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Exam 1 Sheet - OM create goods and/or provide...

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OM - create goods and/or provide services. -their efficiency (cost) and effectiveness (quality) Basic Functions 1.Operations 2 Finance 3 Marketing Value Added = Inputs > Transform > Goods / Service Types of Operations = goods producing; storage, exchange, entertainment, communication Goods-service continuum -Goods and Services occur jointly -Increasing goods content inverse with Increasing Service content OE Interfaces:MIS,Purch,HR,Ind Eng,PR,Acc, Maint, Distr. Scope of OM 1.Designing decisions (capacity, location, equip) 2.Operating decisions Decision area- Forecasting | Product/ service design | Capacity | Process | Layout | Location | Quality | Inventor | Aggregate planning | JIT systems | Scheduling | Supply Chain Management Diff features of Oper Sys Degree of product standardization (standardized vs. customized) Type of process (quantity of output) Production of goods vs. services Product Process Matrix – from Low Volume/Standardization to High Volume/Standardization Unit Prod > Batch/Job Shop>Mass Prod> Cont Prod. Note Mass Prod in High Vol and Low Std Managers Functions Planning – capacity, product mix Organizing – centralization, specialization Controlling – inventory quality Directing-schedule work orders, ass Pareto Phenomenon -80% of problems are caused by 20% of the activities. Historical 1 Earliest – Craft production (no economies of scale), Mercantilism - Goods were produced in small shops by craftsmen and their apprentices 2 Industrial revolution – Interchangeable Parts (Eli Whitney, 1700) – Division of Labour (Adam Smith, 1776) - Breaking up a production process into small tasks – Scientific Management (Frederick Taylor, Frank and Lillian Gilbreth, Henry Gantt, Henry Ford) - Taylor believed in a “science of management” based on observation, measurement, analysis and improvement of work methods, and economic incentives. 3. Human relations Movement – Improve Productivity (Elton Mayo) – Motivational Theories (Abraham Maslow) – Employee Problem Solving (William Ouchi) 4 Decision Models and Computers – Management Science, EDI, ERP 5 Japanese Manufacturers – TQM revolution, lean production Trends in business 1. The Internet and E-Business
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