Operations Management (Dongli Zhang) PDF

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These lecture notes are from Week 7 of Ground Floor Lecture. The lecture was on Operations Management and given by Dongli Zhang....

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11/2/16 Operations Management (Dongli Zhang)  

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There must be a process/operation/system in place that does something; a process that produces the organization’s primary product or provides the organization’s primary service Operations Management: o Responsibility for supplying the product or service o Development and administration of the activities involved in transforming resources into goods and services o Operations managers make decisions regarding the operations function and its connection with other functions First step in creating a new business/operation --> Product design (consumer driven) Globalization is beneficial Innovation satisfies customers and thus benefits company Process of transforming inputs into outputs o Type of technology and equipment o Process flow, layout of facility Bottleneck: sector that slows down process Capacity: o Decisions on the maximum level of output (G&S) that can be produced by the organization Inventory: Decisions regarding inventory: o Quality of finished goods o Reorder point to refill inventory o Management effort on different inventory items o WIP - Work in Progress inventory o Purchasing, raw material inventory...