WGU Operations and Supply Chain Management

WGU Operations and Supply Chain Management 5.0 (1 review) Students also studied Terms in this set (167) Social SciencesBusinessBusiness management Save Operations and Supply Chain Mana...245 terms rwdixon1993Preview

PRE-ASSESSMENT: Discovering Dat...

70 terms ShayInParisPreview Supply Chain Management 145 terms colton_webb6Preview Operat 168 term fel5 Shewhart CyclePlan - Capacity Planning, Strategic Plan Do - Supply Chain Management, Forecasting Check - Quality Management, Scheduling Act - Customer Service, Facility Planning Operations ManagementMultidisciplinary science that organization use to acquire inputs (such as people, capital, material or energy) and transform them into outputs (products or services) that ultimately provide value to the end customer.OperationsProcess within organizations that acquire inputs and transform them into outputs for public to consume.Supply Chain Management (SCM)Broadens the definition to include supply (vendors and suppliers), operations (as described above), logistics (transportation), and the integration of information and technology among the supply and operations elements with downstream customers and end-user customers.ProductivityThe control of resources to ensure the effective and efficient use of inputs and to create the goods and services provided to the end-user.Inputsthe resources—such as labor, money, materials, and energy—that are converted into outputs The operations within an organization produce the goods and services that meet the demands of society and create value for the consumers who benefit from the which are worth more to the consumer than the total cost of the .Outputs; Inputs

T/F: Producers of goods and services both acquire and

manage inputs throughout a transformation process that produces a final output.True

T/F: Service providers do not produce products because

they are not part of the manufacturing sector.False - final output for both producers of goods and producers of services represent a good or service, both of which are considered products.Service SectorThe sector of the economy that provides services--such as health care, banking, and education--contrast to the sector that produces goods. ( other examples legal services, transportation, utilities, lodging, entertainment, legal services, education, communications, wholesale and retail trade, public administrations, insurance, and real estate) GoodsArticles of trad, merchandise, or wares.Manufacturingproduction of goods Service Operations88% of US Economy and growing in global economy.Producers of goods exist in manufacturing sector and manage the operations for products such as -------------- ------- that customers value.Bridges are tangible and many are constructed by some level of government, which is part of the public sector.Operations management refers todecision-making processes for the design, planning, and management of the many factors that affect operations.

Operations managers apply ideas and knowledge to: * Decrease production time.

• Increase the speed of bringing new services and goods to market.
• Improve flexibility to meet rapidly changing customer needs.
• Enhance product quality.
• Improve customer service.
• Increase productivity.
• Reduce costs.

How does teamwork in operations benefit or add value to customers?Teamwork in operations benefit the customer when coordinated decisions within an organization produce high quality products that customer value.

T/F: High-quality outputs that add value to customers

represent physical goods, not services.

False: high-quality products, whether a good or service, can create customer

satisfaction and ultimately a competitive advantage in the marketplace.

T/F: Operations in the service and manufacturing sectors

operate independently from each other in creating a value chain that ultimately brings products to customers.

False: The service sector depends on the manufacturing sector in many ways and

their value chain is tightly linked.

T/F: The management of inventory is more important to

producers of goods and producers of services.

False: Managing inventory is important to both producers of goods and

producers of services. They both rely on it in different ways.Designing Products for GoodsRequires consideration of physical properties because goods are tangible.Usually requires training in engineering because strength, durability and performance are important.

Designing Products for ServicesSimilar to goods when involves selling a good, such as food. Quality will be important. Quality also important when service is performed by a person such as a doctor or lawyer.

T/F: Product design is just as important with respect to

producers of products (tangible goods) and producers of service (intangible goods).True Understanding Operations* The value-added nature of operations.

• The impact that technology can have on performance.
• The importance of teamwork in achieving operating and organizational

objectives.Operations Add ValueFor profit organizations - profits and investments in new technology and new facilities - improve operations and lower prices Not-for-profit - improved wealth to society (ex fire protection saves more money in damages than cost of service - makes more money for other wealth-creating activities)

T/F: Operations can only add value when producing a

product for profit.

False: Not-for-profit organizations can add value. The value added to products

represents improved wealth to society. The wealth created or preserved by value- added operations contribute to economic growth and makes more resources available for other wealth-creating activities. This ultimately improves the living standard because more wealth is created than consumed.TechnologyApplication of knowledge, usually in form of recently developed tools, processes, and procedures, to solve problems. Advances in technology make it possible to design and build better products using fewer resources.Product designThe determination of the characteristics, features, and performance of the product.Product technologyApplication of knowledge to improve the product.Advances in technology can help the operations of an organization to design and build better products and relates to .Both tangible goods and intangible services.Operations managers use technology to solve problems that can make life better for consumers. Value for the customer can be enhanced .By using advances in technology that make it possible to design and build better products and processes using fewer resources.Process technologyApplication of knowledge to improve a process. Such as: writing using Microsoft

Word instead of by hand. Using a Computer. Outcome: Easy to change

text/tables. Fonts. Easy storage and retrieval of documents.

Product design and process design are not always independent.Product design decision may dictate the process that should be used.Manager may prefer that product design and process design be completed simultaneously by the same group of people working in closes collaborations - Sometimes called concurrent engineering.Advances in technology can be used to help the

operations of an organization to:

Both: develop new ideas and successfully implement them & create a process that helps an organization accomplish a task.Technologies applied in the operations of both producers of goods and services include both and design.Product & Process A teamwork approach in managing operations . Can help solve quality and productivity problems.Why are team-oriented operations essential today? Because cooperation is necessary to solve quality and productivity problems to remain competitive increasingly global marketplace.

T/F: Team-oriented operations meet the demand for high-

quality, low-cost products that provide advantages only to the organization.

False: Benefit many stakeholders, including the organization, but also labor,

consumers, and management.An Organization's GoalsExplain how designing, planning, and managing operations support organizational goals.Most organizations develop common goals during the --- -------------- process, which is done annually.Budgeting and planning A business process has which of the following unique characteristics that make it key in any organization?It is cross-functional StrategyOperations should be linked to the rest of the organization by developing strategies consistent with the organization's overall strategy. Links can be built into planning process. Plan is list of actions management expects to take. Plan method for allocating organization's resources in relation to opportunities and problems present in environment.An overall strategic plan is needed in organizations because companies must efficiently .Allocate resources Organizational StructureInfrastructure of formal relationships among different functions or subsystems, such as marketing, finance, and operations. Defines lines of communication.Why have IBM, Ford, and Bank of America recently cut hundreds of thousands of white-collar workers?To be able to respond quicker to opportunities.What type of decision making can result in more cross- functional teams?Decentralized Organizational structure will most likely define the . Lines of communication.