Operating Results Notes: Definitions & Explanations PDF | Download eBooks
Study Operating Results lecture notes PDF with total quality management definitions and explanation to study “What are Operating Results?”. Study operating results explanation with TQM terms to review total quality management course for online MBA programs.
Operating Results Definition:
Measures that are important to monitoring and tracking the effectiveness of a company's operations are called operating results.
Managing Quality: Integrating the Supply Chain by S. Thomas Foster
Operating Results Notes:
Every organization performs some core processes and operations. It is important to get efficient results from a company's operations. An organization can compare its operating results with the target firm in order to determine the effectiveness of its operations and identify areas of improvement. The operating results can include setup time, cycle time, lead time of the product (i.e. from conception to market), waste reduction etc. For example, if the initiator firm (taking aluminum utensils producing company as an example) observes the cycle time of one of its products to be 27 minutes and the target firm produces the same product in 23 minutes, there might be some non-value added activities involved in the initiator firm's process that must be eliminated to improve the cycle time.
Keep Learning with TQM Notes
What is Recall Procedure?
Product recall occurs when defective products are shipped to the customers. It is associated with consumer's risk which shows the ...
What are Trends?
Control charts are used to monitor the processes. Different types of control charts can be developed according to the available ...
What are Productivity Ratios?
An efficient use of resources by an organization is very important. Efficient use helps to reduce costs, in short saves ...
What is Team?
A team is a group of people working together to achieve a common goal. When working for process improvement, developing ...
What are Key Business Factors?
For benchmarking practices, some performance measures are to be identified. These measures are chosen on the basis of key business ...
What is Aesthetics?
While defining quality, several dimensions are considered. One of them is aesthetics which takes into account the visual and sensory ...