TERMS - OPS MGT
Terms
undefined, object
copy deck
- Competitive Product Space
- Company's portfolio along product attributes
- Strategic Positioning
- Those positions the firms wants to occupy in its competitive space
- Operational Effectiveness
- Develop processes and policies that support their strategic position better than competition processes and policies do
- Corporate Strategy
-
Defines businesses in which corporation will participate
Specifies how key resources will be acquired and allocated to each business - Business Strategy
-
Defines scope of each division
- attributes
- market segment - Functional Strategy
- Define purpose for Marketing, Operations, and Finance
- Operation Strategy
- Develops business processes that best enable a firm to produce and deliver products in Business Strategy
- Strategic Fit
- Consistency between competitive advantage a firm seeks and the process architecture/mgt policies employed to achieve that advantage
- Cost Efficiency
- Achieving a desired level of outputs with a minimal level of inputs and resources
- Process is efficient
- Low Cost
- Process is effective
- Supports execution of company's strategy
- Components of a firms strategy
-
1. Strategic Position
2. Process Architecture
3. Managerial Policies - Market Driven Strategy
- Starts with "Key Competitive Priorities" and then develops processes to support them
- Process Driven Strategy
- Starts with a given set of process competencies and then identifies a market postion that is best supported by those processes
- Focused Strategy
-
Committing to a limited, congruent set of objs in terms of demand and supply
Serving limited market segment - Focused Process
- Products fall within a small region of the competitive product space
- Plant Within a Plant
- Entire facility divided into several miniplants, each with its own specific mission
- Product-Process matrix
- tool for matching processes to products
- Trade off
- Decreasing one aspect to increase another
- Operations frontier
- Smallest curve that contains all current industry positions.
- Division of Labor
- Process and org structure where people are specialized by function - dedicated to a specific task
- Functional Specialization
- Process and org structure where people are specialized by function - dedicated to a specific task
- Product Specialization
- Process and org structure where people are specialized by product - dedicated to a specific product line
- Mass production
- Production of goods in quantity
- American System of Manuf
-
Use of interchangeable parts
-eliminates need to custom-fit parts during assy - Flexible Mass Production
- method of high-volume production that allows difference in products
- Productivity Dilemma
- choose between low productivity, high variety and high productivity, low variety
- Statistical Quality Control
- Mgt approach that relies on sampling of flow units and statistical theory to ensure the quality of the process