETING
PRODUCTION / OPERATION
FINANCE / ACCOUNTING

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Q

ORGANIZATION FUNCTIONS:

GENERATES THE DEMAND OR AT LEAST TAKES THE ORDER FOR A PRODUCT OR SERVICES

A

MARKETING

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Q

ORGANIZATION FUNCTIONS:

CREATES, PRODUCES, AND DELIVERS THE PRODUCT

A

PRODUCTION / OPERATION

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Q

ORGANIZATION FUNCTIONS:

TRACKS HOW WELL THE ORGANIZATION IS DOING, PAYS THE BILLS, AND COLLECT THE MONEY

A

FINANCE / ACCOUNTING

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Q

TO LEARN HOW PEOPLE ORGANIZE FOR PRODUCTIVE ENTERPRISE

TO LEARN HOW GOODS AND SERVICES ARE PRODUCED

UNDERSTAND THE OPERATIONS MANER DO

COSTLY PART OF AN ORGANIZATION

A

STUDY OF OPERATION MANAGEMENT

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Q

FIVE BASIC MANAGEMENT PROCESS

A

PLANNING
ORGANIZING
STAFFING
LEADING
CONTROLLING

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Q

FIVE BASIC MANAGEMENT PROCESS:

DECIDING WHAT NEEDS TO BE DONE, SETTING GOALS, AND FIGURING OUT THE BEST PATH TO GET THERE

A

PLANNING

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Q

FIVE BASIC MANAGEMENT PROCESS:

ARRANGING RESOURCES LIKE PEOPLE, EQUIPMENT, AND PROCESSES SO PLANS CAN BE CARRIED OUT EFFECTIVELY

A

ORGANIZING

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Q

FIVE BASIC MANAGEMENT PROCESS:

MAKES SURE THE RIGHT PEOPLE ARE HIRED, TRAINED, AND PLACED IN THE RIGHT POSITIONS

A

STAFFING

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Q

FIVE BASIC MANAGEMENT PROCESS:

MOTIVATING, GUIDING, AND INSPIRING PEOPLE

A

LEADING

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Q

FIVE BASIC MANAGEMENT PROCESS:

MONITORING RESULTS, MEASURING PERFORMANCE, AND MAKING ADJUSTMENTS WHEN THINGS DON’T GO AS PLANNED

A

CONTROLLING

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Q

10 OM DECISIONS

A

DESIGN OF GOODS AND SERVICES
MANAGING QUALITY
PROCESS STRATEGIES
LOCATION STRATEGIES
LAYOUT STRATEGIES
HUMAN RESOURCES
SUPPLY CHAIN MANAGEMENT
INVENTORY MANAGEMENT
SCHEDULING
MAINTENANCE

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Q

HERITAGE OM

A

COST FOCUS
QUALITY FOCUS
CUSTOMIZATION FOCUS
GLOBALIZATION FOCUS

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Q

HERITAGE OM:

EARLY CONCEPTS 1776-1880

A

COST FOCUS

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Q

HERITAGE OM:

SCIENTIFIC MANAGEMENT ERA 1880-1910

A

COST FOCUS

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Q

HERITAGE OM:

MASS PRODUCTION ERA 1910-1980

A

COST FOCUS

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Q

HERITAGE OM:

LEAN PRODUCTION ERA 1980-1995

A

QUALITY FOCUS

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Q

HERITAGE OM:

MASS CUSTOMIZATION ERA 1995-2005

A

CUSTOMIZATION FOCUS

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HERITAGE OM: GLOBALIZATION ERA 2005-2025

GLOBALIZATION FOCUS

USUALLY TANGIBLE, STORABLE, AND CAN BE INVENTORIED

GOODS

STRATEGIC APPROACHES TO COMPETITIVE ADVANTAGE: BEING QUICK, FLEXIBLE, AND RELIABLE IN CUSTOMERS NEEDS

COMPETING THROUGH RESPONSE (FASTER)

USUALLY INTANGIBLE, CONSUMED AS THEY'RE PRODUCED, AND HARDER TO STANDARDIZE

SERVICES

RATIO OF OUTPUTS DIVIDED BY ONE OR MORE INPUTS

PRODUCTIVITY

O / I

PRODUCTIVITY

CONTRIBUTES ABOUT 38% OF THE ANNUAL INCREASE

CAPITAL (TOOLS & INVESTMENT)

PURPOSE OF PRODUCTIVITY

LESS TIME HELP SCHEDULING PROJECTS HIGHER REVENUE USING FEWER RESOURCES

WAYS TO IMPROVE PRODUCTIVITY

REDUCING INPUTS WHILE KEEPING OUTPUT CONSTANT INCREASING OUTPUT WHILE KEEPING INPUT CONSTANT RELATIVE INCREASE OR DECREASE IN OUTPUT AND INPUT

INDICATES THE RATIO OF GOODS AND SERVICES PRODUCED TO MANY OR ALL RESOURCES

MULTI-FACTOR

INDICATES THE RATIO OF GOODS AND SERVICES PRODUCED TO ONE RESOURCE

SINGLE FACTOR

CONTRIBUTES ABOUT 10% OF THE ANNUAL INCREASE

LABOR

CONTRIBUTES ABOUT 52% OF THE ANNUAL INCREASE

MANAGEMENT (PRODUCTIVITY DRIVER)

CURRENT CHALLENGES IN OM:

GLOBALIZATION SUPPLY-CHAIN PARTNERING SUSTAINABILITY RAPID PRODUCT DEVELOPMENT MASS CUSTOMIZATION LEAN OPERATIONS

CURRENT CHALLENGES IN OM: INTERNATIONAL COMPETITON

GLOBALIZATION

CURRENT CHALLENGES IN OM: COORDINATION WITH SUPPLIERS

SUPPLY CHAIN PARTNERING

CURRENT CHALLENGES IN OM: ECO-FRIENDLY OPERATIONS

SUSTAINABILITY

CURRENT CHALLENGES IN OM: INNOVATION SPEED

RAPID PRODUCT DEVELOPMENT

CURRENT CHALLENGES IN OM: INDIVIDUALIZED PRODUCT EFFICIENTLY

MASS CUSTOMIZATION

CURRENT CHALLENGES IN OM: ELIMINATE WASTE AND MAXIMIZING VALUE

LEAN OPERATIONS

BUSINESSES CONNECT WITH CUSTOMERS, TALENTS, AND SUPPLIERS FROM ALL OVER THE WORLD

GLOBALIZATION

TO COMPETE GLOBALLY BY IMPROVING SYSTEMS, LOWERING COSTS, AND REACHING MORE MARKETS

GLOBALIZATION

GLOBALIZATION AIMS TO:

IMPROVE SUPPLY CHAIN REDUCE COSTS AND EXCHANGE RATE RISK IMPROVE OPERATIONS UNDERSTAND THE MARKET IMPROVE PRODUCTS ATTRACT AND RETAIN GLOBAL TALENT

GLOBALIZATION AIMS TO: A SMOOTHER AND SMARTER WAY OF GETTING PRODUCTS AND RESOURCES

IMPROVE SUPPLY CHAIN

GLOBALIZATION AIMS TO: LOCATING OPERATIONS WHERE EXPENSES ARE LOWER AND PROTECTING THE BUSINESS FROM CURRENCY

REDUCE COSTS AND EXCHANGE RATE RISK

GLOBALIZATION AIMS TO: COMPANIES IN DIFFERENT COUNTRIES AND SHIFT PRODUCTION

OPERATIONAL HEDGING

GLOBALIZATION AIMS TO: LEARN GLOBAL BEST PRACTICES AND SET UP FACILITIES CLOSER TO CUSTOMERS TO LOCAL NEEDS

IMPROVE OPERATIONS

GLOBALIZATION AIMS TO: STUDY CUSTOMER PREFERENCES WORLDWIDE AND ADAPT PRODUCTS TO LOCAL NEEDS

UNDERSTAND THE MARKET

GLOBALIZATION AIMS TO: ENHANCE INNOVATION AND QUALITY BY COMBINING GLOBAL IDEAS

IMPROVE PRODUCTS

GLOBALIZATION AIMS TO: HIRE AND KEEP TOP TALENT WORLDWIDE

ATTRACT AND RETAIN GLOBAL TALENT

CULTURAL AND ETHICAL ISSUES

BRIBERY CHILD LABOR ENVIRONMENT INTELLECTUAL PROPERTY (IP) PROTECTION GENDER ROLES

PURPOSE OR RATIONALE FOR AN ORGANIZATION'S EXISTENCE

MISSION

HOW AN ORGANIZATION EXPECTS TO ACHIEVE ITS MISSIONS AND GOALS

STRATEGY

STRATEGIC APPROACHES TO COMPETITIVE ADVANTAGE

DIFFERENTIATION COST LEADERSHIP RESPONSE

STRATEGIC APPROACHES TO COMPETITIVE ADVANTAGE: A STRATEGY WHERE A COMPANY MAKES ITS PRODUCT OR SERVICE UNIQUE AND DIFFERENT FROM OTHERS

COMPETING ON DIFFERENTIATION (BETTER)

STRATEGIC APPROACHES TO COMPETITIVE ADVANTAGE: A STRATEGY WHERE THE COMPANY BECOMES THE LOWEST-COST PRODUCER IN THE INDUSTRY

COMPETING THROUGH COST LEADERSHIP (CHEAPER)

THE CREATION OF A UNIQUE EDGE OR STRENGTH OVER COMPETITORS

COMPETITIVE ADVANTAGE

TOOLS FOR GAINING COMPETITIVE ADVANTAGE:

RESOURCE BASED VIE VALUE CHAIN ANALYZIZ FIVE FORCES MODEL BY MICHAEL PORTER

TOOLS FOR GAINING COMPETITIVE ADVANTAGE: A MANAGERS USE TO ASSESS AND MANAGE THE COMPANY'S RESOURCES LIKE PEOPLE, TECHNOLOGY, AND CAPITAL TO GAIN A COMPETITIVE ADVANTAGE

RESOURCE BASED VIEW

TOOLS FOR GAINING COMPETITIVE ADVANTAGE: A TOOL FOR IDENTIFYING WHICH ACTIVITIES IN THE PRODUCTION OR SERVICE PROCESS ADD THE MOST VALUE TO CUSTOMERS

VALUE-CHAIN ANALYSIS

TOOLS FOR GAINING COMPETITIVE ADVANTAGE: FOCUS ON WHAT MAKES THE COMPANY UNIQUE AND IMPROVE OR ELIMINATE LOW-VALUE ACTIVITIES

CORE OF VALUE-CHAIN ANALYSIS

A FRAMEWORK FOR ANALYZING THE COMPETITIVE ENVIRONMENT

FIVE FORCES MODEL BY MICHAEL PORTER

WHAT ARE THE FIVE FORCES MODEL BY MICHAEL PORTER

1. RIVALRY AMONG COMPETITORS 2. THREAT OF NEW ENTRANTS 3. THREAT OF SUBSTITUTES 4. BARGAINING POWER OF SUPPLIERS 5. BARGAINING POWER OF CUSTOMERS

STRATEGY DEVELOPMENT PROCESS:

ANALYZE THE ENVIRONMENT DETERMINE THE CORPORATE MISSION FORM A STRATEGY

STRATEGY DEVELOPMENT PROCESS: IDENTIFY STRENGTH, WEAKNESSES, OPPORTUNITIES, AND THREATS. UNDERSTANDING THE ENVIRONMENT, CUSTOMERS, INDUSTRY, AND COMPETITORS

ANALYZE THE ENVIRONMENT

STRATEGY DEVELOPMENT PROCESS: REASON FOR THE FIRM'S EXISTENCE AND IDENTIFYING THE VALUE IT WISHES TO CREATE

DETERMINE THE CORPORATE MISSION

STRATEGY DEVELOPMENT PROCESS: BUILD A COMPETITIVE ADVANTAGE, SUCH AS LOW PRICE, DESIGN OR VOLUME FLEXIBILITY, QUALITY, QUICK DELIVERY, DEPENDABILITY, AFTER-SALE SERVICES, OR BOARD PRODUCT LINES

FORM A STRATEGY

EFFICIENT SUPPLY CHAIN AND STORE OPERATIONS TO MAINTAIN FAST SERVICES AND PRODUCT AVAILABILITY NATIONWIDE

KEY SUCCESS FACTORS (KSFs)

after defining strategy, KSFs, and integration, the next step is to organize effectively

BUILDING AND STAFFING THE ORGANIZATION

LETTING ANOTHER COMPANY DO SOME WORK FOR YOU

OUTSOURCING

MAKE-OR-BUY DECISION GUIDES WHETHER TO PRODUCE IN-HOUSE OR OUTSOURCE IT FROM ANOTHER COMPANY

OUTSOURCING

STARTS WITH RISK MANAGEMENT, ANALYZING UNCERTAINLY & MINIMIZING IMPACT

OUTSOURCING RISKS

50% OUTSOURCING DEALS FAIL DUE TO POOR PLANNING & ANALYSIS

OUTSOURCING RISKS