Case Study #1 – Hazel BSC 405: Business Operations Professor Jim Beam August 5‚ 2012 | | | | | | By: Joe Mama | | | | Hazel Hazel worked for a fortune 500 company for the past 15 years. The company itself has been slow during the down economy of the last few years‚ but recently things were beginning to turn around. Customer orders were on their way up and quality and productivity have dramatically improved as well. Things
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FUNCTIONS OF MANAGEMENT Planning It is the basic function of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals. According to KOONTZ‚ “Planning is deciding in advance - what to do‚ when to do & how to do. It bridges the gap from where we are & where we want to be”. A plan is a future course of actions. It is an exercise in problem solving & decision making. Planning
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sales as reported were 23.1 billion. It took long time and careful planning for Ikea to offer sophisticated products to customers at reasonable price. According to slack operation (2010) management deal how company manage its operation production and sales being two important part of it. Ikea embracing the idea of operation management creates and implements strategies in a way that the requirements of the customers and satisfied in optimum level. This report shows how IKEA thought being an outsder have
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PRODUCTION & OPERATIONS MANAGEMENT Forecasting helps managers and businesses develop meaningful plans and reduce uncertainty of events in the future. Managers want to match supply with demand; therefore‚ it is essential for them to forecast how much space they need for supply to each demand. 1.1 QUANTITATIVE TECHNIQUES * LINEAR TREND Show steady‚ straight-line increases or decreases where the trend-line can go up or down and the angle may be steep or shallow
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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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Introduction Prof. Christian Terwiesch Operations in a Restaurant Prof. Christian Terwiesch Operations in an Emergency Room Prof. Christian Terwiesch Operations from the Perspective of the Customer Prof. Christian Terwiesch Four Dimensions of Performance Cost Quality ▪ Efficiency ▪ Product quality (how good?) ▪ Process quality (as good as promised?) Variety Time ▪ Customer heterogeneity ▪ Responsiveness to demand Important for - Performance measurement
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1. Cases 2 1.1. Leo’s Four-Plex Theater‚ Wong’s Pharmacy & Private Fitness‚ Inc. 2 1.1.1. Subjects 2 1.1.2. Summary Leo’s Four-Plex Theater 10 1.1.3. Q&A Leo’s Four-Plex Theater 10 Problems 11 What are the control system lacking 11 Solution 11 Cashier problem 11 Giving away free tickets – the nephew 12 Cashiers don’t ring the sales in 12 Free let-ins 12 1.1.4. Summary Wong’s Pharmacy 12 1.1.5. Q&A Wong’s Pharmacy 12 Problem 12 Options 12 1.1.6. Summary Private Fitness‚ Inc. 13 1
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What is operations management? Operations management is an area of management concerned with overseeing‚ designing‚ and controlling the process of production and redesigning business operations in the production of goods and/or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed‚ and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (in the forms
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1. Why is operations management a more encompassing term than production management? A. Operations management is concerned with multiple products and services B. Operations management refers to service as well as manufacturing organizations C. Operations management is broader including the financing and marketing functions D. Operations management makes use of the tools of quantitative analysis and computer systems 2. Which of the following functions is responsible for the actual movement
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Operations Management Definition Introduction In today ’s fast-paced ever-changing business world‚ organizations must deal with many diverse issues. These issues range from maintaining their competitive edge in a fierce marketplace to social‚ ethical and concerns regarding the health and well being of their employees. The advent of new technologies has created organizational efficiencies however; it is a well-known fact that healthcare has lagged behind other industries with regard to
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