Operations Management BUS 370
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This 3 page Study Guide was uploaded by Bethel Graham on Thursday October 15, 2015. The Study Guide belongs to BUS 370 at North Carolina State University taught by P. Morrissett in Fall. Since its upload, it has received 83 views. For similar materials see /class/223668/bus-370-north-carolina-state-university in Business Management at North Carolina State University.
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Date Created: 10/15/15
BUS 370 Study Guide What is operation management Management of direct resources that are required to provide an organization with goods and services converting inputs into outputs Goods vs services Goods are tangible no customer interaction inventories Services are intangible direct customer interaction cannot be inventoried 3 decisions of op mgt 1 Strategic long range 2 Tactical medium range 3 operational planning and control short range Strategic how will we make the product Where do we locate the facility Tactical how many workers do we need When do we need them When should we have a nished goods inventory Operations planning control what jobs do we do this weeldtoday Who do we assign what tasks Transformation process daytoday activities within op mgt that focus on adding value for the organization Inputs 9 adjusted 9 transformation process 9 measured 9 outputs CONVERSION OF INPUTS INTO OUTPUTS Scientific Management 7 Frederick Taylor Hawthome Effect 7 Elton mayo and Harvard business school researched the effects of certain environmental changes on the output of assemble workers at Hawthome plant Changing things didn t affect output as much as researchers predicted KEY ISSUES eXibilityresponsiveness integrating new technologies high quality and cost control customersupplier relationships train and keep key employees global landscapeeconomyvillage 7 terms used to describe how the world is getting smaller and countries are dependent on each other OM s contributions 1 higher standard of living a increasing productivity lower cost goods and services 2 better quality goods and services a standards are increasing with no consequence to cost 3 concern for the environment a producing envir friendly products 4 improved working conditions a better workers better productivity b encourages better operations through suggestions c satis ed workers satis ed customers Value chain 7 steps an organization requires to produce a goodservice regardless of where they are performed Virtual enterprise 7 company whose boundaries are not clearly de ned due to the integration of customers and suppliers CHAPTER 2 Corporate strategy 7 overall strategy adopted by corporation the way in which resources are acquired and allocated among their branches Strategic business unit SBU 7 standalone businesses in a corporation that act like a separate unit Business strategy 7 how a SBU addresses their market it serves and products they provide how each SBU differentiates itself from its competition Types of biz strategies low cost producing the lowest cost products market segmentation satisfying the needs of a particular market product differentiation offering products that differ from competition operations strategy how a company achieves competitive advantage in the marketplace functional strategy strategies developed within the organization to support a biz strategy COMPETITIVE PRIORITIES Effective operations strategies create or add value for customers 1 2 5 Cost be the lowcost producer quality product and process quality establishing proper level of quality and errorfree delivery speed and reliability of delivery very important in purchasing decision exibility wide variety of products mass customization how fast a company changes its production facilities to produce a new line of products order quali ers minimum elements that a firmproducts must have in order to be considered as a potential supplier for the customer order winner competitive priorities by which product selection is made service firm is more dependent on operations capabilities than a manufacturing goods firm Customer Activity Cycle pre purchase 1 a Responsive to customer s 2 purchase a b center around sale and delivery of goodservice collecting payment 3 post purchase a aftersales support and warranties downstream services Market for product related services is much bigger than it is for the product 0 O 0 Embedded services 7 functions part of the product Comprehensive services 7 manufactured product married to add l services Integrated solutions 7 combining product and services into a offering that address a specific customer requirement Distribution control 7 manuf firm goes downstream to assume responsibility for product distribution
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