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Introduction to Operations Management

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Why Study OM? One of three major organizational functions (marketing, finance, and operations) ... Produced & consumed at same time. Often unique. High customer ... – PowerPoint PPT presentation

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Title: Introduction to Operations Management


1
Introduction to Operations Management
2
Two Operations Systems
  • Cruise Ship vs. Automobile Factory

3
Why Study OM?
  • One of three major organizational functions
    (marketing, finance, and operations)
  • How goods and services are produced
  • Find out what operations managers do
  • Costly part of organizations

4
Key Business Functions
Production/ Operations
Finance
Marketing
5
Operations Interfaces
Accounting
6
Types of Operations
7
Production/Operations Systems
  • Transformation/conversion changes inputs to more
    valuable outputs via Means of Production.

8
Production as the Technical Core
Capital Markets
Finance
Production
Suppliers
Purchasing
Personnel
Labor Force
Marketing
Customers
9
Scope of Operations Management
  • Forecasting
  • System Design (long term)
  • capacity
  • location
  • arrangement of departments
  • product and service planning
  • acquisition and placement of equipment

10
Scope of Operations Management
  • System Operation (short term)
  • personnel
  • inventory
  • scheduling
  • project management
  • quality assurance

11
Major Characteristics of Production Systems
  • Degree of standardization
  • Standardized OR Make-To-Stock

  • Assemble-To-Order
  • Customized OR Make-To-Order

12
Major Characteristics of Production Systems
  • Type of operation
  • Project
  • Unit/Batch (job shop)
  • Repetitive/mass
  • Continuous

13
Characteristics of Goods
  • Tangible product
  • Consistent product definition
  • Production usually separate from consumption
  • Can be inventoried
  • Low customer interaction

14
Functions - Manufacturer
15
Characteristics of Service
  • Intangible product
  • Produced consumed at same time
  • Often unique
  • High customer interaction
  • Inconsistent product definition
  • Often knowledge-based
  • Frequently dispersed

16
Functions - Bank
17
Manufacturing vs. Service
18
Goods Contain Services Services Contain Goods
Automobile
Computer
Installed Carpeting
Fast-food Meal
Restaurant Meal
Auto Repair
Hospital Care
Advertising Agency
Investment Management
Consulting Service
Counseling
Percent of Product that is a Good
Percent of Product that is a Service
19
Responsibilities of Operations Managers
  • Planning
  • Capacity
  • Location
  • Products and services
  • Make or buy
  • Layout
  • Projects
  • Scheduling
  • Controlling
  • Inventory
  • Quality
  • Organizing
  • Degree of centralization
  • Subcontracting
  • Staffing
  • Hiring/laying off
  • Use of Overtime
  • Directing
  • Incentive plans
  • Issuance of work orders
  • Job assignments

20
Operations Decision Making
  • Quantitative Approaches/Models
  • Analysis of Tradeoffs
  • Systems Approach
  • Establishing Priorities
  • Ethics

21
Models
  • A model is an abstraction of reality.
  • Physical
  • Schematic
  • Mathematical
  • Mix of quantitative vs. qualitative aspects

What are the pros and cons of models?
22
Use of Models
  • For each model, try to learn
  • The purpose of the model
  • How to use the model to generate results
    (calculations)
  • How results are interpreted and used
  • What assumptions and limitations apply

23
Analysis of Tradeoffs
  • What are

Tradeoffs
24
Systems Approach
  • The whole is greater than the sum of the parts

25
Establishing Priorities - Pareto Phenomenon
  • Vital few vs. trivial many
  • 80/20 Rule - 80 of problems are caused by 20 of
    the activities

How do we identify the vital few?
26
Significant New Trends in OM
  • The Internet and e-business
  • Supply-chain management

27
Continuing Trends in OM
  • Quality and Process Improvement
  • Technology
  • Globalization
  • Operations Strategy
  • Environmental Issues

28
Recent Trends (Continued)
  • Corporate Downsizing
  • Lean Production

29
Production
  • Craft Production - Highly skilled workers use
    simple flexible tools to produce small quantities
    of customized goods.
  • Mass Production - Lower-skilled workers use
    specialized machinery to produce high volumes of
    standardized goods.
  • Lean Production - Uses minimal amounts of
    resources to produce high volumes of a variety of
    high-quality goods.
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