Podcast
Questions and Answers
What are business operations?
What are business operations?
Activities undertaken by an organization that involves the transformation of inputs into outputs.
What is manufacturing in the context of business operations?
What is manufacturing in the context of business operations?
Turning raw materials and resources into outputs of finished goods or products.
Give an example of service sector operations.
Give an example of service sector operations.
Cutting and styling hair by a hairdresser.
Which of the following are activities involved in operations? (Select all that apply)
Which of the following are activities involved in operations? (Select all that apply)
Signup and view all the answers
What are tangible inputs in business operations?
What are tangible inputs in business operations?
Signup and view all the answers
What do intangible inputs include?
What do intangible inputs include?
Signup and view all the answers
What is waste minimisation in operations management?
What is waste minimisation in operations management?
Signup and view all the answers
Which factors are increasingly shaping the operations function? (Select all that apply)
Which factors are increasingly shaping the operations function? (Select all that apply)
Signup and view all the answers
What does ethical sourcing refer to?
What does ethical sourcing refer to?
Signup and view all the answers
The operations function is always static and does not change over time.
The operations function is always static and does not change over time.
Signup and view all the answers
Study Notes
Introduction to Operations Management
- Operations management is about transforming inputs into outputs. It includes planning, organizing, directing, coordinating, and controlling aspects of production.
- Manufacturing operations involve turning raw materials into finished goods, like a car manufacturer producing cars from steel.
- Service operations, like a hairdresser cutting and styling hair, involve processes designed to deliver the service itself.
Operations Activities
- Operations encompasses various activities in businesses:
- Producing goods and services.
- Implementing production and quality controls, including managing inputs and production capacity.
- Managing inventory levels.
- Overseeing supply chain management (SCM).
- Handling logistics and distribution.
- Making operational decisions.
### Interdependence of Operations
- The operations function is interconnected with all other business functions.
Inputs and Outputs
- Operations transform inputs into outputs, adding value in the process.
- Tangible inputs include raw materials, land, labor, and capital (facilities and technology).
- Intangible inputs include ideas and information.
- Outputs include goods and services produced through operations.
Customer Focus in Operations
- Modern businesses prioritize customer needs and relationships.
- Operations often aims to meet these needs by:
- Developing innovative, low-cost products that improve quality of life.
- Engaging in efficient processes that minimize waste.
- Maintaining ecological sustainability and ethical conduct.
Factors Shaping Operations
- Consumer expectations: Consumers increasingly appreciate businesses with ethical practices.
- Social media: Platforms like Facebook, Instagram, and Twitter allow consumers to globally share information about business practices.
- Stakeholder accountability: Lobby groups and interest groups hold businesses responsible for their social and environmental impact.
Waste Minimization
- Lean production, a key operation management approach, aims to eliminate waste and unnecessary material usage.
- Waste represents cost without adding value.
- Sources of waste include:
- Underutilization of labor
- Overproduction
- Errors and defects
- Underused machinery
- Slow lead and waiting times
- Excessive inventory
Fair Value and Ethical Sourcing
- Businesses are increasingly emphasizing fair compensation and ethical treatment of employees.
- The Fair Trade movement promotes:
- Fair pricing
- Decent working conditions
- Ethical sourcing
- Local sustainability
Ethical Sourcing
- Ethical sourcing involves sourcing materials from suppliers committed to ethical practices like fair wages and eco-friendly methods.
Adapting Operations
- The operations function continually adapts to changing consumer needs and technological advancements.
- Technology is transforming products, processes, and the way we work.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz explores the key concepts of operations management, detailing how inputs are transformed into outputs through various processes. It covers the importance of managing production, quality, inventory, and logistics, as well as the interdependence of operations with other business functions.
