Business & Entrepreneurship
Operations and Customer Experience flashcards
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- What is meant by “Process” in this lesson?Capacity and Bottlenecks
- A process is a sequence of activities producing an outcome.
- What is meant by “Capacity” in this lesson?Capacity and Bottlenecks
- Capacity is the output achievable under specified resources and conditions.
- What is meant by “Bottleneck” in this lesson?Capacity and Bottlenecks
- A bottleneck constrains the rate of an overall process.
- What is meant by “Lead time” in this lesson?Capacity and Bottlenecks
- Lead time is elapsed time from a defined request to fulfillment.
- What is meant by “Workflow” in this lesson?Capacity and Bottlenecks
- A workflow organizes steps, responsibilities, and information movement.
- What is meant by “Standard procedure” in this lesson?Capacity and Bottlenecks
- A standard procedure documents a repeatable method while allowing appropriate exceptions.
- What is meant by “Supply chain” in this lesson?Suppliers and Inventory
- A supply chain links sourcing, production, distribution, and related information.
- What is meant by “Supplier” in this lesson?Suppliers and Inventory
- A supplier provides inputs or services under agreed conditions.
- What is meant by “Inventory” in this lesson?Suppliers and Inventory
- Inventory is goods or materials held for production or sale under a defined accounting scope.
- What is meant by “Stockout” in this lesson?Suppliers and Inventory
- A stockout occurs when needed inventory is unavailable.
- What is meant by “Safety stock” in this lesson?Suppliers and Inventory
- Safety stock buffers uncertainty in demand or replenishment under a chosen policy.
- What is meant by “Supplier concentration” in this lesson?Suppliers and Inventory
- Concentration creates dependence on a limited set of providers.
- What is meant by “Quality standard” in this lesson?Quality and Customer Feedback
- A standard defines required attributes or performance.
- What is meant by “Quality assurance” in this lesson?Quality and Customer Feedback
- Assurance designs processes to support consistent required outcomes.
- What is meant by “Quality control” in this lesson?Quality and Customer Feedback
- Control checks outputs or processes against specified requirements.
- What is meant by “Service recovery” in this lesson?Quality and Customer Feedback
- Recovery addresses a failure and its effects on the customer.
- What is meant by “Customer feedback” in this lesson?Quality and Customer Feedback
- Feedback records users' experiences and concerns.
- What is meant by “Continuous improvement” in this lesson?Quality and Customer Feedback
- Improvement repeatedly tests and evaluates process changes.