Syllabus
What are the 2 strategic roles of operations management
cost leadership, good/service differentiation
Give an example of inventory cost
Back order • Logistics and distribution • Storage • Inventory management • Insurance • Deterioration • Shrinkage and theft • Damaged goods
Define globalisation in operations
refers to the removal of barriers of trade between nations a high degree of transfer of capital (facilities and/or machinery), labour, intellectual capital and ideas, financial resources and technology.
What are the 3 transformed resources
Materials, Information, Customers
What is dependability
Also referred to as reliability, dependability, as a performance objective, refers to how consistent and reliable
What are the 2 dash points under 'output'
outputs – customer service – warranties
Define cost leadership
involves aiming to have the lowest costs or to be the most price-competitive in the market
What does CSR stand for
Corporate Social Responsibility
Would plant and machinery be transforming or transformed
transforming
What is quality of conformance
Quality of conformance is the focus on how well the product meets the standard of a prescribed design with certain specifications.
List all strategies covered in our exam
performance objectives – quality, speed, dependability, flexibility, customisation, cost
new product or service design and development
supply chain management – logistics, e-commerce, global sourcing
outsourcing – advantages and disadvantages
technology – leading edge, established
Define differentiation
product differentiation distinguishing products (goods or services) in some way from those of competitors
what is cost-based competition
strategies to create cost advantages over competitors and offer lower prices or wider profit margins
Give an example of a business/industry that experiences significant 'variation in demand'
seasonal businesses (winter goods, ice cream)
What is the first step in creating a new product?
Market research
List all the influences of operations (both dot points)
globalisation, technology, quality expectations, cost-based competition, government policies, legal regulation, environmental sustainability corporate social responsibility
Define standardisation
refers to the making of products that are homogeneous or identical
Name 2 legal requirements relating to employees
work health and safety, specific training, fair work, anti-discrimination
A critical path is 20 days long. A task on the critical path was delayed by 6 days, how long is the new critical path?
26 days
What are logistics
a term broadly referring to distribution but includes transportation (including transportation modes), the use of storage, warehousing and distribution centres, materials
transformation processes
– the influence of _____, _____, _____ and _____ (customer contact)
– sequencing and scheduling – ______, ________
– technology, __________ and ______layout
– monitoring, control and improvement
transformation processes
– the influence of volume, variety, variation in demand and visibility (customer contact)
– sequencing and scheduling
– Gantt charts, critical path analysis
– technology, task design and process layout
– monitoring, control and improvemen
What are tangibility and perishability
have a physical dimension in that they can be seen, moved, touched and stored & perishable in that they may spoil if not used
What is the difference between legal compliance and ethical responsibility
Legal compliance - minimum requirements set out by law. Ethical responsibility - going above requirement to do the right thing
What type of layout is best for a high-volume, low customisation manufacturing business
Product layout (assembly line)
Give an example of 1 leading edge and 1 established technology in a real business
MR ISMAIL WILL DECIDE