Sunday, December 22, 2019
Key Concepts Of Operations Management Essay - 1573 Words
The purpose of this assignment is to discuss and evaluate various key concepts of operations management and how each, when implemented within an organisation, can be beneficial and contribute to the improvement of its operational efficiency. (Hill, A. and Hill, T. 2011) describe operations management as being core to what organisations do, it is the process of transforming inputs which include information, people and materials into outputs such as services or products. (Slack, N, et al. 2013) states that every organisation has to have an operations function because every organisation creates in some form a service and/or a product. This in turn must mean that every organisation, in order to increase its profitability must strive towards improving the efficiency of its operations function. The key concepts that will be explored throughout this assignment are; Just in Time (JIT), Inventory Management and Supply Chain Management. Just in Time (JIT) is an inventory strategy of planning and control used by organisations with the aim to meet demands of consumers instantaneously with perfect quality and to limit waste (Mà ¨uller, M. 2011). In order for this method to work it is essential that the manufacturer is able to accurately forecast what the demand for their product will be. Being able to do so allows the organisation to request stock from their supplier/s as and when they are needed during the production process and not before. This means they are able to operate with a lowShow MoreRelatedOperations Management : An Organization Essay1107 Words à |à 5 PagesOperations Management Operations management is a field that can, at times, be misunderstood because of its multidisciplinary nature. However, its functions form the lynchpin of businesses the world over and success can often rest squarely on its shoulders. http://www.topmba.com/mba-programs/what-operations-management When people began to produce goods and service, the operations management was born. History of Operations management 1. Adam Smith (1776) The world have observed that Adam Smith isRead MoreGlobal Supply Chain Management And Its Application Within The Business Sector1438 Words à |à 6 Pages ââ¬Æ' Introduction/Forward This term paper focus on my experience and the knowledge gain during the fall 2016 semesters. The paper discusses the general topic on Global supply chain management and its application within the business sector. In addition, to the general topic discussed, I would also focus on the some of my experience doing the class and how those experience and knowledge gained can help me in the future. In my further reflection of the paperRead MoreConcept Design Services864 Words à |à 4 PagesCase 1 - Design house Partnerships at concept design services Case summary The case is all about CDS (Concept Design services) , earlier they were in to business to consumer business by d product name of ââ¬Å"Focusâ⬠now they have moved from business to consumer to business to business format. They have tied up with many design house and they give them the design which they manufacture and then distribute to the customer. They also moved from manufacturing focus products to high ââ¬â quality stylishRead MoreFactors affecting women entrepreneurs success1224 Words à |à 5 Pages1-1 Introduction to Operations Management Operations Management William J. Stevenson 1-2 Introduction to Operations Management Operations Management Figure 1.1 The management of systems or processes that create goods and/or provide services Organization Finance Operations Marketing 1-3 Introduction to Operations Management What Do Operations Managers Do? â⬠¢Ã¢â¬ ¯ What is ââ¬ËOperationsââ¬â¢? â⬠¢Ã¢â¬ ¯ â⬠¢Ã¢â¬ ¯ a function or system that transforms inputs into outputsRead MoreMarket Based Management: Its Application Today Essay1577 Words à |à 7 PagesRunning head: MARKET-BASED MANAGEMENT Market Based Management: Itââ¬â¢s Application in Business Today Lindsey Nelson Nova Southeastern University Market-Based Management: Itââ¬â¢s Application in Business Today Introduction Past management styles or practices have been mostly authoritarian or managed from the top down. There was little regard or consideration for the input of labor, supervisors or middle management. Their opinions and experience was only asked for in times of crisisRead MoreLean Six Sigma And The Effects On Operations And Technology Strategy1484 Words à |à 6 PagesProcess Analysis on Lean Six Sigma and The Effects on Operations and Technology Strategy Lauren M. Nanney East Tennessee State University Abstract Do not indent/ need to add headings/subheadings, etc Process Analysis on Lean Six Sigma and The Effects on Operations and Technology Strategy Over the course of the past three decades, American industrial organizations have sought a wide variety of management programs in hopes to improve their competitiveness. TheRead MoreCase Study : The Queens Head Hotel1633 Words à |à 7 Pagesbusiness unique. The hotelââ¬â¢s restaurant concept was changed from Stirrups Brasserie to Giuseppeââ¬â¢s, an Italian themed restaurant. The youngest son of the Giles-Gash had the idea of the new concept, so for the last year he managed the business. In case of success, he would manage all the hotelsââ¬â¢ restaurants of the family. To check the position of the restaurant and its performance, the owners asked for a review. The only way a concept of a food and beverage operation can be successful is only if the guestsRead MoreCrm and Scm Essay659 Words à |à 3 PagesCRM and SCM are both different management concepts: one focusing on concepts used by companies to manage relationship with their customers while the other focuses on planning, implementing and controlling the operations of supply chain. Both the concepts are similar in the way that they can be used to improve organizations functionality in the respective departments. Both management tools can be integrated with the ERP software. Both CRM and SCM can offer benefits in terms of lower costs, higherRead MoreMurphy Case Analysis.1226 Words à |à 5 PagesJust-In-Time Concept. Just-In-time manufacturing, or JIT, is a management philosophy aimed at eliminating manufacturing wastes by producing only the right amount and combination of parts at the right place at the right time. This is based on the fact that wastes result from any activity that adds cost without adding value to the product. The goal of JIT, is to minimize the presence of non-value-adding operations and non-moving inventories in the production line. This will result in shorter throughputRead MoreFood and Beverage Service Standard1469 Words à |à 6 Pages | INTERNATIONAL COLLEGE OF HOTEL MANAGEMENT | | TRANG NGUYEN 000884493Mr. RICHARD HUNTER 16/08/12 | [BBHM102: Food and Beverage Service Standards] | Assessment 1: Service Quality Standards | Table of Contents Introduction: 3 Body: 4 Conclusion 6 REFERENCES: 7 Executive Summary The reportââ¬â¢s aim is designed to examine the five fundamental concepts of food and beverage service quality standards for a commercial hospitality operation and hence recommendations can be review to enhance
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.