MGSC 395 Week 1 notes
MGSC 395 Week 1 notes MGSC 395
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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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