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OPMA Chapter 2 Notes

by: Sarah Quinn

OPMA Chapter 2 Notes OPMA 3306

Sarah Quinn
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About this Document

These notes cover chapter 2 of the textbook and the lectures in class.
Operations Management
Dr. Michel E. Whittenberg
Class Notes
Operations Management




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This 2 page Class Notes was uploaded by Sarah Quinn on Thursday January 28, 2016. The Class Notes belongs to OPMA 3306 at University of Texas at Arlington taught by Dr. Michel E. Whittenberg in Spring 2016. Since its upload, it has received 129 views. For similar materials see Operations Management in Business, management at University of Texas at Arlington.

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Date Created: 01/28/16
Opma is management of orgs productive resources or its production system. Prod system is  process that converts inputs into finished goods and services. Conversion process is predominant  activity of prod system. Primary function of  Op manager is activities of the conversion process.  Involves product design, purchasing, manufacturing, service operations, logistics, distribution.  Process activities: planning, sourcing, making, delivering, and returning. Efficiency,  effectiveness, and values. Don't study ratios. Operations is heart of every org. Corporate business strategy talks about competitive advantage and defines core competencies. How it will create and sustain value for current share/stakeholders. Evaluate social, economic, and environment aspects  of firm. CBS provides direction and operational goals with those of the larger org. Operation  strategy sets broad policies and plan for using resources. Operations effectiveness measures  effectiveness of ops. Develop/refine strategy yearly and translate quarterly. Always trade­offs in  competitive priorities. Straddling is risky. Decision making has strategic, operating, and control  decisions. Strategies mostly tied to life­cycle of products. Business strategy categories are first­ to­market strategy, second­to­market strategy, cost minimization or late­to­market strategy,  market segmentation strategy. Core capabilities are org practices and business processes. Core  competencies is knowledge and skills has that distinguish it from competitors. Know difference  between two. Outsourcing subcontracts out production or performance. Things not strategically  important or core capabilities should be outsourced. "Hollowed out" company outsources too  much. Order qualifiers are features customers won't forego. Order winners are things that sets  company apart from others. Order qualifiers and winners: low­cost, top quality, consistent  quality, delivery speed, on­time delivery, development speed, customization, variety, volume  flexibility. Productivity=output/input. Relative measure. Partial compares to one, multifactor  compares to many.  Chapter 2: Strategy and Sustainability Clif Bars 5 Aspirations: sustain our planet, community, people, business, and brands. A Sustainable Operations and Supply Chain Strategy Sustainability: the ability to meet current resource needs without compromising the ability of  future generations to meet their needs. Shareholders own stock in company. Stakeholders are  influenced by firm. Triple bottom line: evaluating the firm against social, economic, and  environmental criteria. Economic prosperity, environmental stewardship, and social  responsibility.  What is Operating and Supply Chain Strategy? Operations and supply chain strategy: the setting of board policies and plans that will guide the  use of the resources needed by the firm to implement its corporate strategy. OSCS. Operations  effectiveness: performing activities in a manner that best implements strategic priorities at  minimum cost. Part of planning process. Develop/ refine strategy (yearly), translate strategy to  operations and supply chain initiatives (quarterly).  Competitive Dimensions Cost or price, quality, delivery speed, delivery reliability, coping with changes in demand,  flexibility and new­product introduction speed, other product­specific criteria (technical liaison  and support, meeting a launch date, supplier after­sale support, environmental impact, other  dimensions). Notion of Trade­Offs­ When activities are incompatible so that more of one thing  necessitates less of another. Straddling: when a firm seeks to match what a competitor is doing  by adding new features, services, or technologies to existing activities. This often creates  problems if trade­offs need to be made.  Order Winners and Order Qualifiers: The Marketing­Operations Link Order winner: specific marketing­oriented dimension that clearly differentiates a product from  competing products. Order qualifier: a dimension used to screen a product or service as a  candidate for purchase.  Strategies are Implemented Using Operations and Supply Chain Activities Activity­system maps: diagrams that show how a company's strategy is delivered through a set  of supporting activities.  Assessing the Risk Associated with Operations and Supply Chain Strategies Supply chain risk: the likelihood of a disruption that would impact the ability of a company to  continuously supply products or services. 2 dimensions: supply chain coordination risks with  day­to­day management, and disruption risks like disasters natural or man­made. Risk  Management Framework­ Identify sources of potential disruption, assess potential impact of the  risk, develop plans to mitigate the risk. Productivity Measurement Productivity=outputs/inputs. Relative measure. Partial productivity measure is ratio of some  output to a single input. Multifactor productivity measure is ratio of some output to a group (but  not all) inputs. Total factor measure of productivity: ratio of all outputs to all inputs.


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