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MGT2070 - Ch. 1&2.docx

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MGT 2070
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 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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