Operation Management: A Comprehensive Guide to Goods and Services Production, Study notes of Production and Operations Management

Download Operation Management: A Comprehensive Guide to Goods and Services Production and more Study notes Production and Operations Management in PDF only on Docsity! Opman TQM Book – OPERATION MANAGEMENT by STEVENSON, 2020 edition TOPICS: PRELIM: 1.Introduction to Operation Management 2. Competitiveness, Strategy and Productivity 3. Forecasting 4. Strategic Capacity Planning for Products and Services MIDTERM: 1. Design of Work Systems 2. Aggregate Planning 3. Materials Requirement Planning(MRP) FINAL: 1. PERT/CPM 2. Quality Control WITH REFERENCE TO GOODS PRODUCTION is the fabrication of a physical object through the use of labor, materials and equipments. WITH REFERENCE TO SERVICES PRODUCTION is the discharge of a function which has some utility. TOPIC – Quantity, Economy and Quality OPERATION MANAGEMENT is the management of that part of an organization that is responsible for producing goods and/or services. • It is also the management of systems or processes that create goods and/or provide services • The creation of goods or services involves transforming or converting inputs into outputs. ACTIVITIES: 1. Forecasting 2. Capacity Planning (cash flow and profit) 3. Scheduling 4. Managing Inventory 5. Assuring quality 6. Employee motivation 7. Location of facilities VALUE ADDED – the differences between the cost of inputs and the value or price of outputs. ROLE OF OPERATION MANAGER As planner and decision maker. Planner – strategies, competitions, control Decision maker – uses quantitative methods, analysis of trade-off (eg. Overtime: weigh the values of increased output against the higher cost of overtime) TRENDS - E-commerce - E-business /internet - BPO (outsourcing) - System Approach - Globalization - Ethical Behavior (bus. scandal/US Fin. Crisis) - Management of Supply Chains ½ crosswise sheet of paper Give an example of any businesses that that does not have operation management.