MB0044 – Production & Operations Management Q.1. what do you understand by Vendor-managed Inventory (VMI)? Ans. Vendor managed inventory: The very purpose of JIT is to reduce Inventory at all places in the supply chain. Inventory is considered a waste because Inventory is created by using materials‚ machines and efforts of persons. All of these Are resources which have already been used up and that portion of it which is not Consumed and sent up the value chain causes a drag on the system
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Chapter 1 The Operations Function Teaching Notes This chapter is aimed at providing an overall framework for the textbook‚ the field of operations management (OM)‚ and a brief introduction of supply chain management. The chapter provides a framework that serves as a beneficial way of organizing students’ understanding of major operations management decisions: process‚ quality‚ capacity‚ and inventory. The cross-functional view of operations management and supply chain management
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2) Sustainability is coming‚ and operations leaders need to understand how to implement it within their organization in a manner that pays for itself. Good corporate citizenship is nice‚ but you’ve got to be able to sharpen your operation with your sustainability efforts as well. Turning it into a business model improvement rather than a cost item can be a challenge. 3) Learning the Genius of AND (borrowed from Jim Collins‚ "Built to Last") - having operational excellence AND innovation‚ sustainability
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once were. As a consultant called in for advice‚ I see several problems in the company’s production as well as quality control. The decline has less to do with “the economy” and more in Toys‚ Inc’s approach to their management of quality. As Stevenson (2012) reminds us‚ “top management has the ultimate responsibility for quality” (pg. 377). The recent moves to make cuts in production costs and layoffs in the design and development departments are going to do more harm than good to the company’s
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Chapter 19 Read Pages 483-506 ASSIGNMENT DUE DATE: _______ Historical Terms and Concepts: Please include the significance for each term/concept. 1. Bantu Migrations migrations of the Bantu people that helped to spread agriculture and herding to many areas of Sub-Saharan Africa‚ iron metallurgy‚ and rapidly increased the population. (started around 2000 BCE)‚ linguistically influential. 2. Stateless society term relating to societies such as those of sub-Saharan Africa after the
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Introduction to Operations Management Contents: 1- What Is Operations Management (OM)? 2- OM Decisions. 3- Contributions of OM to the society. 4- The emergence of OM. 5- The Ever-Changing World of Operations Management. 6- Historical Development of OM. 7- The Main Challenges Face OM (+ in Sudan) – “ASSIGNMENT” 1-What is Operations Management? 1- Operations Management (OM) is the management of the direct recourses that are required to produce and deliver an organization’s goods
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Five Types of IT Operations Systems BSA/310 September 14‚ 2012 Mr. Joseph XXXXX Five Types of IT systems for Company Operations The Information Technology (IT) is everywhere‚ is the driving force how we access information‚ how business are conduct and how we live our life. This technology give companies the each of how remain competitive in the 21th century. Information Technology is a continuous growing field‚ the most important tool for business to growth‚ creating at the same time
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NOTE 1: A candidate with a MBA in Operation Management would be able to look after a factory or other operations of the factory in a better manner as compared to others due to their competency and knowledge regarding handling the operations of an organization.Depending on the type of organization‚ one might be responsible for a few activities / regions in the initial stages and consequently growing up to handling broader areas. This career involves handling a few plants/ vendors initially
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Abstract Starbucks Coffee Company was founded in 1971 as a delicate coffee and tea vendor. In 1985‚ chairman and CEO Howard Schultz altered the business into what it is now - an international coffee brand manufactured on the wisdom of coffee‚ high-quality goods‚ and a desire for teaching customers about the values of coffees and teas. Today‚ Starbucks has expanded from its Seattle roots and markets imported coffee‚ fine teas‚ Italian style espresso‚ cold beverages‚ food products and coffee fixtures
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placed every 0.5 months‚ and the cost to place an order is $50‚ what is the annual ordering cost? ------------------------------------------------- Answer | | 50 | | | 600 | | | 1200 | | | 2400 | | | Can not be determined | 5 points Question 3 1. ------------------------------------------------- ------------------------------------------------- If the Economic Order Quantity (EOQ) is ordered‚ which of the following is true? ------------------------------------------------- Answer
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