STUDY OUTLINE FOR CHAPTER 1 INTRODUCTION TO Operations Management 1. Operations management is… 1) Operations management is the management of systems or processes that create goods and/or provide services. 2. What are the three basic functions in business organizations? 2) 1) Finance 3) 2) Operations 4) 3) Marketing 3. A supply chain consists of 4. What is meant by the term value-added? The value-added is the difference between the cost of inputs and the value or
Premium Management
Section 1 (Strategy)-Page 37‚38‚39 QUSETION 1 Average monthly productivity (units/hour) for the month of: |MONTHS |PRODUCTIVITY | |January |2300 / (325*3) = 2.36 | |February |1800/ (200*5) = 1.80 | |March |2800/ (400*4) = 1.75 | |April |3000/ (320*4) = 2.34 | Average Monthly Productivity= (2.36+1.80+1.75+2.34)/4 = 2.06 QUESTION 2 Productivity = sales
Premium Productivity
Q1: A manufacturer’s average work-in-process inventory for a certain part is 1‚000 units. The workstation produces this part at the rate of 200 units per day. What is the average time a unit spends at this workstation? Inventory‚ ‚ Throughput‚ . Thus‚ Flow time‚ . A unit spends an average time of 5 days at this workstation. Q2: The Wilcox Student Health Center has just implemented a new computer system and service process to “improve efficiency.” As pharmacy manager‚ you are concerned
Premium Hospital Physician Patient
Operations Management and Ethics Operations management may be defined as the design‚ operation‚ and improvement of the production system that creates the firm ’s primary products and services‚ or‚ as Chase‚ Jacobs & Aquilano (2006) state "operations management is about getting the day-to-day work done quickly‚ efficiently‚ without errors‚ and at low cost". Operations management is critically important in any organization or business nowadays. Operations management is one of the three major functions
Premium Management Business ethics Ethics
2/21/2014 EM 502 OPERATIONS MANAGEMENT INTRODUCTION Middle East Technical University 1 Department of Industrial Engineering 06531 Ankara / Turkey General Information • Textbook: Operations Management by Heizer and Render‚ Prentice Hall‚ 10th Edition‚ 2010. • Grading – Midterm Exams (2) 60% – Final (Comprehensive) 20% – Case Studies (2 or 3 – team work) 20% Middle East Technical University 2 Department of Industrial Engineering 06531 Ankara / Turkey 1 2/21/2014 Outline • • • • • • • •
Premium Supply chain management Management Supply chain
Indian Institute of Management Kozhikode Course Outline Course Title : Service Operations Management (SOM) Course Code : SM05-06 Credits : 2 Term : Quarter-II (25 March- 30 June 2013) Year : 2013-14 Faculty : Prof. S. Venkataramanaiah __________________________________________________________________________ Introduction & Objective(s): Manufacturing‚ service and agriculture are the major economic activities in any country. In India‚ manufacturing and services together constitute nearly 75% of
Premium Management Service system
ABSTRACT This paper defines the four functions of management and the operations management theory. It then provides an analysis of how the functions of management the operations management. THE FOUR FUNCTIONS OF MANAGEMENT Planning: It is an act of formulating a program for a definitive course of action. The management defines a goal and puts forward its strategies to accomplish the objectives defined. Organizing: To divide the work force into specific groups and giving each group a specific
Premium Management
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
Premium Management Supply chain management
Operations Management in Business Table of Contents Introduction..............................................................................................................................3 LO 1 LO1.1 Explain the importance of operational management.......................................................4 LO1.2 Explain the need to produce safely; on time; to cost; to quality and within the law......6 LO1.3 Explain the link between operations management and strategic planning...........
Premium Management Project management Operations management
Table of Contents Case: Operations Management at Toyota 2 Conclusion 3 Case: Southwest Airlines Operation Management 3 Background: 3 Analysis of operation Management: 4 Conclusion 6 References: 7 Southwest Airlines Operations - A Strategic Perspective 7 Case: Operations Management at Toyota Toyota is among the leading automobile manufacturers of the world selling almost 9 million models at all the five continents. Toyota has been awarded a position in the top 10 fortune global 500 enterprise
Premium Southwest Airlines Airline Low-cost carrier