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Lgt 2106 Notes

Essay by   •  March 6, 2016  •  Coursework  •  489 Words (2 Pages)  •  1,224 Views

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Lecture 1 Introduction

What’s Operation Management?

  • Management of the conversion process
  • Transforms inputs to outputs
  • Focusing on adding value
  • The study and practice of better matching supply and demand

Value Chain

  • All steps an organization requires a good/ a service
  • Aims: Eliminate all non-value-added steps

(Top-down Approach) Operations strategy decisions

  • (long-range) Strategic: needs of customers (capacity planning)
  • (medium-range) Tactical: efficient planning of resources
  • (short-range) Planning and control: immediate tasks and activities

Contribution to Society

  • higher standard of living: increase productivity
  • better quality goods and services: competition
  • concern of the environment: recycling
  • improved working conditions: better job design

OM from manufacturing services

Goods

Services

Tangible

Intangible

Can be inventoried

Cannot be inventoried

Less interaction between customer & process

Direct interaction between customer & process

Competitive Dimensions

  1. Price low cost
  2. Quality great product/service
  3. Delivery speed make/deliver quickly
  4. Delivery reliability deliver as promised
  5. Coping with changes in demand change volume & variety
  6. Flexibility & new product introduction quick to market

Order Qualifier

A screening criterion

Permits a firm’s products to be considered as possible for purchase

a firm must “re-quality the order qualifiers” every day

e.g. automobile a car can run

Quality standard: ISO9000, ISO14000, QS9000

Order winners

A criterion that differentiates the products from others

drives the customer to buy a product  Competitive Dimensions

e.g. automobile after-sale service

environmental concern & social responsibility

green production, emission control

Order winners

  1. cost/price make/deliver cheaply
  2. quality         design/processdefect-free
  3. delivery speed make/deliver quickly
  4. delivery reliability supply the product on/before the due date


Lecture 2 Supply Chain Management

What’s Supply Chain Management?

long term relationship (a firm and suppliers)

to ensure the timely delivery of goods & services

that are competitively priced

A company’s supply chain

Supplierscompanycustomers

Evolution of supply chain management

  1. Isolating the technical core
  2. JIT concepts
  3. Using a single logistics partner
  4. Bringing suppliers into plant

Uncertainty create mismatch between supply and demand

Product

Supply Process

Functional

Stable demand

Low profit margin

Stable

Can be produced in predicable way

Innovative

High degree of innovation

Unstable demand

High profit margin

Evolving

Lacks stability in the way it is produced

Demand Uncertainty

Low

High

Supply Uncertainty

Functional

Innovative

Low

Stable

Efficient supply chain

(basic apparel)

Responsive

(fashion apparel)

High

Evolving

Risk-hedging

(fresh food)

Agile

(new tech)

...

...

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