Business Operations
Name 3 business operations
Production planning, site selection and layout, purchasing, quality control, inventory control, scheduling, safety and security, and maintenance and repair
Tracking the amount, kind, and value of items.
What is inventory control?
_______ is a central focus for most businesses today.
Quality Control
What is purchasing?
is the buying of goods and services for a business.
What do operation managers oversee?
all the operation s and processes involved in converting resources into products
Having to wear a welding mask would be an example of which operation
Safety and security
What are the three types of inventory?
Raw materials, partially finished goods, and finished goods
What is quality control?
Ensuring the degree of excellence of a good or service
Purchasers must obtain_____
materials ,products ,and supplies
What would efficiency mean?
keeping the costs low
If a door needs a new lock, if a copier breaks down, if a forklift needs engine work. These are examples of what operation?
Maintenance and repair
The key to inventory control is making sure that inventory is _____ enough for the business to function, but _____ enough not to incur unnecessary expenses
high;low
What are general standards that apply to quality?
Performance, durability, serviceability, conformance
Purchasers for businesses are concerned with obtaining materials, products, and supplies ____ they are needed, in the right _____, and at the best available costs.
when; amounts
What would effectiveness mean
keeping the customers satisfied
If the product need to be in a certain city at a certain time, what operation is that?
Scheduling
What are holding costs?
The money it takes to keep inventory in stock
What is quality inspection?
Products are checked for defects after they’ve already been produced.
What are some examples of day-to-day supplies.
printers, telephones, paper
Operation managers control up to _____% of a firms assets
75
The process of evaluating the costs, labor, and community
Site Selection and layout
What are stock out costs?
These are the costs associated with running out of needed inventory, and they can be considered in terms of lost money and sales, lost productivity, and lost customer satisfaction
What is quality assurance?
preventing defective products from being created in the first place
What are some examples of materials needed to produce goods and services
lumber, chemicals, fuels, plastics, and pharmaceutical goods
What are inputs and outputs?
Inputs are the resources and outputs are the products