What are the 4 Vs of Operations Management? (Unilever's Operations
Manageent) Answer - Volume, Variety, Variability, and Visibility.
Volume Operational Production Strategy Answer - Refers to how much
production of a specific product is required to satisfy its overall demand in the
market. (Physical number of units or items produced)
Variety Operational Production Strategy Answer - Related to the variety of
goods/services to be produced and sold to customers. (Diversity) Selling
various products or services helps organizations increase sales and profit
potential and decreases product dependency.
Variation Operational Production Strategy Answer - Refers to how much the
level of demand changes over some time due to external factors.
, Visibility Operational Production Strategy Answer - Refers to value chain of a
company's all processes put together.
Project Production Answer - one-at-a-time production of a product made to
customer order
Mass Production Answer - Process of making large quantities of a product
quickly and cheaply
Continuous Production Answer - the production of a very-high-volume
commodity product with highly automated equipment. Machines constantly
make the product.
Batch Production Answer - producing a limited number of identical products -
each item in the batch passes through one stage of production before passing
on to the next stage
Time Performance Answer - A measure of how often a supplier meets agreed-
upon delivery dates (used in supply-chain management metrics).
Quality Performance Answer - The product or service performs its intended
function as identified by the consumer. (minimize waste)
Flexibility Performance Answer - The ability to respond proactively or
reactively to uncertainties in the business environment.
Dependability Performance Answer - Can be counted on to follow through and
achieve results with consistency. (the way it was intended and on time)
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