COM Technology & Innovation Management Flashcards
6 cards from real COM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 COM Technology & Innovation Management flashcards as text
What is the primary benefit of implementing an Enterprise Resource Planning (ERP) system in operations management?
Answer: Integrating core business processes into a single unified system
ERP systems integrate functions like finance, HR, supply chain, and manufacturing into one platform, improving data visibility and decision-making across the organization.
In operations management, what does 'automation' primarily help achieve?
Answer: Higher throughput with reduced human error and labor costs
Automation uses technology to perform repetitive tasks faster and more consistently than humans, increasing output while reducing errors and labor expenses.
What is Industry 4.0, and how does it impact operations management?
Answer: The fourth industrial revolution integrating digital technologies like IoT, AI, and big data into manufacturing
Industry 4.0 refers to the digitalization of manufacturing through technologies like IoT sensors, AI analytics, cloud computing, and robotics to create smart factories.
What is the Internet of Things (IoT) in the context of operations management?
Answer: A network of connected devices that collect and share operational data in real time
IoT in operations involves physical devices (sensors, machines, vehicles) connected to the internet to collect real-time data for monitoring, maintenance, and optimization.
Which innovation management framework categorizes innovations by their degree of novelty into incremental, breakthrough, and disruptive types?
Answer: Innovation ambition matrix
The innovation ambition matrix (Nagji & Tuff) classifies innovations along two dimensions — how new the offering is and how new the market is — to guide resource allocation.
What is a key operational benefit of predictive maintenance enabled by technology?
Answer: Reducing unplanned downtime by servicing equipment before failures occur
Predictive maintenance uses sensor data and analytics to forecast when equipment will fail, allowing maintenance to be scheduled proactively and avoiding costly unplanned outages.