Operations Management
Converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization in known as __________ management?
operations
When materials arrive just in time to enter the manufacturing process this is known as _______ production?
(JIT) Just In Time
________ firms provide intangible products that are often customized to satisfy specific needs.
Service
Most manufactured goods are __________ meaning there is no customization they are all the same.
standardized
The steps that a company takes to ensure that its goods or services are of sufficiently high quality to meet customers’ needs is known as:
TQM
Production Planning, Production Control and Quality Control are 3 main responsibilities of?
operations management
______ ______ ______ is a software tool used to determine material needs?
material requirements planning (MRP)
Unlike manufactured goods, many services are bought and ______ at the same time.
consumed
What types of products do manufacturing companies produce?
tangible
Customer satisfaction, Employee involvement and Continuous improvement are all task related to?
Total Quality Management (TQM)
Determining, how goods will be produced, where production will take place and how manufacturing facilities will be laid out are responsibilities of _________ planning.
production
Use of computers (or workstations) to aid in the creation, modification, analysis, or optimization of a design is ______ - _____ design.
Computer-Aided Design
Estimating capacity needs for a service business is _______________ difficult than for a manufacturer because service providers can’t store their services for later use.
more
Identify the 2 components necessary for striking a balance through inventory control.
1. _________ production
2. _________ money
Losing production
Wasting money
The following are advantages of?
Management team can devote attention to refining its product design and designing future products.
Save companies money by using lower cost, specialized labor, located domestically or abroad.
Outsourcing
Continually schedule and monitor the activities that make up the process, Soliciting and responding to feedback, making adjustments where needed and Overseeing the purchasing of raw materials and the handling of inventories is referred to _________ control.
Production
Software system that determines the steps needed to produce the component and instructs the machines that do the work is ______ - _______ manufacturing?
Computer-Aided
Services are often ____________ to satisfy the specific needs of a customer.
customized
Manufacturers may _________ meet customers that utilize their products.
never
Examples of how service companies utilize outsourcing could include?
Food services
Maintenance
Printing
Grounds keeping
Security
Ensuring that goods are produced according to specifications and that quality standards are maintained is known as __________ control.
Quality
Automating and integrating all aspects of a company’s operations, these systems have taken the integration of computer-aided design and manufacturing to a higher level—and are in fact revolutionizing the production process is known as _________ - _________ manufacturing.
Computer-Integrated Manufacturing
Service companies provide this type of good/service that is unable to be touched or grasped; not having physical presence.
intangible
In manufacturing, managers focus on scheduling the activities needed to transform ________ materials into finished goods.
raw
Saving companies money by using lower cost, specialized labor, located domestically or abroad is an ________ of outsourcing
advantage