[L01] Introduction to Production and Service Systems

Front

What is the focus of Industrial Engineers?

Back

Effectiveness and efficiency in designing production and service systems.

Front

What is the profit formula for business organizations?

Back

Profit = Revenue - Cost

Front

What is the main goal for non-profit organizations in Industrial Engineering?

Back

Fulfill mission while keeping costs at a minimum.

Front

What are the five resources that Production/Operations Managers aim to minimize costs for?

Back

Parts, People, Planning, Plant, Process.

Front

What is the objective of the Production Systems Manager?

Back

Minimize cost while maintaining quality of the product, quality of life of the workers, and quality experience of the customers.

Front

What is the difference between goods and services in terms of output?

Back

Goods are tangible, while services are intangible.

Front

Who is Tim Cook and what is his approach to inventory management?

Back

Tim Cook is the CEO of Apple Inc. He emphasizes minimizing inventory, viewing it as 'fundamentally evil'.

Front

What are the three main functions of business organizations?

Back

Production/Operations, Finance, and Marketing.

Front

What is the historical significance of the year 1913 in Production/Operations Management?

Back

The introduction of the moving assembly line by Henry Ford.

Front

What is the Engineering Design Process?

Back

1. Identify problems or opportunities for improvement. 2. Analyze challenges. 3. Generate solutions. 4. Recommend the solution. 5. Adopt the solution. 6. Maintain the solution. 7. Re-evaluate the solution.