...business idea thought up by two roommates who are trying to tap into a market which caters to starving college students in the late night hours. The proposed idea is to offer freshly baked made-to-order cookies late at night for students within an hour. Although, the concept is good, the purpose of this analysis is to determine the components that can make or break this company’s success. The ultimate goal of the company is to comprise a price that is affordable, yet profitable to the two owners. The key points that need to be evaluated would be the production process along with fees for the services, will they be able to profit based of the cost put into the business, ordering capacity based off the equipment currently owned and times of operations, the amount materials that should be in the inventory, and man-power. The students already own key equipment like the mixers, cookie pans that hold a dozen cookies, and the oven, so no investment is needed in this area. Expenses like electricity are covered by the landlord, so this is another item not necessary for the operational budget to start. The input to consider would be the man-power, ingredients which cost sixty per dozen, and ten cent per box. The value of time which is estimated to be four hours per night limited to 1 dozen at a time, guarantee 100% accuracy with the electronic system that take customer orders. Analysis The Kristen’s Cookie Company (KCC) business concepts has some areas that reflect some strengths...
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...Through effective use of operations management, project management, and information systems management Ohio Star forge will be able to ensure that expanding into a larger automotive ball bearing market will add value for the stakeholder. Operations management is critical to securing the needed resources from their parent company Daido Steel. Project management is essential to ensure that all resources will be used efficiently. Finally, information systems management will facilitate both operations and project management through information exchange and collaboration. Discussion The challenge at Ohio Star Forge (OSF) is to be able to capitalize on the reduction in the total capacity of the automotive ball bearing manufacturing market in the United States due to the merging of several companies. The total capacity in the US market has shrunk by 38% in the last several years. To be able to capitalize on the market demand for automotive ball bearings due to limited supply a new, larger machine must be purchased and put into production before the competition to seize the market. Operations Management Operations Management (OM) is the ability of organizations to reach their goals through effective acquisition and utilization of resources (Bayraktar, Jothishankar, & Tatoglu, 2007, p. 844). OM is involved in the continuous day-to-day operations or ongoing business processes. The goal of OSF is to increase sales, market share, and profitability...
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...Running head: Human Resources Verses Operations Comparing Operations Project and Human Resources Management Principles Tami Webb Kaplan University MT 435- Operations Management June 22, 2015 Comparing Operations Project and Human Resources Management Principles The purpose of this paper is to discuss and compare the project principles of operations management (OM) to those of human resource management (HRM). OM and HRM have historically been separate parts of an organization. Competencies that were once defined by OM have now integrated with the HR professionals behavioral and technical competencies required to perform a specific role. I will begin with discussing operations program management principles and then follow with human resource management principles. Both areas are strategic initiatives for organizations to continue growth over time and both are keys to a company’s success. Success or failure in either area can make the difference in the overall effectiveness of the company goals and vision. Creating standardizations or certifications for particular skill sets is necessary for specialized work. Operations Project Management When organizations have a culture that encourages knowledge transfer and an atmosphere centered on professional growth, they create a value that encourages buy-in of company goals and visions. Knowledge transfer is not just on the job training, but rather a precise and methodical transfer of wisdom and insight from key...
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...Question 1 : What is the difference between operations management and process management? Operation Management How the company manages its operation, shall be the key answer to it. In fact, Operation Management is one of the topmost important factor for a company’s success. Having said that, OM helps the organization to recognize “what are” the process, people, decisions, responsibilities and “how” the available resources can be utilized and maximized to deliver the goods or satisfactory services to the clients. Process Management A type of management that deals directly with the organization’s ways of aligning the series of activities involved in any of its operational process, with the aim to clearly define how the entire process is performing. One of the example of process management is “Business Process Management (BPM) . The main purpose of process management is to minimize errors due to human and reduces miscommunication and increase productivity. In your opinion why might it be necessary to have the two terms? Having this as a simple illustration, a client company (DEF) requires its supplier company (ABC) to send its ordered goods from KL to Penang in half a day time. As an Operation Manager of ABC company, Mr. Kuak plans what are needed for the delivery of the goods. He needs to get a driver in a pink of health and choose one of its best truck that’s capable to drive long distance. Where as, Mr. Lan the process manager, decides how the driving journey be conducted...
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...1 PRODUCTION AND OPERATIONS MANAGEMENT Introduction Product. Production. Management. Production and Operations Management an Overview. Definition of Production Operations Management. Objectives of Production Management. Scope of Production Management. Benefits derived from efficient Production Management Department. Functions of Production Management. Types of Production Systems. Characteristics of production systems and Production cycle. INTRODUCTION The Subject of Production Management is studied under different Headings-such as Production Planning and control, Production and Inventory control, production and operations control and many more. What ever may be the title of the subject, the contents of the subject are more or less one and the same. Before we discuss about production management, let us discuss about product, production and management. This will give us a rough idea about production Management and with what a production manager has to deal with. 1.1. PRODUCT Though many authors define the product with Consumer orientation, it is better for us to deal with different angles, because it will be helpful for us to understand the subject of production and Operation Management. (i) For a Consumer: The product is a combination of or optimal mix of potential utilities. This is because every consumer expects some use or uses from the product. Hence he/she always identifies the product in terms of the uses. Say for example-Soap can be identified by complexion, cleanliness...
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...EDUCATION COURSE DESCRIPTION: The content of this course is intended as introduction to the field of production and operations management. Production Operation Management [POM] techniques were initially developed for manufacturing organizations. However, as time went on, non-manufacturing firms have to contend with problems similar to those encountered in the manufacturing sector. Consequently, the scope of POM has expanded to cover both manufacturing and service organizations. It includes topics such as productivity, competitiveness, strategy, forecasting, quality management, product and service design etc. Learning objectives 1. To understand and comprehend the production and operations management terminology. 2. To develop certain quantitative skills, competencies, and points of view needed by organizations involved in the Input, Transformation and Output process. 3. To be able to adequately produce written assignment reports on operations management processes. CLASS CONDUCT All reports of assignments should be submitted on time. Class participation includes attendance, in-class assignments and participating in class discussions. Late reports of assignments and/or Late-homework will not be accepted. Lateness and absences will affect your grade. RECOMMENDED REFERENCES ✓ Books on Production/Operations Management (recent editions) STUDENT EVALUATION: • Case study presentation ................................................
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...and operations, but the interrelationship between this function and other functions of the organization such marketing, finance and human resources. As a company grows, no one person can do everything. There are different areas of activity that take different styles or knowledge. Production and operations will not be complete without successful mobilization and application of financial resources towards the production activity. At the same time, organizations must also ensure that the output of production is conveyed successfully to the target customer through effective marketing. Finance ties all departments together with monetary measurements that tell whether the organization is making money. They also regulate the acquisition of funds to keep the business going on, and investing money received wisely. Sales and Marketing are usually lumped together into a group that focuses on maintaining and attracting customers to the company's products and services. Other functional areas that might interface with production and operations to make the organization successful include the following sections: Research and Development, Transportation, Information Services, Security, Medical, Government Relations and Training. QUESTION TWO: a) Operations strategy Operations strategy is the development of a long-term plan for using the major resources of the firm for a high degree of compatibility between these resources and the firm’s long term corporate strategy. Operations strategy...
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...Care maintenance in regards to quality health fitness preservation. My capstone project is based on opening a health and fitness firm that is titled Right Here Chiseled Sessions (RHCS). RHCS health firm will utilize redesigned trailers fitted to service as mobile mini-gyms. RHCS will offer personal training, hourly gym equipment use and physical therapy to our customers from the convenience of a location right outside their residential or business address. This venture offers a high level of opportunity. Opportunities can be connected to servicing clientele at their current residential location. Services and products offered vary from hourly gym use to recover protein shakes. Added value can be found in the ability for our services to eliminate or decrease inconsistencies associated with sticking to a workout schedule. Onsite services decreases the level of motivation needed to gather one’s self and commuting to the area local gym. People aim to locate ease in processes they consider the hardest to do or maintain. With that being said, I believe it is very rational and profitable to pursue this venture in this industry. I will leverage this OM topic with a focus angled to my capstone project that will deal with the following key elements: • Workforce scheduling • Capacity planning • Quality management and process improvement • Trends in Healthcare (very important) • Inventory management I believe that by focusing on these core elements in relation to Health Care processes...
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...assignment. First of all we would like to thank our teacher Mr. Maksudul Karim who has been very polite and helpful in giving us instructions and elaborately discuss of the key features of these assignment. I wish to thank my parents for their undivided support and interest who inspired us and encouraged us to go our own way, without whom I would be unable to complete my project. At last but not the least I want to thank my friends who appreciated me for my work and motivated me and finally to God who made all the things possible. Then comes our friends who have helped us giving ideas and lots of information, thoughts & made this project easy and accurate. Despite of their busy schedules they never ignored to help us. We will try to the best for this assignment. 01. Introduction: Every company has to perform some operation process, it is essential for big or small company. Without a operation system a company cannot go ahead. Operation management is the management of system or process that create goods or provide services. For any type of goods or services need the operation process. Operation management may be defined as managing the resources required to produce the product or services provided by a organization. Company Profile. Rubiaya Knitwear Ltd. Basically they produce T-shirt .It is 100% export oriented garments. They export most of their product in European countries and America. They start their activities in 2006in the month of October. their capital ...
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... Analysis of Companies, Select a Company Introduction of Client Company (Super Bank) Client Company is a financial institute named as Super Bank which serves their customers on daily basis via several nationwide branches and their ATMs accordingly. As discussed in last assignment, the current data service provider’s poor performance is badly affecting the company business and so an initiative has been taken to introduce a new service provider for smooth and seamless operation of Super Bank. Super bank has currently 100 nationwide branches and 50 ATMs and their Head office is located in Lahore. Following are some of the departments which are included in the completion of their new project, as they have to search a service provider that has to satisfy their specifications. 1. Network Support Department (NSD) This department includes the professional network Engineers which are monitoring the network of all the branches with Head Office. Link of each branch is monitored via NMS (Network Management System) ORION. Department contains a Head of Department, Manager Networks, an Assistant Manager Networks and Network engineers. So this team has to be familiar with the new data services provided by a provider and their devices which will be placed in each branch. 2. System Support Department (SSD) System engineers in this department are responsible for overall maintenance of the internal network of each branch i.e LAN side. They are divided among regions and require...
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...Welcome to OPERATIONS MANAGEMENT Operations Management is important, exciting, challenging, and everywhere your look! Important, because it’s concerned with creating all of the products and services upon which we depend. Exciting, because it’s at the centre of so many of the changes affecting the world of business. Challenging, because the solutions that we find need to work globally and responsibly within society and the environment. And everywhere, because every service and product that you use – the cereal you eat at breakfast, the chair you sit on, and the radio station you listen to while you eat – is the result of an operation or process. Our aim in writing Operations Management is to give you a comprehensive understanding of the issues and techniques of operations management, and to help you get a great final result in your course. Here’s how you might make the most of the text: ● Get ahead with the latest developments – from the up-to-the-minute Operations in practice features in every chapter to the focus on corporate social responsibility in the final chapter – these put you at the cutting edge. ● Use the Worked examples and Problems and applications to improve your use of key quantitative and qualitative techniques, and work your way to better grades in your assignments and exams. ● Follow up on the recommended readings at the end of each chapter. They’re specially selected to enhance your learning and give you an edge in your course...
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...Executive Summary Greg Hunter OPS/571 05/05/2014 Dr. Raymond House Jr. Executive Summary I’ve selected food services and cars for a suitable process and product design approaches. In order to manage services and deliver on-site services, there are three types of contrasting approaches which include product line approach, self-service approach, and the personal attention approach. Cars are a way of life these days without them our way of life cannot exist. The main focal point in this industry is the result. A car company must produce a quality product that fits the end-user's taste. The three main line item approaches I will discuss will be the job process, batch production, and assembly line. All are a part of the manufacturing of cars. Process Design Matrix Self-service Approach The self-service approach is more consumers driven. The efficiency of this service process can be enhanced E-tickets, Automatic teller machines, company websites which these are just some of the approaches that shift the burden to the consumer (Larson & Gray, 2006). This design approach will also be supportive of the food company, in terms of offering good quality of products to the customers as well as reducing time of service delivery (Chase, 2006). For the reason, due to self-service approach the company will be able to focus on the delivery of effective and efficient services in a less period. Product Line Approach The main focus of this approach is on the efficient...
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...Programme OPERATIONS MANAGEMENT ASSIGNMENT OCTOBER 2010 – SEPTEMBER 2011 Sections: Page 1 Course Overview 2 2 Assignment topics 4 3 Writing up your assignment (Individual or Group) 7 4 Guide to approaching case studies 12 Class title Operations Management Credits 10 Class aims Operations Management refers to those activities which are more or less directly concerned with the creation and delivery of goods and services. The course is intended to give you a theoretical framework for thinking about operations in both manufacturing and service contexts and to describe some practical applications of operations management. In the course we will address key aspects of design, planning and control of operations systems, and to provide an understanding of the operations function in a global context. Learning outcomes Subject specific knowledge and skills including: • Understand the history of Operations Management as a subject and consider the challenges facing Operations in future with particular reference to service operations, value adding and sustainable competition. • Understand the need for an Operations Strategy to operate with a Business Strategy • Describe Operational strategies in terms of Fit, Sustainability and Risk • Assess the choices and trade-offs inherent in developing an operations strategy (assessment of alternative strategies) • Describe the nature of operations as an...
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...Production and Operations Management –MGT613 INTRODUCTION TO PRODUCTION AND OPERATIONS MANAGEMENT VU Lesson 01 POMA Previously called Production Management Then Production and Operations Management Often called Operations Management Should not be confused with Operations Research or Production Management which are the domain of Mechanical and Industrial Engineering. THE COURSE CONTENT Tentative Course Content Units of Learning wise Unit I ( Introduction and Productivity, Strategy and Competitiveness) Unit II ( Forecasting) Unit III ( Design of Production Systems) Unit III ( Quality) Unit V ( Operating and Controlling the System) Tentative Course Content Lecture wise Unit I ( 5 Lectures) Unit II (3 Lectures) Unit III ( 12 Lectures) Unit III ( 10 Lectures) Unit V ( 15 Lectures) History of Management Frederick Taylor and Gilbreths (Lillian and Frank Gilbreth) are pioneers of transforming management to scientific domain. Borrows a lot of information from Engineering and Management to give an overall bigger picture of operating and managing any organization. Difference between Operations Management and Research OR relies on mathematical modeling and OM relies on practical scenarios/industrial cases. OR domain and tool of Engineers while OM is considered to be one of the critical tools of Managers. OR considered more powerful to improve the whole system where as OM can be applied to a part of the system. OR relies on mathematical modeling while OM relies on practical scenarios/industrial...
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...the development of new technology. If this payoff is lost, so is the incentive to invest in research. The decline of manufacturing domestically has led to a shift in jobs from the manufacturing sector to the service sector. Because there are major disparities in labor costs in different parts of the world, there are strong incentives for American firms to locate volume manufacturing facilities overseas to reduce labor costs. 2.What disadvantages do you see if the CEO is primarily concerned with the short-term ROI? In the short term, decreasing the denominator by cutting back on the investment in new technologies or new facilities. Performance is measured over short time horizons. There is little motivation for a CEO to invest in a project that is not likely to bear fruit. 3.Can you think of companies that have gone out of business because they focused only on cost and were not able to achieve a minimum quality standard? -“Enron went from the No. 7 company on the Fortune 500 to a penny stock in a stunning three weeks because it apparently lied on its financial statements,” said Representative John D. Dingell, one-time member of the House Energy Committee. While other parts of the world have experienced spectacular problems as well (such as the Asian financial crisis that hit in the late 1990s), few Americans can understand how a...
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