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Chapter 1 Operations Management Trends Issues Operations...

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Chapter 1 Operations Management: Trends & Issues
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Operations Management An operations system is defined as one in which several activities are performed to transform a set of inputs into useful output using a transformation process Operations Management is a systematic approach to address all the issues pertaining to the transformation process that converts some inputs into output that are useful, and could fetch revenue to the operations system
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Operations Management (OM) Salient Aspects OM is a systematic approach using scientific tools & techniques and solution methodologies to analyze problems OM is about addressing several issues Downtime,demand surge, Transformation processes are central to Operations Focusing on keeping costs to the minimum Developing a set of measures to assess performance of the system
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Video Insight 1.1 Operations Management Issues in a Healthcare System http:// www.youtube.com/watch?v=Or9dvnuST-g
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Corporate Sector of the Indian Economy Salient Aspects All number in the table represent growth % over the previous year Data compiled from Economic Outlook of Centre for Monitoring Indian Economy (CMIE) using data available at http://economicoutlook.cmie.com Index of Industrial Production 2009-10 2010-11 2011-12 2012-13 Manufacturing 4.84 8.95 3.00 1.29 Capital goods 0.99 14.75 -3.97 -6.04 Consumer goods 7.65 8.57 4.37 2.43 Intermediate goods 6.03 7.39 -0.62 1.60 Corporate Sector Performance Manufacturing Sector Sales 5.0 20.7 19.3 9.3 Operating Expenses 4.8 22.3 19.6 10.1 RM Expenses 6.9 25.1 21.5 8.3 Compensation to Employees 10.9 15.0 9.1 12.7 Profit After Tax (PAT) 43.1 15.4 18.4 -4.6 No. of Companies 8751 8320 5690 3978 Non-financial Services Sector Sales 8.3 15.7 13.6 2.7 Operating Expenses 6.1 17.7 15.3 1.3 Compensation to Employees 5.3 15.0 14.3 14.1 Profit After Tax (PAT) 15.3 -28.0 -54.5 -7.7 No. of Companies 6137 6125 4328 3065
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The Service – Product Continuum Materials, Assets, Products… Services, People, Interactions… Passenger Cars, Machine Tools Professional Consulting, Legal Services Health Care System (Hospitals) Restaurants, Fitness Centres Logistics, Tourism, Travel and Entertainment Sectors Facilities Maintenance, Turnkey Project Execution … Product Domination Service Domination
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