Front

What are the three main functions performed by organizations to create goods and services?

Back

Marketing, Production/Operation, Finance/Accounting

Front

Why is it important to study Operations Management (OM)?

Back

OM is one of the three major functions of an organization, it helps understand how goods and services are produced, what operations managers do, and it is a costly part of an organization.

Front

What is the Theory of Process Choice?

Back

Firms adopt different types of processes to manufacture products, distinguished by volume and variety.

Front

What does the Theory of Swift and Even Flow state?

Back

The more swift and even the flow of materials through the process, the more productive the process is.

Front

What are the laws within the Theory of Swift and Even Flow?

Back

Law of Variability 1, Law of Variability 2, Law of Bottlenecks, Law of Prioritization.

Front

What does the Law of Variability 1 state?

Back

The greater the randomness of the process, the lower the productivity.

Front

What does the Law of Variability 2 state?

Back

The greater the variability of the requirements of the process, the lower the productivity.

Front

What is the Law of Bottlenecks?

Back

The greater the difference in the rate of flow through stages in a process, the less productive the process.

Front

What does the Law of Prioritization state?

Back

In operations of inherent instability, the greater the instability, the greater the prioritization of orders.

Front

What is the Theory of Lean Manufacturing?

Back

Productivity is enhanced by applying principles designed to eliminate waste of all kinds.