Pom Test 1
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55 terms
Terms | Definitions |
|---|---|
 Operations | Refers to manufacturing and service processes that are used to transform the resources employed by a firm into products desired by customers |
| Supporting Facility | Location, decoration, layout, architectural appropriateness, and supporting equipment |
| Facilitating Goods | Variety, consistency, quantity of the physical goods that go with the service. Exp. The food items that accompany a meal service |
| Explicit Services | Training of service personel, consistency of service performance, availability and access to the service, and comprehensiveness of the service |
| Implicit Services | Attitude of the servers, atmosphere, waiting time, status, privacy and security, and convenience |
| Servitization | refers to a company building service activites into its product offerings for its current users, that is, its installed base |
| Triple Bottom Line | Relates to the economic. employee, and enviormental impact of the firm's strategy |
| Operations and Supply Strategy | Setting broad policies and plans for using the resources of a firm to best support the firm's long-term competitive strategy. Exp. Part of a planning process that coordinates operational goals with those of the larger organization |
| Straddling | Occurs when a firm seeks to match what a competitor is doing by adding new features, services, or technologies to existing activities. This often creates problems if certain trade-offs need to be made |
| Order Winner | A dimension that differentiates the products or services of one firm from those of another |
| Order Qualifier | A dimension used to screen a product or service as a candidate for purchase |
| Activity-System Maps | A diagram that shows how a company's strategy is delivered through a set of supporting activties |
| Productivity | A measure of how well resources are used |
| Strategic Capacity Planning | Determining the overall capacity level of capital-intensive resources that best supports the company's long-range competitive strategy. Exp. Facilities, equipment, and overall labor force size |
| Capacity | The amount of output that a system is capable of achieving over a specific period of time |
| Best Operating Level | The level of capacity for which the process was designed and the volume of output at which average unit cost is minimized |
| Capacity Utilization Rate | Measures how close a firm is to its best operating level Capacity Used/Best Operating Level |
| Econmies of Scale | The notion is that as a plant gets larger and volume increases, the average cost per unit drops |
| Focused Factory | A facility with a fairly limited set of produciton objectives. Typically the focus would relate to a specific product or product group |
| Plant within a plant (PWP) | A concept that can be used to operationalize a focused factory be designating a specific area in a larger plant |
| Economies of Scope | Exist when multiple products can be produced at a lower cost in combination than they can separately |
| Capacity Cushion | Capacity in excess of expected demand |
| Planning | The processes needed to operate an existing supply chain strategically |
| Sourcing | The selection of suppliers that will deliver the goods and services needed to create the firm's product |
| Making | Where the major product is produced or the service provided |
| Delivering | Carriers are picked to move products to warehouses and customers |
| Returning | The processes for receiving worn-out, defective, and excess products back from customers |
| Efficiency | Doing something at the lowest possible cost |
| Effectiveness | Doing the right things to create the most value for the company |
| Value | Quality divided by price |
| Shareholders | Those individuals or companies that legally own one or more shares of stock in the company |
| Stakeholders | Those individuals or organizations who are influenced, either directly or indirectly, by the actions of the firm. Exp. Creditors, employees, customers, and suppliers |
| Social (TBL) | Pertains to fair and beneficial business practices toward labor, the community, and the region in which a firm conducts is business |
| Economic (TBL) | The firm's obligation to compensate shareholders who provide capital via competitive returns on investment |
| Enviormental (TBL) | The firm's impact on the environment |
| Competitive Dimensions | Price, quality, delivery speed, delivery reliability, Flexibility and new product introduction speed |
| Price | Make the product or deliver the service cheap |
| Quality | Make a great product or deliver a great service |
| Delivery Speed | Make the product or deliver the service quickly |
| Delivery Reliability | Deliver it when promised Coping with changes in demand: change its volume |
| Flexibility and new product introduction speed | Change it |
| Capacity Planning Time durations | Long range, Intermediate Range, short range |
| Long Range | Greater than one year |
| Intermediate Range | Monthly or quarterly plans for the next six to 18 months |
| Short Range | Less than one month |
| Capacity flexibility | The ability to rapidly increase or decrease production levels or to shift production capacity quickly from one product or service to another. Exp. Flexible plants: low changeover times, Flexible processes: easily set up equipment, Flexible workers: workers have multiple skills |
| Decison Tree | A schematic model of the sequence of steps in a problem and the conditions and consequences of each step |
| Section 1 | Strategy and Sustainability |
| Section 2 | Manufacturing and service processes |
| Section 3 | Supply chain processes |
| Section 4 | Supply and demand planning |
| Business Process Reengineering | An approach that seeks to make revolutionary changes as opposed to evolutionary changers |
| Lean Manufacturing | An approach that combines TQM and JIT |
| Six-Sigma Quality | Tools that are taught to managers in "Green and Black belt programs" |
| Total Quality Control | A philisophy which agressively seeks to eliminate causes of production defects |
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