...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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...1. Why is it undesirable for the United States to evolve into a service economy? It is undesirable for the United States to evolve into a service economy because several problems arise if jobs shift from manufacturing to service. One is that service job pay less. Many service jobs are in minimum wage, while hourly wages from manufacturing jobs have historically exceeded the minimum wage by a substantial margin. As a result the standard living will necessarily decline. Furthermore, manufacturing allows the firm to capture payoff for 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...
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...[pic] |Kazakhstan Institute of Management, Economics and Strategic Research (KIMEP) International Summer School, 2011 OPM 5202 OPERATIONS MANAGEMENT | | [pic] OPM 5202 OPERATIONS MANAGEMENT Instructor: Dr. Ardeshir Lohrasbi Office: Telephone: FAX: Email:zlohrasbi@gmail.com Instructor: Dr. Ardeshir Lohrasbi Office: Office Hours: Tel: Fax: E-mail: zlohrasbi@gmail.com Website: https://edocs.uis.edu/alohr1/www Introduction: Welcome to OPM 5202 Operations Management .It is a great pleasure to have all of you in my class. I have been at University of Illinois Springfield in USA for 31 years and served as a Chair of Department of Business Administration , MBA director and Chair of Management Department for several times and my work was recognized last May at the University of Illinois Springfield Faculty Recognition.I taught in graduate and undergraduate online and on ground many different courses such as Production and Operations management, Project Management, Computer Software Application in Business, Service Management, Inventory Management…etc. and I have done a number of consulting for private and public services and presented many research papers at a local and national level. In this class I will share my life time experiences and teachings with all of you. My goal is you learn the course materials and be able to apply the topics, computer applications and techniques in the real world. For more information please...
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...Chapter Solutions Operations Management.pdf DOWNLOAD HERE CHAPTER 12: INVENTORY MANAGEMENT – Suggested Solutions to ... http://users.ipfw.edu/khamaljn/P301/Class_Notes/Solutions-Chapter12.pdf 1 BUS P301:01 CHAPTER 12: INVENTORY MANAGEMENT – Suggested Solutions to Selected Questions Summer II, 2009 Question 12.5 This is EOQ with D = 19,500 units/yr; H = $ ... CHAPTER 11 Operations Management http://www.eng.uwi.tt/depts/mech/ugrad/courses/meng3006/Week09b.pdf Operations Management, ... • To decouple operations ... CHAPTER 11 11-39 Inventory Management Economic Production Quantity I n v en t o r y L ev el CHAPTER 10 Operations Management - Academic Resources at ... http://academic.missouriwestern.edu/mlewis14/MGT%20416/Lectures/My%20Chap010.pdf Operations Management 8th edition 10-2 Quality Control CHAPTER 10 Quality Control McGraw-Hill/Irwin Operations Management, Eighth Edition, by William J. Stevenson PRODUCTION/OPERATIONS MANAGEMENT - … http://faculty-staff.ou.edu/B/Samir.Barman-1/POMsp02.doc PRODUCTION/OPERATIONS MANAGEMENT. BAD 5262 . SPRING 2002. Course Instructor: Samir Barman, Ph.D. ... Apr 02 Chapter 3 All Example Problems. Operations in a PR: 3.1-3.6 Chapter 7 Accounting for Financial Management http://harbert.auburn.edu/~yostkev/teaching/finc3630/notes/Chapter7solutions.pdf Chapter 7 Accounting for Financial Management ANSWERS TO END-OF-CHAPTER QUESTIONS 7-3 No, because the $20 million of retained earnings would probably not be held as cash...
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...1. Explain how operations management activities affect the customer experiences described in the Museum of Science and Industry anecdote at the beginning of this chapter. What “moments of truth” would a customer encounter? Operations Management, focuses on the goods, service and processes in creating customer experiences and satiations. This is done by job design and customer flow, the importance of service management skills, creating a demand, capacity and staff/show scheduling, employee training, purchasing, forecast call volume, determine the number of customers serviced to have on duty by the time of day, design of their jobs and training them to offer superior delivery of customer service. The anecdote at Chicago’s Museum of Science and Industry focuses on the role of guest call center, information services, exhibit maintenance, food service, protective services, facilities, operations, and processes in creating customer experiences and satisfaction. Moments of truth might include; buying a ticket and the associated service encounters with a call center, getting to the (parking, train, taxi, walk) museum site, web site or travel agency, waiting in line, food service, rest rooms, handicap and discarding trash processes, museum security, interactive museum and learning displays and continuous improvement orientation. 2. Explain why a bank teller, nurse, or flight attendant must have service management skills. How do the required skills differ for someone working...
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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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...MGT 657 Operations Management - Homework 2 Problem 1 A manager has the option of purchasing one, two, or three machines. Fixed costs and potential volumes are as follows: Number Total Annual Corresponding of machines Fixed Costs Range of Output 1 $ 9 600 0 to 300 2 $ 15 000 301 to 600 3 $ 20 000 601 to 900 Variable cost is $10 per unit, and revenue is $40 per unit. Help the manager determine break-even point for each range. If projected annual demand is between 580 and 660 units, how many machines should the manager purchase? Problem 2 A company is preparing to introduce a new product. Demand is uncertain. According to a market research conducted on behalf of the company, it is estimated that the demand can be High (H) with a probability 70% percent and Low (L) with a probability 30%. After the first 2 years if the initial demand is high, there is 15% likelihood that it will drop to Low and 85% likelihood that it will remain High. If, on the other hand, the initial demand is Low, it will remain Low with no chance to of increasing to High. The company has to select among 2 alternatives. A) start dynamically making a new big investment worth of 300000$ B) Start conservatively using existing equipment and technology and making a small investment of 100000$. In this case, and if the demand is high, the company may after 2 years make an additional investment to expand...
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...ChApter 18 Management of Waiting Lines Teaching Notes Some of the math and calculations can be left out in order to focus more clearly on the concepts of waiting lines. For example, all infinite source problems, including single channel (except constant service time) can be handled using the infinite source queuing table. In the past, queuing presented students with a good bit of computational requirements, and because of that, students frequently lost sight of the underlying concepts. With less emphasis on math of calculations, students can handle individual problems more quickly, allowing an instructor to assign a greater number of homework problems, and hopefully enabling students to enrich their experience with queuing vis a vis a variety of (short) problems. If you want to shorten the material somewhat, I would suggest omitting the finite source model and/or the multiple priority model. You can shorten the section even more by not assigning problems which require cost comparisons, although I personally feel that cost comparisons are perhaps the ultimate goal in an operations management course. Answers to Discussion and Review Questions 1. Queuing analysis is appropriate in analyzing capacity when service and/or arrival rates are highly variable. 2. Variations in service and/or arrival rates create instances in which demand temporarily exceeds capacity. 3. Commonly used measures of system performance include the average number waiting and average time they wait...
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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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...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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...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, I will be able to mitigate any potential risk situations that I may experience during the operation process of Right Here Chiseled Sessions (RHCS) and thus avoid any potential hiccups my firm may experienced during day to day business processing and ultimately decrease profit reduction scenarios. According to Jacobs & Chase, “Health care as a service is characterized by...
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...Running head: UNIT 1 Global Operations Management Unit 1 Global Operations Management Discussion Board MGMT 415-1103B-04 Instructor: Alfred Siu Christi Kerr AIU Online Unit 1 Global Operations Management Managing global operations have never been easy. However; managing global operations correctly shows in the bottom line in the company. There are many things that have changed global operations such as communications, transportation and cutting cost (Heizer 2012). The first example of a global operation that demonstrates a global management approach is the most familiar of all is Wal-Mart. They went international when they opened Sam’s Club near Mexico in 1991 and two years later Wal-Mart International was created. Wal-Mart has created stores with different formats and styles to fit their customers for each store in each country. Wherever Wal-Mart is located each store shares a common goal which is to save people money so they can live better. Today there are 5,236 stores and more than 730,000 associates in 14 countries outside the US (walmartinternationa.com). The second one is Hershey’s Chocolate Company and they are located in Canada, Mexico, Brazil, China, Korea and Japan. Hershey’s is committed to dealing fairly and ethically with all parties and at all points of the value chain and work hard to ensure the responsible and sustainability sourcing of raw materials and the safest possible processing of those materials and they do this for each and every plant...
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...USING TEAMS IN PRODUCTION AND OPERATIONS MANAGEMENT CONTEMPORARY BUSINESS MAY 13, 2012 Facts In this case study, I have been asked to research a leading manufacturer or a major retail or restaurant business. Analyze the company’s production and operations management system and evaluate the use of teams in its production and operations management. 1. Describe a major global corporation: (1) a leading manufacturer or (2) a major retail or restaurant business. Describe the type of business, market share, financials, size, and global presence; 2. Describe the company’s production or operations management; 3. Describe and evaluate the company’s use of teams in production and operations management; 4. Analyze and evaluate the company’s ability to adjust to a major economic, environmental, or natural crisis (such as the real estate crash, financial crisis, nuclear meltdown, hurricane, flood, oil spill, etc.) and communicate effectively with their employees and customers about issues caused by the crisis. Analysis Describe a major global corporation: (1) a leading manufacturer or (2) a major retail or restaurant business. Describe the type of business, market share, financials, size, and global presence. In this scenario, I am going to address the above mentioned topic, regarding describing a major global restaurant business. The restaurant business that I am going to discuss is the McDonalds Corporation. McDonalds for the past decade has lead the fast food industry...
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...Operations management can be defined as the planning, scheduling, and control of the activities that transform inputs into finished goods and services. In other words, it is ‘a field of study that focuses on the effective planning , scheduling, use, and control of a manufacturing or service organisation through the study of concepts from design engineering, industrial engineering, and management information systems, quality management, production management, accounting, and other functions as the affect the operation. Operations management concerns making the most efficient use of whatever resources an organisation to provide the finished goods or services that its customer need on time and cost effective manner. Operations management is related with the strategy of the organisation. In this coursework, we will demonstrate the relationship between the operations management and the strategy of the organisation with the help of a corporate entity. The corporate entity chosen is McDonald's Corporation. McDonald's Corporation is the world's largest chain of fast-food restaurants. The business began in 1940, with a restaurant opened by siblings Dick and Mac McDonald in San Bernardino, California. Today McDonald's restaurants are found in 120 countries and around the world and serve nearly 54 million customers each day. Product Planning Organisations exist to provide products and services which can be purchased by other organisations or an individual. Therefore planning of products...
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...Running Head: PRODUCTION AND OPERATION MANAGEMENT Production and Operation Management of Toyota Introduction In today’s fast moving economy, every organization needs to change their production and operation and provide effective products and services to the customers according to their needs and demands. This paper discusses the operation and production management system of Toyota and the use of teams in production and operation management. This paper also discusses the ability of Toyota to adjust the crisis. Toyota Motor Corporation Toyota is a leading car manufacture company in the world. Headquarter of Toyota is in Japan. The company deals in luxury cars, trucks and cabs and in recent year, company launched its hybrid car called “Prius” for the customers in the market. Toyota covers major shares in the market and ranked on number one in the year of 2010 with 8.6 million units produce globally. The market share of Toyota in FY 2011 is 11.5 percent (Bloomberg, 2011). The net revenue of Toyota in 2011 is $ 229.06 billion. The market capitalization of Toyota is $ 212.60 billion (Yahoo Finance, 2011). Company has the global presence and introduces new products and segment cars according to the needs and demand of the customers and market conditions of a country. Company operates their business in all five continents and has 77 manufacturing companies in 27 countries of the world, which produce different luxury and segment cars, trucks etc. and the components...
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