Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.
What is the focus of Operation Management quizlet?
Operations management focuses on decisions to manage the transformation process that converts inputs into desired finished goods or services. These decisions are inteded to maximize the value inherent in goods or services delivered to customers throughout the entire supply chain.
What is the focus of operations management Chapter 9?
What is the focus of operations management? Designing, supervising, and improving the transformation process while keeping costs down.
What is a process focus?
Process focus in a factory, these processes might be departments devoted to welding, grinding, and painting. In an office the processes might be accounts payable, sales, and payroll. In a restaurant, they might be bar, grill, and bakery. The process focuses on low volume, high variety products are also called job shop.
What is an important aspect of operations management quizlet?
Which of the following is an important part of operations management? Operations management transforms resources into goods and services, such as a landscape company that utilizes equipment, labor, and materials to develop a landscape. Managing this operation may also involve maintenance services.
Is a specialized area in management that converts?
Operations management is the specialized area in management that converts or transforms resources, including human resources, into goods and services.
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How is crossover point operations management calculated?
Crossover units = (4,000 – 8,000) ÷ (. 03 – . 05) or (-4,000) ÷ (-0.02) which would equal 200,000. This means that at 200,000 copies, the total cost of each of the two machines is equal.
What is the idea of facility layout?
The idea of facility layout is to: Have offices ,machines, and storage areas in the best position to enable workers to produce goods and services for their customers.
How process-focused operations differ from product-focused operations?
In a product-focused organization, the structure relies more on the product groups, while a process-focused organization relies more on a centralized, aligned structure. Product-focused organizations tend to have small staffs, while process-focused organizations employ a large number of people.
What is Focus production?
To focus on production is to create a competitive advantage in reliably and repeatedly bringing disparate elements together into something with more value.
What is a process-focused company?
Process Type: Process-focused organizations design and manage end-to-end processes rather than tasks, measure process results rather than department efficiencies, and think in terms of the customer and related goals rather than functional goals.
Which action is an important part of operations management?
An important part of operations management is production planning. Production planning allows the firm to consider the competitive environment and its own strategic goals to find the best production methods.
What are the major direct responsibilities of operations management?
So operations managers are responsible for managing activities that are part of the production of goods and services. Their direct responsibilities include managing both the operations process, embracing design, planning, control, performance improvement, and operations strategy.
Why is an operations management philosophy so important for success in an organization?
Operations management is the process that generally plans, controls and supervises manufacturing and production processes and service delivery. Operations management is important in a business organization because it helps effectively manage, control and supervise goods, services and people.
What is the role of operations in service businesses?
Operations management for services has the functional responsibility for producing the services of an organization and providing them directly to its customers. It specifically deals with decisions required by operations managers for simultaneous production and consumption of an intangible product.
Which of the following is a reason for studying operations management?
to all firms, whether manufacturing or service. … Learning about a costly part of the enterprise. Reasons to study Operations Management include learning about. How people organize themselves for productive enterprise.
What is the goal of lean manufacturing?
The goal of lean is to eliminate waste—the non-value-added components in any process.
What is a crossover chart?
The crossover is a point on the trading chart in which a security’s price and a technical indicator line intersect, or when two indicators themselves cross. Crossovers are used to estimate the performance of a financial instrument and to predict coming changes in trend, such as reversals or breakouts.
What is Bep operations management?
The break-even point in operations management measures how many units must be sold for the company’s profits on sales to equal its fixed costs. … For example, if your break-even point is significantly higher than the number of units you can sell, you know you need to raise your price per unit or you will lose money.
What is the concept of cross over points?
Definition. The crossover point is the level of enrolments at which the average cost per student (or the total cost) for an open and distance learning programme becomes lower than the average cost per student (or the total cost) for conventional classroom-based education.
What is the meaning of line balancing?
Line balancing is a production strategy that involves balancing operator and machine time to match the production rate to the takt time. Takt time is the rate at which parts or products must be produced in order to meet customer demand.
What are the 4 major types of facility designs used?
There are four main types of facility layouts: process, product, fixed-position, and cellular.
What are the 7 types of layout?
Types of Layouts
- Process Layout. Process layout means the layout which group resources based on the similar processes or functions. …
- Product Layout. …
- Combination Layout. …
- Fixed Layout. …
- Group Technology or Cellular Layout.
How important operation management in the economy and in our daily routine?
Operation Management is important to improve the overall productivity. The ratio of input to output is termed as productivity. … It was found that the manufacturing of raw materials to make the goods and selling them along with management of sales is necessary, and this is done efficiently by managing the operations.
What are the 4 process strategies?
There are four process strategies:
- Process Focus.
- Repetitive Focus.
- Product Focus.
- Mass Customization.
What companies use process focus strategy?
7 companies that forever changed the face of process excellence
- #2: Bell Laboratories. …
- #3: Toyota. …
- #4: Motorola. …
- #5: GE. …
- #6: Dell. …
- #7: Amazon.
What is a focus factory manager?
The Focus Factory Manager will coordinate the development of the people, processes and capabilities within the Focus Factory. This person will report to the Plant Manager and will become a valued member of our manufacturing team therefore, opportunities for advancement are strong.
What are the advantages of focused factories?
The focused factory does a better job because repetition and concentration in one area allow its work force and managers to become effective and experienced in the task required for success. The focused factory is manageable and controllable. Its problems are demanding, but limited in scope.
Why is process focus important?
The process-focused organization will research delivery lead times, on time delivery from their suppliers, and their relationships with other companies. … When a company focuses on their processes, they improve quality, lower the costs, and provide more value and convenience for customers.
What is process type in operations management?
The main manufacturing process types are project, jobbing, batch, line and continuous. Project processes produce products of high variety and low volume. … Jobbing processes produce products of high variety and low volume. Jobbing processes are used to make a one-off (or low volume) product to a customer specification.
What is operations management and why is it important essay?
Operations management (OM) is the business function responsible for managing the process of creation of goods and services. It involves planning, organizing, coordinating, and controlling all the resources needed to produce a company’s goods and services.
What are the 5 performance objectives in operations management?
The five key business performance objectives for any organization include quality, speed, dependability, flexibility, and cost. When it comes to business performance objectives you’re likely aware that efficiency and productivity are crucial.
What are the top 3 important functions of operations management from your understanding?
You can think of operations management as three levels: strategic, tactical, and operations. To achieve the company’s goals, operations managers develop strategies. Under those broad strategies are tactics, or specific tasks and steps to implement the strategies.
Why is operations strategy an important key to success?
Operations strategy provides the ability to improve products, services, and processes. To develop the strategy, consider the business/corporate strategy and a market/needs analysis. Then, consider the competing priorities of cost, quality, time, and flexibility — and how you’ll handle them.
What is Operation Management example?
The Goal of Operations Management
For example, if an organization makes furniture, some of the operations management decisions involve the following: purchasing wood and fabric, hiring and training workers, … purchase cutting tools and other fabrication equipment.
Why service is important in operations management?
By clearly defining compensation and rewards, and communicating the metrics that determine them, service operations can stimulate employee motivation and provide the clarity that people need in order to change their behaviors.