Summary: College 1
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1 Chapter 1 and 2
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What are the three basic functions of enterprises?
product / service development
marketing
operations -
How do companies work?
input resources -- managing and changing resources -- output products and services -
What are the implications of high volume?
High repeatability
Specialization
Capital intensive
Low unit costs -
What are the implications of low volume in operations and processes?
Low repetition
Each staff member performs more of each task
Less systemization
High unit costs -
What are the implications of high variation in demand in operations and processes?
Changing capacity
Anticipation
Flexibility
In touch with demand
High unit costs -
What are the implications of low variation in demand in operations and processes?
Stable
Routine
Predictable
High utilization
Low unit costs -
What are the implications of high visibility in operations and processes?
Short waiting tolerance
Satisfaction governed by customer perception
Customer contact skills needed
Received variety is high
High unit costs -
What are the implications of low visibility in operations and processes?
Time lag between production and consumption
Standardization
Low contact skills
High staff utilization
Centralization
Low unit costs -
What are the 5 competitive dimensions that can be used to measure performance?
Quality -- being right
Speed -- being fast
Dependability -- being on time
Flexibility -- being able to change
Cost -- being productive -
What are the effects of quality?
Quality reduces cost
Quality increases dependibility
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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