BIT Final Exam Review

BIT Final Exam - BI T Final Exam Review I ntroduction to Operations What is operations management • The design operation and improvement of

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Unformatted text preview: BI T Final Exam Review I ntroduction to Operations What is operations management? • The design, operation and improvement of productive systems • Operations: provides goods and services • Financial: money aspects • Marketing: creates demand • Human resources: hire and train people T ransformation Processes • Physical: manufacturing • Locational: FedEx, storage • Exchange: retail • Physiological: health care, trainer • Psychological: entertainment • Informational: communications, education I ndustrial Revolution • Britain led the way • Property rights (patents) • Stable government • Free market approach • Permits people to gain wealth • Started mid to late 1700 • Availability of: o Steam engine power 1769 James Watt Used power for jobs o Coal and iron 1700s Needed for fuel Iron can be processed • Production concepts: o “Wealth of Nations” 1776 Adam Smith Against gov’t regulated markets Division of labor: assigned different worker to each task o Interchangeable parts 1790 Eli Whitney Parts for muskets Made them standardized Scientific Management • Principles of scientific management o 1909 Fredrick W. Taylor Financial incentives Rest breaks • Time and motion study o 1911 Frank & Lillian Gilbreth Efficiency experts 12 kids Motion studies • Assembly line o 1913 Henry Ford Keep car in place and let it be worked on Soldiering: deliberately working slow Rate buster: working faster Human Relations • Hawthorne studies o 1930 Elton Mayo o How motion affects work o Improves how workers are treated • Motion theories o How motivation affects workers and what motivates them Management Science • Post WWII: math and science applied to decision making • Linear programming o 1947 George Dantzig o Simplex method • Simulation, PERT/CPM, o 1950s o Research groups • Waiting Line theory, MRP, etc. o 1960s Decline in US Manufacturing • US manufacturers did not compete well with higher quality products from other countries o 1970s and 80s o Japan had higher quality products • Why? o US maintained a traditional “Mass Production” approach o Produce a whole lot of things very efficiently o Operations were turned over to technical people o Most people were focused on short term financial goals • Japan o Lean production: key focus is quality and flexibility o Long term strategic goals Quality Revolution • US companies attempted strategies to regain a competitive stance • Learning from: o Just-in-Time (JIT) o 1970s Taiichi Ohno, Toyota • Total Quality Management o 1980s W. Edwards Deming o Joseph Juran • Reengineering o 1990s o Completely redoing the whole company Globalization • emergence of a new global economy • companies compete worldwide for: market access production resources o 14 major trade agreements in the 1990s NAFTA World Trade Organization • 153 member countries • Established trade rules...
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This note was uploaded on 09/28/2009 for the course BIT 3414 taught by Professor Clark during the Spring '08 term at Virginia Tech.

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BIT Final Exam - BI T Final Exam Review I ntroduction to Operations What is operations management • The design operation and improvement of

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