Operations Management Exam 1 Study Guide

Operations Management Exam 1 Study Guide - Operations...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Operations Management Exam 1 Study Guide What is OM? Creates and delivers goods and services Designs goods, services, and processes Manages the day-to-day operations of those processes Seeks improvement of goods, services, and processes Success required efficient processes that produce quality goods and services Affects all stakeholders What do Operations Managers do? Forecasting Managing the supply chain Designing facilities, processes, and jobs Selecting technology Managing Quality Purchasing Managing resources and capacity Typical Jobs Chief Operating Officer Hotel Manager Restaurant Manager VP Manufacturing Customer Service Manager Plant Manager Purchasing Manager Supply Chain Manager Relationships to OM Most jobs use aspects of OM Most jobs interface with OM Goods : Physical, tangible products that you can see, touch, and consume Durable Goods : Goods that last at least 3 years Nondurable Goods : Perishable goods which last less than 3 years Services : Activity that does not directly produce a physical product Similarities between Goods and Services Provide value to customers May be standard or custom Created by processes Differences between Goods and Services Goods are tangible, and services are intangible Customers participate in many service processes, activities, and transactions The demand for services is harder to predict than the demand for goods Services cant be used as physical inventory Service Management Skills are essential to a successful service encounter Service Facilities have to be near a customer Patents dont offer protection for services Service Encounter : Interaction between the customer and service provider Moment of Truth : Transaction in which a customer contacts the delivery system Customer Benefit Packages Bundle of goods and services Primary goods and services : Core offerings that attract customers Peripheral goods and services : Not essential, but used to enhance the primary good/service Variants : CBP attributes that differ from the standard CBP (Location/Firm Specific) Biztainment : Entertainment feature attached to a product or service Processes Sequence of activities Means by which goods and services are created and delivered Value Creation Assembly line, service director Support Purchasing, maintenance General Management Finance, Accounting Networked processes create value chains Eras of Operations Management 1960s: Focus on cost and efficiency 1970s: Focus on Quality 1980s: Focus on customization and design 1990s: Focus on time 21 st century: Focus on service and value Cost Minimization-----------------------------------------------------Value Maximization Mass Production-------------------------------------------------------Mass Customization...
View Full Document

Page1 / 30

Operations Management Exam 1 Study Guide - Operations...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online