Term
|
Definition
| production of goods by highly skilled and specialized artisans |
|
|
Term
|
Definition
| high volume production of standardized products |
|
|
Term
|
Definition
| a measure of the productivity of money invested in a business, typically a ratio of net income to some input such as set sales or total assets |
|
|
Term
|
Definition
| the amount a customer is willing to pay for a product of service sometimes thought of as benefits divided by cost |
|
|
Term
|
Definition
| the means by which a company positions itself for future profitability |
|
|
Term
|
Definition
| the abilities a business has that result from its processes, capabilities create value |
|
|
Term
|
Definition
| organized tasks accomplished by grouping resources together |
|
|
Term
|
Definition
| the expenses associate with ownership |
|
|
Term
|
Definition
| meeting customer expectations |
|
|
Term
|
Definition
| the speed at which a business completes tasks and the degree to which it completes tasks on schedule and as promised |
|
|
Term
|
Definition
| a productive system that functions with little waste or excess, usually with low inventory levels |
|
|
Term
|
Definition
| a framework for managing the constraints of a system in a way that maximizes the systems accomplishment of its goals |
|
|
Term
|
Definition
| materials used in the production of products and services ex. RM, inventory, W-in-P, F Goods |
|
|
Term
|
Definition
| The level of productive output of an organization in a specified period of time |
|
|
Term
|
Definition
| The building and structure that house various aspects of a business |
|
|
Term
|
Definition
| the employees required to produce a product or service |
|
|
Term
|
Definition
| globalization, technology, natural environment, regional pressures |
|
|
Term
|
Definition
| a new technology that displaces and existing technology |
|
|
Term
|
Definition
| the difference between the market value of a product or service and the cost of creating it |
|
|
Term
|
Definition
| a measure of how well inputs are used by a business, typically the ratio of an output to the input of interest |
|
|
Term
|
Definition
| profit per $ of sales (income/Sales) |
|
|
Term
|
Definition
| profit per dollar of assets (net income/total assets) |
|
|
Term
|
Definition
| profit per dollar of equity (net income/total equity) |
|
|
Term
|
Definition
| Net sales – COGS – S&A costs – Depreciation – Interest Paid – Taxes |
|
|
Term
|
Definition
| EVA= net operating profit after taxes- (average cost of capital x total capital employed) |
|
|
Term
|
Definition
|
|
Term
|
Definition
| a measure of inventory productivity computed by the dividing sales by the average value of inventory |
|
|
Term
|
Definition
| a productivity measure for machines that is equal to actual running time divided by time available (actual run/ time available |
|
|
Term
|
Definition
| the ratio of actual output to standard output |
|
|
Term
|
Definition
| the percent of orders satisfied from existing inventory |
|
|
Term
|
Definition
| an instance when demand cannot be satisfied by existing inventory |
|
|
Term
|
Definition
| additional inventory used to help meet demand uncertainty |
|
|
Term
|
Definition
| a performance measurement system that combines financial and nonfinancial measures of business performance |
|
|
Term
|
Definition
| a manufacturer that extracts raw materials from natural resources |
|
|
Term
|
Definition
| the second stage of product value creation, whuch refines natural resource inputs |
|
|
Term
|
Definition
| the third stage of product value creation, which takes inputs from converters and transforms them into components used by assemblers |
|
|
Term
|
Definition
| the final step of the four stages of product value creation which puts together the outputs of fabricators |
|
|
Term
|
Definition
| the path of value creation, from basic producer through consumer, including all transportation and logistics services that connect them |
|
|
Term
| Value Attributes Consumers |
|
Definition
| cost, quality, convenience, timeliness, personalization, ethical issues, style/fashion, technology |
|
|
Term
| Value Attributes Businesses |
|
Definition
| cost, quality, dependability of delivery, flexibility, response time |
|
|
Term
|
Definition
| the management of supplier customer relationships, must have agility, adaptability, alignment |
|
|
Term
|
Definition
| a short statement of what a business does, what its values are, who its market is and why |
|
|
Term
|
Definition
| defines the businesses that a corporation will engage in and how resources will be expended |
|
|
Term
|
Definition
| defines the range of activities for a business setting priorities so that it accomplishes the overall corporate strategy |
|
|
Term
|
Definition
| a strategy that establishes the link between functional decision making and business strategy |
|
|
Term
|
Definition
| a strategy that seeks to produce goods and services at lower costs than competitors |
|
|
Term
|
Definition
| a strategy that seeks to create products and services that are different from those of competitors |
|
|
Term
|
Definition
| a strategy that targets a small segment of the market with products or services |
|
|
Term
|
Definition
| those capabilities that form a firms strengths |
|
|
Term
|
Definition
| examining the environment for potential effects on strategic decisions |
|
|
Term
|
Definition
| capacity, facilities, process technology, vertical integration/ supplier relationships |
|
|
Term
|
Definition
| human resources, quality, production planning/inventory controls, new product or service development, performance/reward systems, organizational systems |
|
|
Term
|
Definition
| key value attributes that are highly influenced by operations management: cost quality, dependability of delivery, flexibility, and response time |
|
|
Term
|
Definition
| the capacity a facility is designed to accommodate on an ongoing basis |
|
|
Term
|
Definition
| a layer of capacity above that which is absolutely required to meet known demand, providing the firm with the ability to handle occasional problems and enabling them to handle special requests |
|
|
Term
|
Definition
| the ability to customize in high volumes |
|
|
Term
|
Definition
| a product or service characteristic that is most important to a particular customer and results in the customer ordering |
|
|
Term
|
Definition
| product or service characteristics that are necessary but not sufficient to result in winning the order |
|
|
Term
|
Definition
| capabilities added by all members of a supply chain |
|
|
Term
|
Definition
| a layout that provides the necessary resources in a fixed sequence that matches the sequence of the steps required to product the product or service |
|
|
Term
|
Definition
| a layout that is organized by the function of each resource, allowing steps to be done in any sequence |
|
|
Term
|
Definition
| a layout in which products whose processes require similar resources are grouped into product families. Each cell contains all the resources necessary to produce products in that family |
|
|
Term
|
Definition
| a set of activities aimed at meeting a goal, with a defined beginning and end |
|
|
Term
|
Definition
| a manufacturer, typically a process oriented layout that is able to produce custom tools and equipment for others because of its flexibility |
|
|
Term
|
Definition
| a type of production in which identical products or customers are processed through on step and then the entire batch goes on to the next stop |
|
|
Term
|
Definition
| the time required to change equipment from producing one product or service to another aka setup time |
|
|
Term
|
Definition
| a narrowly defined manufacturing assembly process made up of equipment with little flexibility in a product-oriented layout |
|
|
Term
|
Definition
| this is any equipment or workstation that is dedicated to one product or service, yielding high levels of efficiency aka repetitive processing |
|
|
Term
|
Definition
| producing a product when an order is received |
|
|
Term
|
Definition
| producing a product before an order is received and string the product |
|
|
Term
|
Definition
| producing major components of a product prior o receiving an order and assembling the product to meet a specific order |
|
|
Term
| Quality function deployment |
|
Definition
| a widely used approach that translates customer needs into product and service designs that guide the corresponding process requirements |
|
|
Term
|
Definition
| a set of matrices used to guide the quality function deployment process |
|
|
Term
|
Definition
| product planning, part deployment, process planning, production planning |
|
|
Term
|
Definition
| including logistics and transportation concerns in the product design process, usually involving effective packaging |
|
|
Term
|
Definition
| the inclusion of environmental concerns in the product design |
|
|
Term
|
Definition
| performing product and service development engineering functions in tandem to reduce time and improve communication |
|
|
Term
|
Definition
| a diagram of the steps in a process |
|
|
Term
|
Definition
| a type of process map used for services that identifies decision points failure and the line of visibility |
|
|
Term
| Business process analysis |
|
Definition
| a productivity improvement approach that focuses and the transitions between different departments |
|
|
Term
|
Definition
| starting from a clean slate to improve a process |
|
|
Term
|
Definition
| a device that makes it impossible or nearly impossible to do something incorrectly |
|
|
Term
|
Definition
| define, measure, analyze, improve, control |
|
|
Term
|
Definition
| ` c † ‰ .% 2% º% Á% Ä% , 6 ù Ø ç ‚ Œ w ~ ¨ ® E$ K$ % Ä% : : : : : : : ÿ@€ Á% Á% °m5 Á% Á% c' Â% @ ÿÿ U n k n o w n ÿÿ ÿÿ ÿÿ ÿÿ ÿÿ ÿÿ G T i m e s N e w R o m a n 5 € S y m b o l 3 A r i a l qˆ ð@ h ËÔÅ&GÕÅ& l v " B ! ð ¥À´ ´ € 24 ;& ç ð ðÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿê ÿÿ |
|
|
Term
|
Definition
| production of goods by highly skilled and specialized artisans |
|
|
Term
|
Definition
| high volume production of standardized products. |
|
|
Term
|
Definition
| a measure of the productivity of money invested in a business, typically a ratio of net inc to some input such as cost. |
|
|
Term
|
Definition
| the amount a customer is willing to pay for a product or service sometimes thought as benefits over costs. |
|
|
Term
|
Definition
| profitability, value, strategy, capabilities, processes. |
|
|
Term
|
Definition
| the means by which a co positions itself for future profitability |
|
|
Term
|
Definition
| the abilities a business has that result from its processes, capabilities create value. |
|
|
Term
|
Definition
| cost,quality, timeliness. |
|
|
Term
|
Definition
| organized tasks accomplished by grouping resources together. |
|
|
Term
|
Definition
| the expenses associated with ownership |
|
|
Term
|
Definition
| meeting the customers' expectations |
|
|
Term
|
Definition
| the speed at which a business completes task and the degree to which tasks on schedule and as promised. |
|
|
Term
| integrative management frameworks |
|
Definition
| a management approach that guides day to day decisions in a way that is consistent with a firms profitability. |
|
|
Term
|
Definition
| a system that produces little waste or excess, with low inventory levels. |
|
|
Term
|
Definition
| a framework for managing the constraints of a system in a way that maximizes the systems accomplishment of its goals. |
|
|
Term
|
Definition
| mats used in the production of products and services. |
|
|
Term
|
Definition
| the diff between the market value of a product or service and the cost of creating it. |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| net sales - cogs - S&A expenses - Depreciation - interest paid - taxes |
|
|
Term
|
Definition
EVA = net operating profit after taxes - (avg cost of capital * total capital employed)
a productivity measure that indicates whether or not a business is creating wealth from its capital. |
|
|
Term
|
Definition
| (beg inv - ending inv)/ 2 |
|
|
Term
|
Definition
| dividing sales by the average value of inventory |
|
|
Term
|
Definition
| actual running time / time available |
|
|
Term
|
Definition
| actual output / standard output. |
|
|
Term
|
Definition
| the level of productive output of an org in a specified time period. |
|
|
Term
|
Definition
| globilization, technology, nat environment, regional pressures. |
|
|
Term
|
Definition
| a new tech that displaces an existing tech. |
|
|
Term
|
Definition
| the percent of orders satisfied from existing inventory. |
|
|
Term
|
Definition
| when demand cannot be satisfied by existing inven. |
|
|
Term
|
Definition
| additional inven used to help meet demand uncertainty. |
|
|
Term
|
Definition
| a performance measurement system that combines financial and nonfinancial measure of business performance, financial objectives , internal business processes learning and growth, customer outcomes. |
|
|
Term
|
Definition
| a manufacturer that extracts raw mats from natural resources. |
|
|
Term
|
Definition
| 2nd stage of product value creation, which refines natural resource inputs. |
|
|
Term
|
Definition
| 3rd step of product value creation, which takes converters inputs and makes components used by assemblers. |
|
|
Term
|
Definition
| 4th and final step of product value creation, which puts together outputs of fabricators |
|
|
Term
| Consumer value attributes |
|
Definition
| cost, quality, convenience, timeliness, personalization, ethical issues, style/fashion, technology. |
|
|
Term
| businesses value attributes |
|
Definition
| cost, quality, dependability of delivery, flexibility, response time. |
|
|
Term
|
Definition
| the management of customer supplier relations, must have adaptability, agility, alignment. |
|
|
Term
|
Definition
| a short statement of what a business does, what its values, and who its market is and why. |
|
|
Term
|
Definition
| defines the range of activities for a business setting priorities so that it accomplishes the overall corp strat. |
|
|
Term
|
Definition
| a strategy the establishes the link between functional decision making and business strategy |
|
|
Term
|
Definition
| a strategy that seeks to produce goods and services at a lower cost than competitors |
|
|
Term
|
Definition
| targets a small segment of the market wih products of services. |
|
|
Term
|
Definition
| capacity, facilities, process technology, vertical integration/supplier relationships. |
|
|
Term
| infrastructural decisions |
|
Definition
| HR, quality, production planning/inventory controls, new product or service development, performance rewards systems, organizational systems. |
|
|
Term
|
Definition
| key value attributes that are highly influenced by operations management: cost, quality, dependability of delivery, flexibility, and response time. |
|
|
Term
| Design and protective capacity |
|
Definition
D - the capacity of a facility is designed to accommodate on an ongoing basis.
P - providing the firm with the ability to handle occasional problems and enabling them to handle special requests. |
|
|
Term
|
Definition
| characteristics that are necessary but not sufficient to result in winning the order. |
|
|
Term
|
Definition
| a product or service characteristic that is most important to a particular customer and results in the customer ordering. |
|
|
Term
|
Definition
| a layout that provides the necessary resources in a fixed sequence that matches the sequence of the steps required to produce the product or service. |
|
|
Term
|
Definition
| a layout that is organized by the function of each resource, allowing steps to be done in any sequence. |
|
|
Term
|
Definition
| a layout in which products with similar processes are grouped into product families. |
|
|
Term
|
Definition
| a manufacturer that is able to produce custom tools and equipment for other because of their flexibility. |
|
|
Term
|
Definition
| a type of production in which identical products or customers are processed through one step and then the entire batch goes through the next step. |
|
|
Term
| quality function development |
|
Definition
| translates customer needs into product and service designs that guide the corresponding process requirements. |
|
|
Term
|
Definition
| a set of matrices used to guide the quality function development process. |
|
|
Term
|
Definition
| performing product and service development engineering functions in tandem to reduce time and improve communication. |
|
|
Term
|
Definition
| a diagram of steps in a process. |
|
|
Term
|
Definition
| a tpe of process map used for services that identifies decision points, failure points, and the line of visibility. |
|
|
Term
| Business process analysis |
|
Definition
| a productivity improvement approach that focuses on the transitions between different departments |
|
|
Term
|
Definition
| starting with a clean slate. |
|
|
Term
|
Definition
| a device that makes it nearly impossible to do something incorrectly |
|
|
Term
|
Definition
| define, measure, analyze, improve, control. |
|
|
