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MGTA02H3 (363)


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Management (MGT)
Chris Bovaird

Chapter 1 Service operations - production activities that yield intangible services. Goods production - production activities that yield tangible products. Operations (production) management - systematic direction and control of the processes that transform resources into finished goods and services. 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 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 services cannot be provided without the customer being physically in the system. Low-contact system – a system in which the services can be provided without the customer being physically in the system. Forecast – 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 – 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 – way of organizing production activities such that equipment and people are set up to produce only one type of good. Assembly line – type of product layout in which partially finished goods move through a plant on a conveyor belt or other equipment. Service flow analysis – analysis that shows the process flows that are necessary to provide a service to a customer; 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 chart - production schedule specifying the sequence and critical path for performing the steps in a project. Operations Control - managers monitor production performances 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 to distribution of finished goods Standardization - using standard and uniform components in the production process. Transportation - means of transporting resources to the company and finished goods to buyers. Warehousing - storage of both incoming materials for production and finished goods for physical distribution to buyers. Inventory control - in materials management, receiving, storing, handling, and counting of all raw materials, partly finished goods, and finished goods. Purchasing - acquisition of all the raw materials and services that a company needs to produce its products. Holding costs - costs of keeping extra supplies or inventory on hand. Lead times - in purchasing control, the gap between the customer’s placement of an order and the seller’s shipment of merchandise. Supplier selection - finding and determining suppliers to buy from. JIT production system - Just-in-time method of inventory control in which materials are acquired and put into production just as they are needed. Chapter 2 Productivity – measure of efficiency that compares how much is produced with the resources used to produce it Quality - product’s 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 - concept that emphasises that no defects are tolerable and that all employees are responsible for maintaining quality standards. Performance quality - overall degree of quality; how well the features of a product meet consumers’ needs and how well the product performs. Quality reliability - consistency of quality from unit to unit of a product. Quality ownership - 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. Supply chain Management - principle of looking at the chain as a whole to improve the overall flow through the system. Chapter 3 Information manager - manager responsible for the activities needed to generate, analyse, and disseminate information that a company needs to make good decisions. Information Management - internal operation that arranges the firm’s information resources to support business performance and outcomes. Data - raw facts and figures. Information - a meaningful, useful interpretation of data. Information system - an organized method of transforming data into information that can be used for decision making. Electronic information Technologies - information system applications based on telecommunications technologies. Fax machine - a machine that can quickly transmit a copy of documents or graphics over telephone lines. Voice mail - a computer-based system for receiving and delivering incoming telephone calls. Email system - electronic transfer of letters, reports, and other information between computers. Electronic Conferencing - allows people to communicate simultaneously from different locations via telephone, video, or email group software. Groupware - a system that allows two or more individuals to communicate electronically between desktop PCs. Data communication Networks - global networks that permit users to send electronic messages quickly and economically. Internet - giganti
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