Term
| Operations Management (OM) |
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Definition
| The business function that plans, organizes, coordinates, and controls the resources needed to produce a company's goods and services |
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Term
| Role of Operation Management |
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Definition
| To transform organizational inputs into outputs |
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Term
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Definition
| The net increase created during the transformation of inputs into final outputs |
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Term
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Definition
| Performing activities at the lowest possible cost |
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Term
| Manufacturing Organizations |
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Definition
| Organizations that primarily produce a tangible product and typically have low customer contact |
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Term
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Definition
| Organizations that primarily produce an intangible product, such as ideas, assistance, or information, and typically have high customer contact |
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Term
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Definition
| Decisions that set the direction for the entire company. They are broad in scope and long-term in nature |
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Term
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Definition
| Decisions that are specific and short term in nature and are bound by strategic decisions |
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Term
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Definition
| An industry movement that changed production by substituting machine power for labor power |
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Term
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Definition
| An approach to management that focused on improving output by redesigning jobs and determining acceptable levels of worker output |
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Term
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Definition
| The studies responsible for creating the human relations movement, which focused on giving more considerations to worker's needs |
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Term
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Definition
| A philosophy based on the recognition that factors other than money can contribute to worker productivity |
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Term
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Definition
| A field of study that focuses on the development of quantitative techniques to solve operations problems |
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Term
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Definition
| A philosophy designed to achieve high-volume production through elimination of waste and continuous improvement |
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Term
| Total Quality Management (TQM) |
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Definition
| Philosophy that seeks to improve quality by eliminating causes of product defects and by making quality the responsibility of everyone in the organization |
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Term
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Definition
| Redesigning a company's processes to make them more efficient |
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Term
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Definition
| An organization strategy in which the company attempts to offer a greater variety of product choices to its customers |
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Term
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Definition
| The ability of a firm to highly customize its goods and services at high volumes |
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Term
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Definition
| An organizational strategy focusing on efforts to develop new products and deliver them to customers faster than competitors |
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Term
| Supply Chain Management (SCM) |
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Definition
| Management of the flow of materials from suppliers to customers in order to reduce overall cost and increase responsiveness to customers |
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Term
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Definition
| A trend in business focusing on customers, suppliers, and competitors from a global perspective |
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Term
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Definition
| A trend in business to consciously reduce waste recycle, and reuse products and parts |
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Term
| Business-to-business (B2B) |
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Definition
| Electronic commerce between businesses |
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Term
| Business-to-customers (B2C) |
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Definition
| Electronic commerce between businesses and their customers |
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Term
| Customer-to-customer (C2C) |
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Definition
| Electronic commerce between customers |
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Term
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Definition
| A concept that takes a total system approach to creating efficient operations |
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Term
| Enterprise Resource Planning (ERP) |
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Definition
| Large, sophisticated software systems used for identifying and planning the enterprise-wide resources needed to coordinate all activities involved in producing and delivering products |
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Term
| Customer Relationship Management (CRM) |
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Definition
| Software solutions that enable the firm to collect customer-specific data |
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Term
| Cross-functional Decision Making |
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Definition
| the coordinating interaction and decision making that occur among the different functions of the organization |
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