Managerial Decisions

These 10 managerial decisions that should be made:

1. Design of goods and services

2. Managing quality

3. Process and capacity design

4. Location strategy

5. Layout strategy

6. Human resources and job design

7. Supply chain management

8. Inventory strategy

9. Scheduling

10. Maintenance

Mathematical model can help us make these decisions

1. Design of goods and services: offering the most popular and unique clothes products, computing amount of products we should produce.

2. Managing quality: controlling the best quality through the mathematical model, such as the ratio of the defective goods and customer complaints.

3. Manufacturing process and capacity design: we are looking for the high-efficiency processes and lowest the manufacturing costs.

4. Location strategy. Depends on the profits and costs modeling that might help us to decide the stores and factory location.

5. Layout strategy. To find out, how big our store and factory to meet our expectation, and how the clothes and equipment arranged to meet the highest efficiency.

6. Human resources and job design: How much the wages should be set? What rate of personal sales should be added into the salesman’s salary?

7. Supply chain management: Which supplier should we select? How to manage and integrate with our company’s strategy.

8. Inventory strategy. Figure out the right amount of inventory should be kept, and when we want to buy more raw materials.

9. Scheduling. When do we want to manufacture and sell new style clothes? When should we open and close our store?

10. Maintenance: How long should we maintenance our equipment? What equipment should be maintenance regularly?

Attributes Characteristics, properties, or adjectives that describe each class Cloud Computing Internet-based computing, where shared resources, software, and information are provided to firms on demand Data Dictionary Describes the data fields in each database record such as field description, field length, field type (ex. alphanumeric, numeric, etc.) Database A shared collection of logically related data for various uses Database Administrator The person responsible for the design, implementation, repair, and security of a firm's database. Database Management System (DBMS) A computer program that creates, modifies, and queries the database. Specifically, the DBMS is designed to manage a database's storage and retrieval of information. Enterprise System (ES) Commercialized information system that integrates and automates business processes across a firm's value chain located within and across organizations Entity integrity rule The primary key of a table must have data values (cannot be null) Foreign Key (FK) Attribute that allows database tables to be linked together; they are the primary keys of other tables placed in the current table to support the link between the two tables. Primary Key (PK) An attribute or a combination of attributes that uniquely identifies an instance of a class in a data model or a specific row in a table Query A tool used to retrieve and display data derived from records stored within the database Referential Integrity Rule The data value for a foreign key must either be null or match one of the data values that already exist in the corresponding table. Relational Data Model Stores information in the form of related two-dimensional tables Report used to integrate data from one or more queries and tables to provide useful information to decision makers Structured Query Language A computer language designed to retrieve data from a relational database Agents the people or organizations who participate in business events, such as customers and salespeople. Cash disbursements record payments of cash to external agents (eg, suppliers) and the corresponding reduction in cash accounts. This is considered and event. Collaboration a BPMN model showing two participant pools and the interactions between them within a process. Events classes that model the organization’s transactions, usually affecting the organization’s resources, such as sales and cash receipts. Many to many relationships Exist when instances of now class are related to many instances of another class and vice versa. These relationships are implemented in Access and relational databases by adding a linking table to convert the many to many relationships into two one to many relationships. One to many relationship Exists when instances of one class are related to multiple instances of another class. For example, a customer can participate in many sales, but each sale involves only one customer. Purchase order A commitment event that process the economic purchase event. It records formal offers to suppliers to pay them if the supplier complies with the terms of the purchase order. Purchases Records the receipt of goods or services from a supplier and the corresponding obligation to pay the supplier. These are considered events. REA resource-event-agent framework for modeling business processes, originally developed by William McCarthy. Resources those things that have economic value to a firm, such as cash and products. Suppliers In the UML diagram of the purchases and payments process, the external agents from whom goods and services are purchased and to whom payments are made. Type image Class that represents management information to help manage a business process. Type image often allows process information to be summarized by category. Finished goods inventory for a manufacturing company, the inventory that has completed the manufacturing process and is held for sale to customers. Production authorization event In a UML class model of the conversion process, an event that records the authorization to produce one or more finished good inventory items Raw material issue event In a UML class diagram