Key Terms or Operation Management

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KEY TERMS

Production Organization:
Organization that produces tangible goods that can be mass-produced and stored for later consumption.

Service Organization:
Organization that produces intangible goods that require consumer participation and cannot be stored.

Operation Management:
Complex management activity that includes planning production, organizing resources, directing operations and personal and monitoring system performance.

Productivity:
Measure of how well an operations system functions and indicators of the efficiency and competitiveness of a single firm of department.

Human Capital:
An organizations investment in the training and development of its members.

Competitive Priorities:
Four major criteria, including pricing, quality level, quality reliability and flexibility on which products and services are evaluated.

Designing Operation system

Design for manufacture (DFM):
Technique that involves streaming the design of products to simplify assembly.

Computer-aided design (CAD):
Design and drafting performed interactively on a computer.

Bill of materials:
Listing of the type and number of parts needed to produce a given product.

Capacity planning:
Operations decision concerned with the quantity of goods or services to be produced.

CAD/CAM
Integrated approach in which the software used in designing products is also used to write a computer program to control the machinery.

CIM:
Integrated approach that combines CAD/CAM with the use of robots and computerized inventory management techniques.

Operation Planning and Control Decisions

Inventory:
Supply of raw materials, work in progress and finished goods in organization maintains to meet its operational needs.

Materials-requirements planning (MRP):
Operation planning system in which end products are analyzed to determine the materials needed to produce them.

Materials-resource planning (MRP II):
Operational planning system that extends MRP by...
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