Operations Management Exam 1

  1. The science and art of ensuring that goods and services are created and delivered successfully to customers. Includes the design of goods, services, and the processes that create them; the day-to-day management of those processes; and the continual improvement of these goods, services, and processes.
    Operations Management
  2. Operations Management depends on:
    Efficiency, cost of operations, quality of goods
  3. When a new product was to be introduced, the best way to produce it had to be determined. This invoked charting the detailed steps needed to make the product.
    Process Design
  4. Inventory was tightly controlled to keep cost down and to avoid production that wasnt needed. Inventory was taken every four weeks and adjusted in the inventory management system accordingly.
    Inventory Management
  5. Production schedules were created to ensure that enough product was available for both retail and wholesale customers, taking into account such factors as current inventory and soap production capacity
  6. Each product was inspected and had to conform to the highest quality standards. If a product did not conform to standards (e.g., wrong color, improper packaging, improper labeling, improper weight, size, or shape), it was removed from inventory to determine where the process broke down and to initiate corrective action.
    Quality Management
  7. Representing the plastic card production area in all meetings, developing annual budgets and staffing plans, and watching technology that might affect the production of plastic credit cards
    Planning and Budgeting
  8. Physical product that a person sees, touches, or consumes
  9. Product that does not quickly wear out and lasts at least three years
    Durable Good
  10. Product that perishes and lasts for less than three years
    Non-durable Good
  11. Primary or complementary activity that does not directly produce a physical product
  12. Is an interaction between the customer and the service provider
    Service encounter
  13. Are episodes, transactions, or experiences in which a customer comes into contact with any aspect of the delivery system, however, remote and thereby has an opportunity to form an impression
    Moments of truth
  14. Integrates marketing, human resources, and operations functions to plan, create, and deliver goods and services, and their associated service encounters
    Service Management
  15. Is the perception of the benefits associated with a good, service, or bundle of goods and services in relation to what buyers are willing to pay for them.
  16. A clearly defined set of tangible (goods-content) and intangible (service-content) features that the customer recognizes, pays for, uses, or experiences
    Customer benefit package (CBP)
  17. The "core" offering that attracts customers and responds to their basic needs
    Primary good or service
  18. Are those that are not are not essential to the primary good or service, but enhance it.
    Peripheral goods or services
  19. A CBP feature that departs from the standard CBP and is normally location or firm specific
  20. A network of facilities and processes that describes the flow of materials, finished goods, services, information, and financial transactions from suppliers, through the facilities and processes that create goods and services, and those that deliver them to the customer.
    Value chain
  21. The portion of the value chain that focuses primarily on the physical movement of goods and materials, and supporting flows of information and financial transactions through the supply, production, and distribution processes.
    Supply Chain
  22. Is a sequence of activities that is intended to create a certain result
  23. Are warehouses that act as intermediaries between factories and customers, shipping directly to customers or to retail stores where products are made available to customers
    Distribution centers (DCs)
  24. Refers to raw materials, work-in-process, or finished goods that are maintained to support production or satisfy customer demand
  25. Refers to an organization's ability to strategically address current business needs and successfully develop a long-term strategy that embraces opportunities and manages risk for all products, systems, supply chains, and processes to preserve resources for future generations
  26. An organization's commitment to the long-term quality of our environment
    Environmental sustainability
  27. An organization's commitment to maintain healthy communities and a society that improves the quality of life
    Social sustainability
  28. An organization's commitment to address current business needs and economic vitality, and to have the agility and strategic management to prepare successfully for future business, markets, and operating environments
    Economic sustainability
  29. A process of transforming data into actions through analysis and insights in the context of organizational decision making and problem solving.
    Business analytics
  30. The act of quantifying the performance of organizational units, goods and services, processes, people, and other business activities
  31. Provides a company with customer ratings of specific goods and service features and indicates the relationship between those ratings and the customer's likely future buying behavior.
    Customer-satisfaction measurement system
  32. Measures the degree to which the output of a process meets customer requirements
  33. Relates to the physical performance and characteristics of a good
    Goods quality
  34. Consistently meeting or exceeding customer expectations (external focus) and service-delivery system performance (internal focus) for all service encounters
    Service quality
  35. Errors in service creation and delivery are sometimes
    Service upsets or Service failures
  36. The time it takes to perform some task
    Processing time
  37. A fancy word for wait time---the time spent waiting
    Queue time
  38. The ability to develop a wide range of customized goods or services to meet different or changing customer needs
  39. The ability to develop a wide range of customized goods or services to meet different or changing customer needs
    Goods and service design flexibility
  40. The ability to respond quickly to changes in the volume and type of demand
    Volume flexibility
  41. Refers to the ability to create new and unique goods and services that delight customers and create competitive advantage
  42. Refers to creating, acquiring, and transferring knowledge, and modifying the behavior of employees in response to internal and external change.
  43. The ratio of the output of a process to the input
  44. The ability to provide goods and services to customers with minimum waste and maximum utilization of resources
    Operational efficiency
  45. Refers to the measurement of enviromental, social, and economic sustainability
    Triple Bottom Line (TBL or 3BL)
  46. The quantitative modeling of cause-and-effect relationships between external and internal performance criteria is called...
  47. Quantfies the total revenue or profit each target market customer generates over the buyer's life cycle
    Value of a loyal customer (VLC)
  48. Provide the basis for decisions at the level at which they are applied
    Actionable measures
  49. Denotes a firm's ability to achieve market and financial superiority over its competitors
    Competitive advantage
  50. Basic customer expectations are generally considered the minimum performance level required to stay in business and are often called...
    Order qualifiers
  51. Goods and service features and performance characteristics that differentiate one customer benefit package from another and win the customer's business
    Order winners
  52. Those that a customer can determine prior to purchasing the goods and/or services
    Search attributes
  53. Are those that can be discerned only after purchase or during consumption or use
    Experience attributes
  54. Any aspects of a good or service that the customer must believe in but cannot personally evaluate even after purchase and consumption
    Credence attributes
  55. Represent the strategic emphasis that a firm places on certain performance measures and operational capabilities within a value chain
    Competitive priorities
  56. Being able to make whatever goods and services the customer wants, at any volume, at any time for anybody, and for a global organization, from any place in the world
    Mass customization
  57. The discovery and practical application or commericialization of a device, method, or idea that differs from existing norms
  58. A pattern or plan that integrates an organization's major goals, policies, and action sequences into a cohesive whole
  59. Are the strengths that are unique to an organization
    Core competencies
  60. The set of decisions across the value chain that supports the implementation of higher-level business strategies
    Operations strategy
  61. The decisions management must make as to what type of process structure is best suited to produce goods or create services
    Operations design choices
  62. Focuses on the nonprocess features and capabilities of the organization and includes the workforce, operating plans and control systems, quality control, organizational structure, compensation systems, learning and innovation systems, and support services
Card Set
Operations Management Exam 1