Operations Management at Frankfurt School of Finance & Management

Flashcards and summaries for Operations Management at the Frankfurt School of Finance & Management

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Study with flashcards and summaries for the course Operations Management at the Frankfurt School of Finance & Management

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

Which two hybrid production systems are there? 

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

What are the three main input factor categories? 

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

What is the classic performance quadrangle? 

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Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

What does excess demand mean in theory in practice? 

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

What does excess supply mean in theory and practical? 

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

How and through what is consumer utility influenced? 

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

What is the main differrence between production and service companies when looking at the transformation process? 

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Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

Wieso stellt die EK einen Trade Off dar? 

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

What does Years/Months/Days of Supply measure and how is it calculated? 

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

Why can there be different types of flow units? 

Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

What is the general definition of a bottleneck? 

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Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

What is Operations Management? 

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Exemplary flashcards for Operations Management at the Frankfurt School of Finance & Management on StudySmarter:

Operations Management

Which two hybrid production systems are there? 

mass customization 

each customers order is unique and manufactured to his preferences 


assemble to order 

order is assembled from a set of standardized modular components after an order is received

Operations Management

What are the three main input factor categories? 

1. man


2. machine 


3. material

Operations Management

What is the classic performance quadrangle? 

A concept which shows how different factors influence a company


Cost/Efficiency = Are we wasting ressources? 


Quality = Are customers happy with the final product/service? 


Variety = Are we providing sufficient variety to match the heterogenous demand of our customers? 


Time = How fast can we provide a service or product? 

Operations Management

What does excess demand mean in theory in practice? 

theory = prices increase


practice= losing revenues 

Operations Management

What does excess supply mean in theory and practical? 

theory = prices decrease


practical = ressources are wasted

Operations Management

How and through what is consumer utility influenced? 

Price (most of the time negative except luxury products) 


Inconvenience = location and timing


consumption utility = perfomance and fit 

Operations Management

What is the main differrence between production and service companies when looking at the transformation process? 

At service companies the customer is the most of the time the material its self (for example at the hairdresser the customer is customer and material at the same time) 

Operations Management

Wieso stellt die EK einen Trade Off dar? 

Wenn ich zum Beispiel versuche schneller zu sein impliziert dies mehr Mitarbeiter was wiederrum mehr Kosten mit sich bringt

Operations Management

What does Years/Months/Days of Supply measure and how is it calculated? 

T = I/R I=Inventory and R=COGS


How long does money stay in a company until it turns to revenue? 

How long has one passenger have to wait in average? 

Operations Management

Why can there be different types of flow units? 

There can be flow units that leave the process earlier for example loans applications that get rejected after some stage in the process

Operations Management

What is the general definition of a bottleneck? 

The resource with the highest implied utilization 

Operations Management

What is Operations Management? 

Managing... 


1. the transformation of an input rate into an output rate 


2. to match an demand rate and make money or achieve non for profit objectives

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