Finals review cumulative notes

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University of Toronto Scarborough
Management (MGT)
Chris Bovaird

Chapter 1 Service operations production activities that yield tangible and intangible service products (i.e. entertainment, transportation, education) Goods production production activities that yield tangible products (i.e. textbooks, newspaper) Operations/Production management the systematic direction and control of the processes that transform resources into finished goods Production managers managers responsible for ensuring that operations processes create value and provide benefits Operations process a set of methods and technologies used in the production of a good or a service Analytic process any production process in which resources are broken down Synthetic process any production process in which resources are combined High-contact system a system in which the service cannot be provided without the customer being physically in the system (i.e. transit system) Low-contact system a system in which the service can be provided without the customer being physically in the system (i.e. lawn care system) Forecasts estimates of future demand for both new and existing products Capacity the amount of a good that a firm can produce under normal working conditions Process layout a way of organizing production activities such that equipment and people are grouped together according to their function Cellular layout used to produce goods when families of products can follow similar flow paths Product layout a way of organizing production activities such that equipment and people are set up to produce only one type of good Assembly lines a type of product layout in which a partially finished product moves through a plant on a conveyor belt or other equipment U-shaped production lines production layout in which machines are placed in a narrow U shape rather than a straight line Flexible manufacturing system (FMS) a production system that allows a single factory to produce small batches of different goods on the same production line Soft manufacturing reducing huge FMS operations to smaller, more manageable groups of machines Service flow analysis an analysis that shows the process flows that are necessary to provide a service to customers; it allows managers to determine which processes are necessary Master production schedule schedule showing which products will be produced, when production will take place, and what resources will be used Gantt chart production schedule diagramming the steps in a project and specifying the time required for each PERT (program evaluation and review technique) charts production schedule specifying the sequence and critical path for performing the steps in a project Operations control managers monitor production performance by comparing results with plans and schedules Follow-up checking to ensure that production decisions are being implemented Materials management planning, organizing, and controlling the flow of materials from purchase through distribution of finished goods Standardization using standard and uniform components in the production process Transportation the means of transporting resources to the company and finished goods to buyers Warehousing the storage of both incoming materials for production and finished goods for physical distribution to customers Inventory control in materials management, receiving, storing, handling, and counting of all raw materials, partly finished goods, and finished goods Purchasing the acquisition of all the raw materials and services that a company needs to produce its product Holding costs costs of keeping extra supplies or inventory on hand Lead times in purchasing control, the gap between customers placement of an order and the sellers shipment of merchandise Supplier selection finding and determining suppliers to buy from Just-in-time production systems (JIT) a method of inventory control in which materials are acquired and put into production just as they are needed Materials requirement planning (MRP) a method of inventory control in which a computerized bill of materials is used to estimate production needs so that resources are acquired and put into production only as needed Bill of materials production control tool that specifies the necessary ingredients of a product, the order in which they should be combined, and how many of each are needed to make one batch Manufacturing resource planning (MRP II) an advanced version of MRP that ties together all parts of the organization into the companys production activities Quality control the management of the production process so as to manufacture goods or supply services that meet specific quality standards A key difference between production and service operations is the customers involvement in the latter Operations processes is classified by two categories: transformation technology and analytic/synthetic process Transformation technology: chemical process, fabrication process, assembly process, transport process, clerical process Chapter 2 Productivity a measure of efficiency that compares how much is produced with the resources used to product it Quality a products fitness for use in terms of offering the features that consumers want Labour productivity partial productivity ratio calculated by dividing gross domestic product by total number of workers Total quality management (TQM) or quality assurance a concept that emphasizes that no defects are tolerable and that all employees are responsible for maintaining quality standards Performance quality the overall degree of quality; how well the features of a product meet consumers needs and how well the product performs Quality reliability the consistency of quality from unit to unit of a product Quality ownership the concept that quality belongs to each employee who creates or destroys it in producing a good or service; the idea that all workers must take responsibility for producing a quality product Business process re-engineering redesigning of business processes to improve performance, quality, and productivity Supply chain flow of information, materials, and services that starts with raw materials suppliers and continues through other stages in the operations process until the product reaches the end customer
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