Operations Management Ch 4-7

These flashcards cover Chapters 4-7 of in OM by Collier/Evans. Please Enjoy.

102 cards   |   Total Attempts: 188
  

Cards In This Set

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Competitive advantage
Denotes a firms ability to achieve market and financial superiority over its competitors. -Understand customer wants and needs -Build and leverage operation capabilities to support desired competitive priorities
Noriaki Nano's 3 classes of customer requirements:
1. Dissatisfieres2. Satisfiers3. Exciters/delighters
Dissatisfieres
Requirements that are expected in a good or service
Satisfiers
Requirements that customers say they want
Exciters/delighters
New or innovative goods or service features that customers do not expect
Order qualifiers
Basic customer expectations - dissatisfiers and satisfiers - are generally considered the minimum performance level required to stay in business.
Order winners
Goods and service features and performance characteristics that differentiate the customer benefit package from another, and win the customer's business
3 types of attributes in evaluating quality of goods and services
1. Search2. Experience3. Credence
Search attributes
Those that a customer can determine prior to purchasing the good and/or services
Experience attributes
Those the can be discerned only after purchase or during consumption or use
Credence attibutes
Any aspects of a good or service that the customer must believe in, but cannot personally evaluate even after purchase and consumption
Competitive priorities
Represent the strategic emphasis that a firm places on certain performance measures and operation capabilities within a value chain
5 key competitive priorities
1. Cost2. Quality3. Time4. Flexibility5. Innovation
GE discovered that ____% of its manufacturing costs are determined by design
75
Mass customization
Being able to make whatever goods and services customers wants, at any volume, at any time for anybody, and for a global organization, from any place in the world.