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MGT 2070 (5)
Lecture

MGT2070 - Ch. 1&2.docx

by OneClass62557 , Fall 2012
4 Pages
104 Views

Department
Management
Course Code
MGT 2070
Professor
Barry Stannard

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MGT 2070: Operations Management September 5, 2012
Chapter 1: Intro to Operations Management
Operations management: management of processes and the systems that create G & S.
o System: set of interrelated parts that must work together
o Process: series of linked actions, changes, or functions bringing about a result
3 types
Core directly creates products/services
Support processes support core processes
Managerial processes govern the system
A typical organization has three basic functions
o Operations
Inputs are used to obtain finished goods or services using one or more
transformation/conversion processes
Essence of operations function is to add value during the transformation process
Value added: describes the difference between the cost of inputs and the
value of outputs
o Finance
Provision of funds
Economic analysis of investment proposals
o Marketing
Responsible for assessing customer wants and needs, and for communicating those
needs and feedback to operations people and to product design people
Lead time: the time between ordering a good/service and receiving it
Marketing needs this from operations in order to give customers realistic
estimated of how long it will take to fill orders.
o Other functions
Accounting
Operations provide relevant data
Accounting provides financial analysis for performance and decisions
Management information systems (MIS)
Operations provide understanding of infrastructural and system needs
MIS provides systems for planning and control, and improvement
Purchasing
Human resources management
Operations provides understanding of human resource needs
HR provides recruitment development and training
Manufacturing engineering
Operations provides understanding of process technology needs
Engineering provides analysis of new technology options
Maintenance
Product Design

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Description
MGT 2070: Operations Management September 5, 2012 Chapter 1: Intro to Operations Management  Operations management: management of processes and the systems that create G & S. o System: set of interrelated parts that must work together o Process: series of linked actions, changes, or functions bringing about a result  3 types  Core directly creates products/services  Support processes support core processes  Managerial processes govern the system  A typical organization has three basic functions o Operations  Inputs are used to obtain finished goods or services using one or more transformation/conversion processes  Essence of operations function is to add value during the transformation process  Value added: describes the difference between the cost of inputs and the value of outputs o Finance  Provision of funds  Economic analysis of investment proposals o Marketing  Responsible for assessing customer wants and needs, and for communicating those needs and feedback to operations people and to product design people  Lead time: the time between ordering a good/service and receiving it  Marketing needs this from operations in order to give customers realistic estimated of how long it will take to fill orders. o Other functions  Accounting  Operations provide relevant data  Accounting provides financial analysis for performance and decisions  Management information systems (MIS)  Operations provide understanding of infrastructural and system needs  MIS provides systems for planning and control, and improvement  Purchasing  Human resources management  Operations provides understanding of human resource needs  HR provides recruitment development and training  Manufacturing engineering  Operations provides understanding of process technology needs  Engineering provides analysis of new technology options  Maintenance  Product Design MGT 2070: Operations Management September 5, 2012  Operations provides understanding of capabilities and constraints of operations processes  Product design provides new product/service ideas  Logistics  An operations manager must coordinate the use of resources through the management activities of planning, organizing, directing, and controlling. o Chief role is that of a decision maker o Exerts influence over the degree to which the goals/objectives of the org. are met.  Model: abstraction of reality. A simplified representation of something. o Ignore unimportant details so that attention can be concentrated on the most important aspects of the situation, thus increasing the opportunity to understand a problem and its solution.  Pareto phenomenon: some things will be very important for achieving an objective and other things will not  Craft production: system in which highly skilled workers use simple, flexible tools to produce small quantities of customized goods o Slow and costly o Production costs do not decrease as volume increases  Industrial revolution made possible… o Division of labour: breaking up a production process into small tasks so that each worker performs a small portion of the overall job  Virtually no skill is required o Interchangeable parts: parts of a product made to such precision that they do not have to be custom fitted  Decrease in assembly time and cost  Scientific management o Based on observation, measurement, analysis, and improvement of work methods, and economic incentives. o Maximizes output o Moving assembly line o Mass production: systems in which lower skilled workers use specialized machinery to produce high volumes of standardized goods  Human re
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