OTM 300 Lecture 3: Operations Management (1/21)

• School: UW-Madison
• Department: Operations and Technology Management
• Course: OTM 300
• Professor: Allison Briggs

Document Summary

Suppliers -> inputs (material information) -> transformation process -> outputs (goods/services) -> customers. Able to take inputs and turn them into outputs that customer values. Not the mission, the plan that enables the company to achieve the mission. About being different, choosing a different set of activities to deliver a unique mix of values. Mid long term strategy of the company. Have a completely different business strategy for motorbikes than for instruments. A fully consistent set of manufacturing policies resulting in a congruent system is highly rare. Traditionally, emphasis has been placed on cost and productivity. Business used to be run by the operational engine, but the inputs did not align with the market. Must find an equilibrium between operations and strategy. Not just how can we increase productivity. Changing must faster than in the past. How long does it take to get it. The minimum selection criterion that permits products or service to be even considered by potential customers.