Production & Labor
Raw materials, capital, and labor
What is production inputs?
Process of maintaining assets and resources while controlling time and cost
What is maintenance management?
Improved efficiency
Increased profitability
Data for decision-making
Reduced costs
What are the benefits of inventory managment?
The process of managing production inputs to produce outputs
What is production managment?
Budgeting
Allocated resources
Compliance/Regulations
Minimize downtime
Extend asset life
What are the objectives of maintenance management?
Avoiding excesses/shortages
What is the objective of inventory management?
Involves planning and managing the workforce to ensure optimal productivity and efficiency.
What is Labor Managment?
DPMO
What is the acronym for Defects Per Million Opportunities?
Tracking, controlling, and managing.
What does inventory management consist of?
To ensure operations run smoothly
What is the reason production management is necessary?
Measurement that focuses on what is actually discarded
What is a scrap rate?
Using machine learning to predict spikes in demand.
What is an example of inventory management?
System helps by analyzing labor data and automating routine tasks
How do Manufacturing Operations Management (MOM) systems help labor management?
Strategies to improve manufacturing quality by identifying and removing the causes of defects and minimizing variability in manufacturing and business processes.
What is Six Sigma?
encompasses the planning and coordination of the entire supply chain
What is supply chain managment?