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MGSC 395 Week 1 notes

by: Rachel Whitbeck

MGSC 395 Week 1 notes MGSC 395

Rachel Whitbeck
GPA 4.0
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About this Document

These notes cover everything we talked about for the past two weeks, from the first day of class on January 11th to the 20th. Pearse does post his powerpoints online, so these notes contain what's ...
Operations Management
Pearse Gaffney
Class Notes
Management Science, Operations Management




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This 4 page Class Notes was uploaded by Rachel Whitbeck on Thursday January 21, 2016. The Class Notes belongs to MGSC 395 at University of South Carolina taught by Pearse Gaffney in Spring 2016. Since its upload, it has received 99 views. For similar materials see Operations Management in Business, management at University of South Carolina.

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Date Created: 01/21/16
MGSC 395 MW 5:30 Section 301 Monday, January 11, 2016  Manager: o Plans o Organizes o Staf o Lead o Control  Operations manager o Manages inputs and outputs o “the systematic design, direction, and control of processes that transform inputs into services and products for internal…”  Definitions to know and know the diference o Inputs o Process o Operation o Diference between:  Goods  Services o Internal customer o External customer  Most important question to an operations manager: Are we winning or losing  Measuring performance o Productivity = outputs ÷ inputs o Multifactor productivity = value of output ÷ total cost  Talking about math o Biggest mistake: 16 miles per hour ÷ 32 kilometers per hour Wednesday, January 13, 2016  What to do if you’re winning o Figure out why you’re winning and keep doing the same thing o Don’t slip  What to do if you’re losing o Obviously figure out why you’re losing o Take action  Focus on strategy (simply a plan)  Corporate strategy is “what” and operations strategy is “how” o C-sweet: anyone with “chief” in the title.  Customer Driven Operations Strategy o Think about customer when making decisions o All about customer service. “Hassle free” o Dimensions of operations strategy:  4 competitive capabilities  Cost o Low cost operations- ex Costco  Quality o Top quality- ex. Ferrari o Consistent quality- ex. McDonalds  Time o Delivery speed- ex. Deli o On-time delivery- ex. United Parcel Delivery o Development speed- ex. Li and Fung  Flexibility o Customization- ex. Ritz Carlton o Variety- ex. Amazon o Volume flexibility- ex. United States Postal Service  Breakeven Analysis o Determining the volume of sales you need in order to break-even (neither profit nor a loss) o Calculating the breakeven quantity  Set total revenue equal to total cost and solve for Q  Total revenue = total cost  pQ = F + cQ  pQ – cQ = F  (p – c)Q = F  End of Chapter one and supplement A Wednesday, January 20, 2016  Some shorthand o RMTFG= raw material to finished goods o OTC= order to cash o CTL= concept to launch  Process strategy= the set of decisions to achieve competitive capabilities and priorities o 4 key decisions (example is Jake’s bar in Five Points vs Fancy Restaurant)  Customer involvement (how much?)  Jake’s: doesn’t really care. Customers will graduate and leave the city soon anyway  Fancy restaurant: really cares and checks for feedback  Process structure (physical layout)  Simple plywood bar, patio area with another bar, bouncers, pool tables, beer and liquor  Fancy restaurant: wait staf, hostess, clean, seats, many drink options, full kitchen  Resource flexibility (Who? How?)  Jakes: If bar tender doesn’t show up, bouncer can fill in. Anyone really can.  At Fancy Restaurant, much more training is needed for each position  Capital intensity (money)  Jake’s is cheap  Fancy Restaurant is expensive and costs more to open o In a manufacturing setting  Need to understand  Volume- for shipping purposes, satisfy customers, inventory  Customization-  Process characteristic  Volume and Customization levels  Low volume and highly customized= job o One customized t-shirt  Moderate volume and somewhat repetitive= batch o 250 of the same customized t-shirt  Higher volume and highly repetitive= line o Henry Ford invented the assembly line  Very high volume and continuous flow = continuous flow o Factories in China o Inventory  3 primary approaches  Make to order- “job”  Assemble to order o Dell was the first guy to spend the customers’ money to buy inventory and then ship the computer  Made to stock o Publix puts stock on a shelf and waits for the customer to buy it o Disadvantage and risk is having leftover inventory


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