01: POM basics Flashcards Preview

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Flashcards in 01: POM basics Deck (8)
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1
Q

Defining operations management

A

Operations management can be defined as:

the activity of managing the resources of the organization that deliver goods and services.

2
Q

Explain and use the SIPOC model

A

within the firm:

  • Supplier
  • Information
    • INPUTS = Suppliers’ products & services («raw materials»)
    • Process
    • OUTPUTS = Products and services
  • Customer
  • in the value

SIPOCs can be chained, within the firm and between firms!

3
Q

The process in SIPOC uses these 4(+1) resources:

A
  1. people (men)
  2. machines
  3. materials
  4. methods
  5. (money)
4
Q

Explain how operations contribute to competitiveness, analyzing ROI as =1+1=2+4

A
  • ROI
  • profits /
      • revenues <– customer service
      • costs <– logistics & production efficiency
  • / capital employed
    • cash <– accuracy & speed of fulfilment & delivery
    • accounts receivables <– delivery
    • inventory <– inventory mgmt
    • fixed assets <– asset deployment & utilization
5
Q

Two strategic perspectives: Marked-based vs. Resource-based

A
  • Resource-based
    Starts with: « What can we offer to the customer?»
    >> SW
  • Market-based
    Starts with: «What does the customer want?»
    ​>> OT + environmental analysis + Porter’s 5 forces
  • Although the two perspectives differ, they complement each other. Both should be used in «real life»,
    to find gaps
6
Q

Explain competitive priorities versus competitive capabilities

A

competitive priorities <– what market needs and wants

competitive capabilities <– what we can deliver, based on current resources and processes

7
Q

Order qualifiers vs. Order winners

A

 An order qualifier is a required capability (or product/ service characteristics) for selling, but will not win orders
eg Compliance to standards in food industries

 An order winner is a capability (or product/ service characteristics) that can win you orders
eg Taste in food industries

8
Q

competitive priorities & capabilities: 4+8

A

4 original:

  • Cost
  • Quality
  • Delivery
  • Flexibility

8 disperss

  • Dependability
  • Innovation
  • Service
  • Personalization
  • Environment
  • Responsibility
  • Safety
  • Speed