operations and logistics management applied management science for decision making, 2e © 2014...
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OPERATIONS and LOGISTICS MANAGEMENT
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Philip A. Vaccaro , PhD
Introduction & Importance
Scope & Trends
Careers & Course Overview
Operations Management
The competent and adept management
of complex systems in the service, non-
profit, manufacturing, and government
sectors via the effective and efficient
utilization of time, labor, money, and
materials in the generation of goods
and/or services.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-2
DEFINITION
Overview
Operations Management plans for, and creates thecompetitive advantages that all businesses need for fueling profitable growth. As a result, OM is
the most critical of the business functions.Studying OM means studying modern planning, decision-making and management methods in all
functional areas of an organization, including strategic and tactical planning, products and services
development, product and project management, process and supply chain management, and more.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-3
Why Study OM?
All firms market (sell) ,
finance (account), and produce (operate)
I. Operations Management is one of the three major functions of any organization……and they are integrally related.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-4
MARKETING
THESTRATEGI
CTRIAD
FINANCEOPERATIONS
Why Study OM?
II. Operations Management shows us how goods and services are generated. Consequently, it is the………
foundation of all business !
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-5
Why Study OM?
III. Operations Management shows us what OM managers do. This enables us to learn the skills, techniques, and models needed to practice 21st century management, and to also explore the lucrative career oppor- tunities in OM.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-6
Why Study OM?
Manufacturing activity Warehousing Distribution Inventory Control Research and Development
Maintenance Facilities and Equipment Worker training Cost and Quality Control Planning and Scheduling
IV. Operations Management represents as much as 70% of the operating budget of most firms due to:
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-7
Why Study OM?
V. Operations Management, by virtue of its huge collective budget, provides a major opportunity for the firm to improve its profitability.
In fact, OM has become the last resort for most firms that have exhausted the potential of marketing, finance, and general management.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-8
Why Study OM?
VI. About 40% of all jobs in the United States are in Operations Management.
Exposure to the following disciplines will enhance one’s job prospects:
Operations research Statistics Information systems Economics Logistics / Transportation
Mathematics Accounting / Finance Computer science Engineering Manufacturing
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-9
What OM Managers Do
Supervise skilled trade workers & technicians.
Manage the production and technical operations.
Integrate new technology into manufacturing and service processes.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-10
What OM Managers Do
Develop, monitor, and update measures of efficiency.
Develop, monitor, and change operating plans and schedules.
Control costs and quality.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-11
What OM Managers Do
Evaluate and improve the existing operating system in terms of productivity and customer responsiveness.
Translate improved operating systems into competitive ad- vantage in the marketplace.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-12
OM Necessary Skills
Keen understanding of people and processes. Ability to solve problems in multi-disciplinary teams. Strong leadership/coordinating ability. Strong analytical and problem-solving skills. Strong interpersonal communication skills. Strong background in mathematics. Strong background in computer programming. Proficiency in one or more foreign languages. Graduate degree in the field or a related field.
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-13
Exciting New Trends in OM
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-14
Global Focusand
Just-in-TimeShipments
Low cost, reliable global communication networks
Cost of capital putting pressure on reducing inventories
Low cost, reliable global transportation networks
Exciting New Trends in OM
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-15
Supply Chain
Partners
Rapid ProductDevelopment
Quality emphasis requires supplier engagement in product improvement
Shorter production cycles and computer-aided design
International collaboration and rapid communication
Exciting New Trends in OM
Applied Management Science for Decision Making, 2e © 2014 Pearson Learning Solutions Chapter 1-16
Mass Customizatio
nEmpowered Employees
Lean Production
Affluence and world-wide markets
Increasingly flexible production processes
Increasingly knowledge and information-based society
Career Possibilities
Business Executive Blue-Collar Supervisor Construction Manager Production Manager Operations Manager Information System Manager Materials Manager Project Manager Customer Service Mgr Defense Analyst
Purchasing Agent Inventory Analyst Cost Estimator Systems Analyst Industrial Engineer Quality Control Mgr Time & Motion Analyst Operations Scheduler Operations Planner Process Improvement Manager
Career Possibilities
In corporations, OM managers are responsible for developing new products and services, the strategic and tactical plans, and the execution of those plans
Demand for OM managers is particularly high in financial services, IT, manufacturing, non-profit, government, education, and health care
Entrepreneurs will find OM knowledge pivotal • Advancement opportunities are superior in almost
all industries, and commonly lead to senior leadership positions
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