TOM cheat sheet - *;firmsperformValue *MarketStrategy(Who)ValueDiscipline(What ,customerintimacy,Product (How)cost,quality

TOM cheat sheet - *;firmsperformValue...

  • Babson College
  • SME 2002
  • Test Prep
  • victorpa22
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**An operation is process thinking; firms perform “Value  Added Transformation Processes”. **Market Strategy (Who) -  Value Discipline (What)   Operational Excellence, customer intimacy, Product  leadership – Operational Capabilities (How?)   cost, quality, speed, flexibility, innovation. **Customer satisfaction is based on customer expectations  and satisfaction. It is also based on “Value”.  Value is based  on quality and price. Quality is perception of performance  defined by the customer. **Quality Impacts Customer Experience: Reputation,  Performance, reliability, Tangibles, Responsiveness,  Empathy **A successful operation strategy depends on the right  capabilities.  Establish capabilities to compete on the basis  of: Cost, Quality, Time, Flexibility, Innovation ** What is a process: a way of getting things done.  What is  process selection: the set of strategic choices that determine  how the transformation is achieved. ** Process Fundamentals: Process, Process flowcharts, Basic Process analysis, Process selection and layout, Process  Improvement, Process Technologies. ** Process Types: Job shop  low volume, high variety  products, Batch  Small/medium batches of products, one  dominant flow, Line Flow  med./high volume, limited  variety, assembly flow, Continuous Flow  high volume,  single product automated, rigid flow. ** Why Analyze a Process: It’s difficult to improve what  you can’t measure, you can’t track improvement without  measure, demonstrating constraints and capabilities. **The  Big 5 Process Measures: Capacity, Capacity  Utilization, Cycle Time, Throughput Time, Lead Time. **Capacity: output per unit of time: Laser printers (5 pages  per minute), Ford Plant (2 cars per week), Logan airport  (1000 planes per month) ** Task Time: time required at a particular task to complete  the activities.  Throughput Time: amount of time a unit  spends in the process, including time at each stage + 
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