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Today's production system is characterized by at least four features, one of them being Manufacturing as Competitive ______
Advantage
Plants have excess capacities, competition is mounting, and firms look to gain competitive advantage to survive and succeed, which highlights the importance of effective resource ______
utilization
Total Quality Management (TQM), Time-Based Competition, and Just-in-Time (JIT) are some techniques employed by companies to gain competitive ______
edge
The production management of today emphasizes gaining competitive advantage to survive and succeed by focusing on customer ______
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The modern production system offers vast scope to gain competitive edge through techniques like Business Process Re-engineering (BPRE) and Flexible Manufacturing Systems (FMS) which highlight the broad scope of operations ______
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The service sector is gaining greater relevance these days, emphasizing the importance of understanding the characteristics of modern operations ______
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To achieve adequate levels of resource utilization, operations managers must attempt to balance these basic objectives of ______ and customer service.
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Operations Management concerns with the conversion of inputs into outputs, using physical resources, to provide the desired utilities to the customer while meeting the organizational objectives of effectiveness, efficiency, and ______.
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The twin objectives of operations management include achieving agreed levels of utilization of materials, machines, and labor, as well as providing goods or services with the right specification, cost, and ______.
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The activities listed under Production and Operations Management functions include location of facilities, plant layouts and ______.
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One of the characteristics of modern operations function is its primary concern for 'conversion by using ______ resources'.
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Operations managers must strive to provide agreed or adequate levels of customer service to achieve customer satisfaction by delivering goods or services with the right specification, cost, and ______.
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Operations management is the management of that part of an organization that is responsible for producing goods and/or services. There are examples of these goods and services all around you. Every book you read, every video you watch, every e-mail you send, every telephone conversation you have, and every medical treatment you receive involves the operations function of one or more organizations. So does everything you wear, eat, travel in, sit on, and access the Internet with. However, to have a clear idea of Operations Management, one must have an idea of ‘Operating Systems’. An Operating System is defined as a configuration of resources combined for the provision of ______.
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Retail organizations, hospitals, bus and taxi services, tailors, hotels, and dentists are all examples of ______.
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Any operating system converts inputs, using physical resources, to create outputs, the function of which is to satisfy ______ wants.
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The creation of goods or services involves transforming or converting inputs into ______.
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Operations management focuses on resource utilization to efficiently produce ______ and/or services.
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One of the characteristics of a modern operations function is to adapt to ______ in production/operations management.
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Study Notes
Modern Production System Features
- Manufacturing as Competitive Advantage is essential for survival in a competitive market.
- Excess capacities in plants force companies to optimize resources for better performance.
- Effective resource management is critical to maintain competitiveness amid rising competition.
Competitive Strategies
- Techniques like Total Quality Management (TQM), Time-Based Competition, and Just-in-Time (JIT) are employed to enhance competitive edge.
- Focus on customer satisfaction is paramount, aligning production management with market needs.
Operations Techniques
- Business Process Re-engineering (BPR) and Flexible Manufacturing Systems (FMS) provide extensive opportunities for competitive advantages in the production system.
- The service sector's growing relevance necessitates an understanding of modern operational characteristics.
Objectives of Operations Management
- Operations managers aim to balance resource utilization and high levels of customer service.
- Operations Management is focused on converting inputs into outputs effectively while meeting organizational goals of effectiveness, efficiency, and quality.
Key Twin Objectives
- Achieving optimal utilization of materials, machines, and labor.
- Delivering goods or services that meet precise specifications at the right cost.
Production and Operations Management Functions
- Includes strategic decisions like facility location, plant layouts, and resource configurations.
- Emphasis on conversion processes using physical resources for output generation.
Customer Service and Satisfaction
- Operations managers must ensure customer satisfaction through timely and accurate delivery of goods and services.
- The right specification and cost are critical for fulfilling customer expectations.
Understanding Operating Systems
- An Operating System is a combination of resources dedicated to delivering services or producing goods.
- Examples of operating systems include retail organizations, healthcare facilities, transportation services, and hospitality businesses.
Importance of Resource Utilization
- Operations management is dedicated to efficient resource use to produce goods and services effectively.
- Adaptability in production and operations management is crucial for addressing changing market demands and competitive pressures.
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Description
Explore the key characteristics that distinguish modern production management systems from those of the past. Learn how manufacturing has evolved to become a competitive advantage in organizations.
