operations management

• operations management

  management of resources and functions within a business to achieve efficient output of finished goods or services
• technology

  practical application of science to achieve commercial or industrial objectives
• automated production line

  consists of machinery and equipment arranged in a sequence usually on a conveyor belt
• robotics

  highly specialised form of technology capable of complex tasks
• computer-aided design

  a computerised design tool that allows a business to create product possibilities from a series of input parameters
• computer-aided manufacturing

  the use of software to direct and control manufacturing processes
• artificial intelligence

  is the ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans because they require human intelligence and discernment
• ecommerce

  buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet
• materials management

  the strategy that manages the use, storage and delivery of materials to ensure that the right amount of inputs is available when required in the operations system
• Forecasting

  a materials planning tool that relies on data from the past and present and analysis of trends to attempt to determine future events
• master production schedule

  a plan that describes what is to be produced, in what quantities, how and when
• materials requirement planning

  involves developing an itemised list of all materials involved in production to meet the specified orders
• inventory control

  ensures that costs are minimised and that the operations system has access to the right amounts of inputs when required
• just in time

  a materials management strategy that ensures that the right amount of material inputs will arrive only as they are needed in the operations process
• total quality management

  is a concept whereby all staff in a business have responsibility for its process and output
• quality control

  involves the use of a series of physical checks at different stages of production to ensure that products and services meet designated standards and errors are eliminated post production
• quality assurance

  involves the use of a system that will assure customers that the products of a business are fit for purpose
• waste minimisation

  
is a process that involves reducing the amount of unwanted or unusable resources created by the business's production process in an attempt to improve the efficiency and effectiveness of operations
• reduce

  reducing is achieved by creating less waste. in doing so, a business is able to decrease its costs, which improves efficiency.
• reuse

  reusing is taking old or unwanted items which might otherwise be thrown away and finding a new use for them
• recycle

  recycling is changing discarded materials into new products in order to avoid using more virgin resources
• corporate social responsibility (CSR)

  refers to managements awareness of the social and environmental consequences of its actions
• global sourcing

  the practice of seeking the most cost efficient material and other inputs, including from countries overseas.
• overseas manufacture

  also referred to as offshoring, meaning a good is produced in a country that is different to the location of the business's headquarters.
• global outsourcing

  the contracting of a specific business operation to an external person or business in another country
• environmental sustainability

  ability of an ecosystem to maintain itself into the future, involves using the earths resources at a rate they can be replenished
• sustainable procurement

  a system of procurement of inputs that allows a business to meet its economic needs while minimising damage to both the environment and society.