Operations+I

Operations+I - Operations Management Professor J. Robb...

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Fusing the ART, SCIENCE , and TECHNOLOGY of Business. Operations Management Professor J. Robb Dixon Based on a lecture by Professor Peter Arnold and Friends
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Fusing the ART, SCIENCE , and TECHNOLOGY of Business. Good Stuff Cheap Effectiveness The extent to which customers are satisfied sufficiently to remain customers. Efficiency The extent to which products and services are delivered at low cost. Products and Services Operations
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Fusing the ART, SCIENCE , and TECHNOLOGY of Business. Why Study Operations? Or today’s agenda How to add value How to satisfy customers How to improve processes How to compete effectively How to manage the differences between services and manufacturing
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Fusing the ART, SCIENCE , and TECHNOLOGY of Business. Operations and Competition 1.Price - Which company sets the price in the market place? The company with the lowest costs drives the pricing issue. 2.Quality: Materials + Workmanship + Design = Perception 3.Flexibility - Henry Ford was once asked what colors the Model T would be available in. Ford’s famous response was “They [customers] can have any color they want as long as its black.” Ultimately that was Ford’s undoing, and today’s marketplace is no different. A. Product Differentiation through features B. Time - How soon can it be delivered? How reliable is the delivery? Fedex was originally designed to deliver time sensitive documents. Now what? What about eCommerce? 4.Service - How well can customers have needs satisfied? How easy can product use be made?
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Fusing the ART, SCIENCE , and TECHNOLOGY of Business. Operations Strategy – What will we do well? Order Qualifiers - What characteristics make a product or service a candidate for purchase? Order Winners - What is the difference between choices that results in one being selected over the others? Are order winners the same for all market segments? Distinctive Competencies - What a firm does well in order to achieve and maintain a competitive advantage. Do all firms in an industry do the same things well? Why not?
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Fusing the ART, SCIENCE , and TECHNOLOGY of Business. Operations Management The Value Chain Perspective Organizations Add Value by: Harvesting Raw Materials Producing Basic Materials Fabricating Parts Assembling Products Distributing Products Selling Products to Customers Providing After-Sales Service Reclaiming Materials Through Recycling Some firms perform several of the activities – those firms are vertically integrated.
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Fusing the ART, SCIENCE , and TECHNOLOGY of Business.
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This note was uploaded on 05/06/2009 for the course SMG SM 299 taught by Professor Dixon during the Spring '08 term at BU.

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Operations+I - Operations Management Professor J. Robb...

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