3rd part of Business Final Outline

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Business Core
BCOR 1015
Beth Cross

3 part of Business Final Outline Operations Management 1. The development and administration of the activites involved in transforming resources into goods and/or services 2. Taking raw materials and transforming them into g/s - take inputs -> transformation -> outputs -delivery services differs from manufactuaring goods in several ways that matter to operation Making a good Providing Service -tangible -intangible -uniform efficient processes - customized, less efficient -manufactured before purchase -perform after purchase -easier to measure -customer participates -harder to measure - What do Operations Managers concern themselves with? o What product or services? o Which processes? o How do we put it together? o How to optimize productivity, efficiency, cost savings o How to improve, control, and measure quality o Managers -> run an efficient operation, make most out of your resources o Important to get operations rights? o Provides competitive advantage o New strategies are needed - Quality: A major focus today and key measurement of success o Quality is a major focus and key measure of business success o Product quality- the degree to which a g/s or idea meets the demands and requirements of customers o Elimination of defects o Quality is free o Lack of quality cost more to fix it later - Dr. W. Edwards Deming’s 14 points 1. Create a constancy of purpose for improvement 2. Adopt the new philosophy of this new economic age, where quality is critical 3. Avoid massive inspection; require instead, statistical evidence of quality 4. Buy for quality along w/price, not only for the price tag 5. Continually hunt for areas to be improved, find problems 6. Institute modern methods of training on the job 7. Change methods of supervision from sheer numbers to quality (productivity will improve) 8. Drive out fear 9. Break down barriers between departments 10.Eliominate numerical goals, posters, and slogans 11.Eliminate work standards that prescribe numerical quotas 12.Eliminate barriers to pride in workmanship 13.Institute a vigorous program of education and retraining 14.Put everyone to work every day bringing about this transformation Quality Control o Total Quality Mangement (TQM) : o Everyone in organization understands importance of quality and understands role of quality, how they play a role in quality o Hyundai total quality management o Statistical Process control(SPC) : A system in which management collects and analyzes information about the production process to pinpoint quality problems in the production system o ISO 9000 …. And other industry-specific certfications o International, goes to companies and certifies process, give you a certification Supply Chain Management- the flow of information, materials, and services that start w/raw materials suppliers and continues through all stages of operations until the product or service reaches the customer o Suppliers o Raw material/ manufacturer o Untermediate product manufacturer o End product manufacturer o Customers o Distributors and wholesalers and retailers Suppliers -> manufacturer -> distributor -> retail -> customer Materials and product -> Value-added services->
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