Mgt%203200%20-%2012%20Wrap%20%28post%29

Mgt%203200%20-%2012%20Wrap%20%28post%29 - ↑ quality...

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© Copyrighted 1 Objectives Wrap-1. Define OM Wrap-2. List and describe reasons why OM is important Wrap-3. Recognize trade-offs between OM resources and value Wrap-4. List and describe at least 3 OM trends and describe the impact of all trends on the practice of OM. Course Wrap-up OM definition OM and value Trends Resources and value trade-offs Definition
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© Copyrighted 2 Operations Management OM Manage resources to transform inputs into outputs to create value Resources equipment, machinery, facilities, inventory, employees Transform make product and/or service Inputs raw materials, components Outputs finished goods, components, services Value Cost, quality/dependability, features and style, service, personalization OM importance Core function Customer satisfaction Costs
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© Copyrighted 3 OM Resources and Value Trade-Offs Quality Mgt quality programs (e.g., TQM, Six Sigma, Lean)
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Unformatted text preview: ↑ quality programs ↑ costs, ↑ product/service quality , ↓ costs Outsourcing make vs. buy ↑ outsourcing ↓ costs , ↓ control Capacity outputs per inputs Underutilized capacity ↑ cost/unit , ↑ response time , ↑ flexibility Overutilized capacity ↓ cost/unit , ↑ quality problems , ↓ flexibility Inventory levels by SKU, location (PPL) ↑ inventory ↑ costs , ↓ costs , ↑ service levels ↓ inventory ↑ stockouts , ↓ costs , ↑ costs © Copyrighted 4 OM Trends ↑ Globalization +/- OM impacts ↑ Mass customization +/- OM impacts ↑ Sustainability/Ethics +/- OM impacts ↑ Lean, Quality programs + OM impacts...
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Mgt%203200%20-%2012%20Wrap%20%28post%29 - ↑ quality...

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