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53 Cards in this Set
- Front
- Back
Operation Management |
Design, direction, and control of processes |
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SIPOC |
Supplier, input, process, output, customer |
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Process |
Activity that consumes an input and makes it an output for customers |
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Suppliers |
Provide business with inputs to make a product |
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Integrated Supply Chain |
When partners and processes are in harmony, equal attention, visibility of the supply chain and transparency of information. |
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Craft Production |
Manufacturing products by hand |
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James Watt |
Created steam engine |
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1st Industrial Revolution |
Intro of production machinery and factories |
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2nd Industrial Revolution |
Migration of Americans from rural to urban areas |
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Standard Work |
Work that is broken down into individual processes and analyzed to determine most efficient way to do job |
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System Thinking |
All components of a business are interrelated and changing one of them can have an unforeseen outcome elsewhere |
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Constraint |
A factor that limits the performance of a process or operation and therefore results in sub-optimal output |
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Bottleneck |
When a constraint causes an organization to be unable to meet the demands of its customers |
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Theory of Constraints |
Locate/Identify, Subordinate, Elevate, Lather,Rinse,Repeat |
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3rd Industrial Revolution |
Intro of computers in the workplace, made new efficiencies and capabilities. |
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4th Industrial Revolution |
Intro of machines/Automation |
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Value Stream |
A process flow that highlights which steps add value and which don’t |
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LEAN |
What customer expects Mapping and Evaluating Value Stream work to continuously flow Customer Pulls Product Never Stop Improving |
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DMAIC |
Define Measure Analyze Improve Control |
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Kaizen Process |
“Change for better” |
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DOWNTIME |
Defects Overproduction Waiting Not Utilizing Talent Transportation Inventory Motion Excess Processing |
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Statistical Process Control |
Way of measuring whether or not a business is delivering value to customers |
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Customer has what Four Utilities? |
Form Possession Place Time |
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Cycle Stock |
Inventory companies elect to hold based on what is anticipated |
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Buffer Stock |
Goods Held to protect the customer from starvation, in case of increase in demand |
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Safety Stock |
Goods held at any point to prevent customers from starvation by capability issues |
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Safety Stock |
Goods held at any point to prevent customers from starvation by capability issues |
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Pipeline Stock |
Product moving through chain |
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Speculative Stock |
Held for season demand, price increases and shortages. |
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Psychic Stock |
Based on assumption that purchasing is seeing product |
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Reorder/Trigger Point |
When inventory drops below certain pounds more product is needed. |
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S&OP (Sales and Operations Planning) |
Used to develop a plan for business to meet customer demand |
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Mean Absolute Percentage Error |
Metric used to measure inaccurate Traditional Forecasting |
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CPFR & VMI |
Models used to help improve forecasting by leveraging their suppliers share data. |
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Evangelists |
Customer who promotes and markets product w/o compensation |
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Big Data |
Designed to process cast amounts of Data and derive customer rights |
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Anticipatory Shipping |
A model used to help anticipate people’s orders, created by Amazon. |
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Point-Of-Presence |
Area of Supply Chain capable of delivering product to customer |
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Greenfield Analysis |
Design and construction occurring where no previous facility exists |
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Greenfield Analysis |
Design and construction occurring where no previous facility exists |
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Brownfield Analysis |
Existing facility or process being changed and modified |
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Greenfield Analysis |
Design and construction occurring where no previous facility exists |
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Brownfield Analysis |
Existing facility or process being changed and modified |
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Offshoring |
Moving manufacturing activities in order to save land and labor costs |
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Backshoring |
Moving production facilities back to home country |
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Backshoring |
Moving production facilities back to home country |
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Nearshoring |
Moving facilities back into local region, but not home country |
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V-Plant |
Small # of raw materials, flow towards manufacture of large # of unfinished goods |
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V-Plant |
Small # of raw materials, flow towards manufacture of large # of unfinished goods |
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A-Plant |
Large # of raw materials flow into manufacture of a small # of unfinished goods |
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T-Plant |
Numerous similar finished goods are created by combing common parts, kits, or sub-components |
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T-Plant |
Numerous similar finished goods are created by combing common parts, kits, or sub-components |
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I-Plant |
Raw materials flow into different goods (Assembly Line) |