Terms in this set (21)The major decisions involved in design planning deal with: Sets with similar termsSets found in the same folderOther sets by this creatorRecommended textbook solutions
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Terms in this set (54)Three important aspects of operations management 1) Developing ideas for new products Operations management Consists of all the activities required to produce goods and services. Three major factors explain why employment in this economic sector has declined. 1) Many of the U.S. manufacturing jobs that were lost were outsourced to low- wage workers in nations where there are few labor, safety, and environmental regulations. 1) It costs about 20 percent more to manufacture goods in the United States than it does anywhere else in the world. 3) The number of unemployed factory workers increased during the economic crisis that began in 2008 because of decreased consumer demand for manufactured goods. Although the number of jobs in manufacturing has increased during the economic recovery, manufacturing employment is close to all-time lows. 1) Innovation—finding a better way to produce products—is the key factor that has enabled American manufacturers to compete in
the global marketplace. Although the number of manufacturing jobs has declined, productivity has increased. At least two very important factors account for increases in productivity: Reshoring Sometimes referred to as onshoring or insourcing, describes a situation where U.S. manufacturers bring manufacturing jobs back to the United States. Primary reasons why U.S. firms are "coming back home" 1) Increasing labor costs in foreign nations The bottom line: The global marketplace has never been more competitive and successful U.S. firms will focus on the following 1) Meeting the needs of customers and improving product quality Mass production A manufacturing process that lowers the cost required to produce a large number of identical or similar products over a long period of time. Analytics process Breaks raw materials into different component parts. For example, a barrel of crude oil refined by Marathon Oil Corporation—a Texas-based oil and energy exploration company—can be broken down into gasoline, oil, lubricants, and many other petroleum by-products Synthetic process The opposite of the analytical one; it combines raw materials or components to create a finished product. Example, Black & Decker uses this process when it combines plastic, steel, rechargeable batteries, and other components to produce a cordless drill. Today's successful operations managers must: 1) Be able to motivate and lead people Utility The ability of a good or service to satisfy a human need. Four types of utilities 1) Form Form utility Is created by people converting raw materials, finances, and information into finished products. Three ways to describe conversion 1) The resource or resources that make up the major or most important input Service economy One in which more effort is devoted to the production of services than to the production of goods. The production of services is very different from the production of manufactured goods in the following five ways: 1) When
compared to manufactured goods, customers are much more involved in obtaining the service they want or need Research and development (R&D) Involves a set of activities intended to identify new ideas that have the potential to result in new goods and services. Three type of general R&D 1)
Basic research - consists of activities aimed at uncovering new knowledge. The goal of basic research is scientific advancement, without regard for its potential use in the development of goods and services. 1) Design planning Once a new idea for a product or service has been identified, planning for production involves three different phases: Design planning The development of a plan for converting an idea into an actual product or service. Product line A group of similar products that differ only in relatively minor characteristics. Product design The process of creating a set of specifications from which a product can be produced. Capacity The amount of products or services that an organization can produce in a given period of time. Labor-intensive technology A process in which people must do most of the work. Capital-intensive technology A process in which machines and equipment do most of the work. In determining where to locate production facilities, management must consider a number of variables, including the following: 1) Locations of major customers and suppliers. Plant layout The arrangement of machinery, equipment, and personnel within a production facility. Three general types of plant layout 1) Process layout - Used when different operations are required for creating small batches of
different products or working on different parts of a product. The plant is arranged so that each operation is performed in its own particular area. Planning horizon Simply the time period during which an operational plan will be in effect. A common amount of time for production plans is one year. Operational planning steps (4) 1) Planning horizon Market demand The quantity of product that customers will purchase at the going price. This quantity must be estimated for the time period covered by the planning horizon. 1) purchasing Four important areas of operations control: The choice of suppliers should result from careful analysis of a number of factors. The following are especially critical: 1) Price Operations managers are concerned with three types of inventories: 1) raw materials
inventory - consists of materials that will become part of the product during the production process Inventory control The process of managing inventories in such a way as to minimize inventory costs, including both holding costs and potential stock-out costs. Materials requirements planning (MRP) A computerized system that integrates production planning and inventory control. One of the great advantages of this system is its ability to juggle delivery schedules and lead times effectively. Just-in-time-inventory system (JIT) Designed to ensure that materials or supplies arrive at a facility just when they are needed so that storage and holding costs are minimized. Scheduling The process of ensuring that materials and other resources are at the right place at the right time. Quality control The process of ensuring that goods and services are produced in accordance with design specifications.
Malcolm Baldrige National Quality Award Given by the President of the United States to organizations judged to be outstanding in specific managerial tasks that lead to improved quality for both products and services. Quality circle A team of employees who meet on company time to solve problems of product quality. Inspection The examination of the quality of work-in-process. Sigma six A disciplined approach that relies on statistical data and improved methods to eliminate defects for a firm's products and services. Although many experts agree that this is similar to TQM, it often has more top-level support, much more teamwork, and a new corporate attitude or culture. International Organization for Standardization (ISO) A network of national standards institutes and similar organizations from over 160 different countries that is charged with developing standards for quality products and services that are traded throughout the globe. Nongovernmental organization with headquarters in Geneva, Switzerland, was created. Lean manufacturing A concept built on the idea of eliminating waste from all of the activities required to produce a good or service. Automation The total or near-total use of machines to do work. Robotics The use of programmable machines to perform a variety of tasks by manipulating materials and tools. Computer aided design (CAD) The use of computers to aid in the development of products. Computer aided manufacturer (CAM) The use of computers to plan and control manufacturing processes. Computer integrated manufacturing (CIM) A computer system that not only helps to design products but also controls the machinery needed to produce the finished product. Continuous process A manufacturing process in which a firm produces the same product(s) over a long period of time. Flexible manufacturing system (FMS) Combines electronic machines and CIM in a single production system. Instead of having to spend large amounts of time and effort to retool the traditional mechanical equipment on an assembly line for each new product, and this is rearranged simply by reprogramming electronic machines. Intermittent process A manufacturing process in which a firm's manufacturing machines and equipment are changed to produce different products. Sets with similar termsChapter 6: Producing Quality Goods and Services56 terms tsilva0307 Intro to Business chapter 851 terms Cori_Jane Intro to Business Ch. 854 terms elaws01 Intro to Business Chapter 846 terms hebbert1428 Sets found in the same folderChapter 1 - Exploring the world of business and ec…70 terms exxieburn Chapter 2 - Being ethical and socially responsible31 terms exxieburn Chapter 6: Understanding the Management Process46 terms cblwong Chapter 3 - Exploring Global Business41 terms exxieburn Other sets by this creatorChapter 7 - Consumers, Producers, and the Efficien…19 terms exxieburn Chapter 1 - Ten Principles of Economics24 terms exxieburn Chapter 6 - Supply, Demand, and Government Policies15 terms exxieburn Chapter 5 - Elasticity and Its Application26 terms exxieburn Verified questions
ENGINEERING Design a series RLC circuit which produces an exponentially damped sinusoidal pulse with a peak voltage of 1.5 V and at least two additional peaks with voltage magnitude greater than 0.8 V. Verify your design with an appropriate PSpice simulation. Verified answer ENGINEERING Explain how vapor pressure of the ambient air is determined when the temperature, total pressure, and the relative humidity of air are given. Verified answer
ENGINEERING A steady, two-dimensional, incompressible flow field in the xy-plane has the following stream function: $\psi =ax^2+bxy + cy^2$, where a, b, and c are constants. (a) Obtain expressions for velocity components u and v. (b) Verify that the flow field satisfies the incompressible continuity equation. Verified answer
ENGINEERING What are three factors that affect the amount of alcohol in a person? Verified answer Recommended textbook solutions
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What is one difference between manufacturers and service providers quizlet?Manufacturers implies a firm that makes tangible goods. While service providers produces more tangible outputs such as U.S postal service.
What is the management of the production conversion process for both goods and services?Operations management is the administration of business practices to create the highest level of efficiency possible within an organization. Operations management is concerned with converting materials and labor into goods and services as efficiently as possible.
What is the difference between production and operations quizlet?What is the difference between production and operations? Production involves the actual process of creating goods and services. Operations describe the full range of management activities that enable a company to be profitable and sustainable.
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How is the production of services similar to the production of manufactured goods quizlet?
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