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gms Final: GMS 401 Final: FALL 2015 FINAL EXAM REVIEW- GMS definition


Department
Global Management Studies
Course Code
GMS 200
Professor
Wally Whistance- Smith
Study Guide
Final

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FINAL EXAM – FALL 2015
My final exam was mostly based on definitions.
Chapter 1: Operation Management
Operations management: The management of processes/systems that create goods and/or
provide services
Process: a series of linked actions, changes, or functions bringing about a result
Efficiency: operating at minimum cost and time
Effectiveness: achieving quality and responsiveness
Value added: the difference between the cost of inputs and the value/price of outputs
Lead time: the time between ordering a good/service and receiving it
Model: an abstraction of reality; a simplified representation of something
System: a set of interrelated parts that must work together
Pareto phenomenon: a few factors account for a high percentage of results achieved
Craft production: system in which highly skilled workers use simple, flexible tools to produce
small quantities of customized goods
Division of labour: breaking up a production process into small tasks so that each worker
performs a small portion of the overall job
Interchangeable parts: parts of a product made to such precision that they do not have to be
custom fitted
Mass production: system in which lower-skilled workers use specialized machinery to produce
high volumes of standardized goods
Total quality management: involving every employee in a continual effort to improve quality
and satisfy the customers
Lean production: system that uses minimal amounts of resources to produce a high volume of
high-quality goods with some variety
E-commerce: use of the internet and other electronic networks to buy and sell goods & services
Supply chain: a sequence of activities and organizations involved in producing and delivering a
good or service
Chapter 2: Productivity, Competitive and Strategy
Competitiveness: ability and performance of an organization in the marketplace compared to
other organizations that offer similar goods or services
Strategy: the long-term plans that determine the direction an organization takes to become (or
remain) competitive
Strategic planning: the managerial process that determines a strategy for the organization

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Key purchasing criteria: the major elements influencing a purchase: price, quality, variety &
time
Order qualifiers: purchasing criteria that customers perceive as minimum standards of
acceptability to be considered for purchase
Order winners: purchasing criteria that cause the organization to be perceived as better than
the competition
Competitive priorities: the importance given to operations characteristics: cost, quality,
flexibility and delivery
Mission: where the organization is going now
Vision: where the organization desires to be in the future
Values: shared beliefs of the organization’s stakeholders
Tactics: medium-term plans used as components of a strategy
Action plan: a medium/short term project to accomplish a specific objective, assigned to an
individual, with a deadline and the resources needed
Operations strategy: the approach that is used to guide the operations functions
Time-based competition: strategy that focuses on reduction of time needed to accomplish
tasks
Outsourcing: buying a part of a good/service or a segment of production/service process from
another company, a supplier
Productivity: a measure of productive use of resources, usually expressed as the ratio of
output to input
Chapter 3: Product and Service Design
Product design: determining the form and function of the product
Reverse engineering: dismantling a competitor’s product to discover what it is composed of
and how the components work, searching for own-product improvements
R&D: lab scientists and engineers involved in creative work on a systematic basis to increase
knowledge directed toward product and process innovation
Life cycle: incubation, growth, maturity, saturation, and decline
Standardization: extent to which there is absence of variety in a part or product
Mass customization: producing basically standardized goods/service but incorporating some
degree of customization
Delayed differentiation: producing, but not quite completing, a product until customer
preferences are known
Modular design: parts are grouped into modules that are easily replaced or interchanged. The
product is composed of a # of modules/components instead of a collection of individual parts

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Reliability: the ability of a product, part, or system to perform its intended function under normal
conditions
Failure: situation in which a product, part, or system does not perform as intended
Robust design: design that can function over a broad range of conditions
Product liability: a manufacturer is liable for any injuries or damages caused by a faulty
product
Remanufacturing: refurbishing used products by replacing worn-out/defective components
Design for disassembly: design so that used products can be easily taken apart
Recycling: revering materials for future use
Concurrent engineering: bringing engineering design, manufacturing engineers, and staff from
marketing, manufacturing, and purchasing together early in the design phase
Computer-aided design (CAD): product design using computer graphics
Design for manufacturing (DFM): takes into account the organization’s manufacturing
capabilities when designing a product
Design for assembly (DFA): focuses on reducing the number of parts in a product and on
assembly methods and sequence
Quality function deployment (QFD): a structured approach that integrates the “voice of the
customer” into product design
Chapter 4: Process Design
Process design: determining the form and function of how goods or services are produced
Make or buy: decide whether to make a part or product in-house or to buy it or a segment of
production progress from another company
Job shop: a process type used when a low quantity of high-variety customized goods or
services is needed
Batch process: a type of process used when a moderate volume and variety of goods or
services is desired
Repetitive process: a type of process used when higher quantities of more standardized goods
or services are needed
Production line: a sequence of machines/workstations that perform operations on a
part/product
Assembly line: a production line where parts are added to a product sequentially
Continuous process: used when a high volume of highly standardized output is required
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