Concepts
What is productivity?
Refers to the relationship between output (goods/services) and inputs used to produce them.
What is the input in production process?
Resources used to create products.
Waste in operations refers to...
Any activity that adds cost but not value.
KPI is a acronym that means...
Key Performance Indicators
What does the acronym SCM refers?
Supply Chain Management.
What is operations management?
Is the planning, organizing, and controlling of processes used to produce goods/services efficiently
Output in production process refers to:
Final product/service delivered to customers.
Ensuring that the delivered product/service meets customer expectations.
What is standarization?
Using consistent methods ans specifications to ensure quality and efficiency.
What is the final goal of SCM?
Consumer
What is the lean production?
A method focused on reducing waste by keeping high quality.
Why do companies measure productivity?
To evaluate performance, identify inefficiencies , and improve processes.
What role does technology play in operations managemnet?
It improves accuracy, speed, coordination and production efficiency.
Why do Co. measure productivity?
To evalute performance, identify inefficiencies and improve processes.
Storage centers refers to the action of...
Place and kept finished products before distribuition.
What is productivity in a business context?
Refers to the relationship between the resources used and the results obtained. Determine how how efficiently a Co. uses its resources.
What the objective of a production strategy?
Define how goods/ services will be produced to meet organizational goals.
Why is teamwork important in operations?
Collaboration improves coordination, efficiency, problem solving, etc.
1) Identify Objectives 2) Determine relevant metrics 3) Set concrete goals 4) Monitor and adjust
What are the stages of SCM?
Manufacturing, Storage center, Distribuition & Consumer.
What does the acronym TFP refer to? Include the formula
Total Factor Productivity =Total output/(Labor + capital+ materials)
What CRM is used for productivity measument. Add an example.
Hubspot or Salesforce help analyze productivity in sales and customer service.
Operations management support business strategy because:
Aligns production with business goals, ensuring competitiveness and log-term success.
Mnetion the types of KPI and explain each one of them.
Strategic: Monitor towards objectives.
Operational: Measures processes performance.
Mention the 2 types of SCM and explain each one of them.
Integrated- All components are synchronized.
Decentrtalized- components work indepently