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Unformatted text preview: Operations Management for Competitive Advantage 2011, Jacobs & Chase; Published by McGraw Hill Teach- ing Not es Chapter 1 – Operations & Supply Chain Management Teaching notes What is Operations Management? Operations management is defined as the design, operations and improvement of systems that create and deliver the firm’s primary products and services. Current Issues in Operations Management 1. Coordinating the relationships between mutually supportive but separate organizations 2. Optimizing global supplier, production and distribution networks 3. Increased co-production of goods and services 4. Managing customer touch points 5. Raising senior management awareness of operations as a significant competitive weapon Teaching Notes Chapter 2 –Strategy & Sustainability Teaching notes Operations Strategy Operations strategy is concerned with setting broad policies and plans for using the resources of the firm to best support its long-term competitive strategy. Ask – what was the Colt’s strategy Sunday? What does strategy mean? Ask – is the mission of a business to make money? Tell Ask – what are the Colt’s competencies? Tell about business Ask – what is the defensive strategy? Special teams? Tell – functional strategy Strategy Strategies are the mechanisms by which businesses coordinate their decisions regarding structural and infrastructural elements. Mission statement – a statement that explains why an organization exists. It describes what is important to the organization, called its core values, and identifies the organization’s domain. Business strategy – the strategy that identifies the firm’s targeted customers and sets time frames and performance objectives for the business. Core competencies – organizational strengths or abilities developed over a long period, that customers find valuable and competitors find difficult or even impossible to copy. Functional strategy translates a business strategy into specific actions for the functional areas such as marketing, human resources, and finance. Functional strategies should align with the overall business strategy and with each other. Tell Tell – give categories Ask – fill in the categories Operations & Supply Chain Strategies The operations and supply chain strategy is a functional strategy that indicates how structural and infrastructural elements within the operations and supply chain areas will be acquired and developed to support the overall business strategy. There are three primary objectives of an operations and supply chain strategy: 1. To help management choose the right mix of structural and infrastructural elements based on a clear understanding of the performance dimensions valued by customers and the trade-offs involved....
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- Three '12
- Management, Cycle Time, Learning curve, Capacity utilization