FINAL STUDY GUIDE

FINAL STUDY GUIDE - Operations Strategy: Long-range plan...

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● Operations Strategy : Long-range plan for the operations function that specifies the design & use of resources to support the business strategy. Do environmental scanning and then figure out core competencies and decide on competitive priorities. Environmental scanning . Core competencies : Unique strengths of a business. Includes 1)workforce 2)facilities 3)Market understanding 4)financial know-how and 5)technology Competitive priorities : Capabilities that the operations function can develop in order to give a company a competitive advantage in its market: 1) Cost 2) Quality 3)Time 4)Flexibility Measuring productivity : Productivity: Measure of how efficiently an org converts inputs into outputs. Total Productivity: Productivity computed as all output to all organizational inputs Partial productivity: ratio of output to only one input Multifactor productivity: ratio of output to several, but not all, inputs Productivity in services : Trad prod mrs tend to focus on tangible prods, which makes evaluating service quality difficult. Prod gains in the service industry have been slower than the mfg. ind. ●Product design : The process of defining all of the product’s characteristics. Steps Breakeven analysis : used to compute amount of goods a comp would need to sell to cover all its costs. Tot Rev=Tot Cost Intermittent processes : Processes used to produce a variety of products w/different processing requirements in lower volumes. LOW volume HIGH customization Project : used to make one-at-a-time product exactly to customer specs. 100% custom (Job shop- tailor) Batch : Used to produce a small quantity of products in groups or batches based on customer orders or specs. (printing shop, bakeries, partly customized) Repetitive : Processes used to produce 1 or a few standardized products in high volume. HIGH volume LOW customization Line : Produce a large volume of a standardized product for mass production. (Assembly line- candy, cars, tv) Continuous : Operate continually to produce a very high volume of a fully standardized product. (oil refinery) Make to order : Produces products to customer specs after an order has been received. Assemble to order
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FINAL STUDY GUIDE - Operations Strategy: Long-range plan...

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