Operations Management — definition?
Function responsible for producing goods/services.
Operations processes — role?
Transform inputs into outputs efficiently.
Inputs — examples?
Raw materials, labor, equipment, information.
Outputs — purpose?
Deliver value and meet customer needs.
Value creation — focus?
Outputs fulfilling customer expectations.
Scope of operations management?
Design, operate, improve productive systems.
Manufacturing vs Service — difference?
Tangible products vs intangible services.
Process measurement — importance?
Evaluate efficiency and effectiveness.
Performance measures — types?
Financial, external, internal.
Operations strategy — purpose?
Aligns operations with business goals.
Competitive priorities — examples?
Cost, quality, flexibility, delivery.
Product attributes — influence?
Shape process design and capabilities.
Process competencies — define?
Operational abilities to deliver product attributes.
Strategic positioning — mapping?
Product portfolio along key attributes.
Operational effectiveness — role?
Supports strategic positioning and competitiveness.
Trade-offs — meaning?
Sacrificing one aspect to improve another.
Cost leadership — focus?
Minimize costs, compete on price.
Differentiation — emphasis?
Unique features, flexibility, quick delivery.
Order qualifiers — role?
Minimum standards to be considered.
Order winners — significance?
Attributes that attract customers and win orders.
Answer 10 questions on Fundamentals of Operations Management.
1. How should an operations manager apply the fundamental principles of operations management to enhance a production system?
2. Which of the following are considered inputs in operations processes?
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