1. Define the term operations management
Operation management is the management of systems or processes that convert or transform resources (including human resources) into goods and services. Operations management is responsible for managing the core processes used to manufacture goods and produce service.
2. Explain operations management’s role in business
Scope of operation management ranges across the organisation and includes many interrelated activities, such as:
• Forecasting
• Capacity planning
• Scheduling
• Managing inventory
• Assuring quality
• Motivating and training employees
• Locating facilities
Reviewing the activities performed in an airline company makes it easy to understand how a service organization’s operation management team adds value. The company consists of the aeroplans, airport and maintenance facilities.
3. Describe the correlation between operations management and information technology
Managers can use information technology (IT) to heavily influence operation management (OM) decisions including production, costs, flexibility, quality and customer satisfaction. One of the greatest benefits of IT on OM is in making operational decisions because OM experts considerable influence over the degree to which the goals and objectives of the organisations are realised. Most OM decisions involve many possible alternatives that can have verifying impacts on revenues and expenses. OM decisions, including :
What: What resources will be needed and in what amounts?
When: When should the work be scheduled?
Where: Where will the work be performed?
How: How will the work be done?
Who: Who will perform the work?
4. Explain supply chain management and its role in a business
A supply chain is a network of organizations and facilities that transforms raw materials into products delivered to customers. Customers order from retailers, who in turn order from distributors, who in turn order from manufacturers, who in turn order from suppliers. The supply chain also includes transportation companies, warehouses, and inventories and some means for transmitting messages and information among the organizations involved.
5. List and describe the five components of a typical supply chain
Plan – this is the strategic portion of supply chain management. A company must have a plan for managing all the resources that go toward meeting customer demand for products or services. A big piece of planning is developing a set of materials to monitor the supply chain so that it is efficient, costs less, and delivers high quality and value to customer.
Source – companies must carefully choose reliable suppliers that will deliver goods and services required for making products. Companies must also develop a set of pricing, delivery, and payment progresses with suppliers and create metrics for monitoring and improving the relationships.
Make – this is the step where companies manufacture their products or service. This can include scheduling the activities necessary for production, testing, packing, and preparing for delivery. This is by far the most metrics – intensive portion of the supply chain, measuring quality levels, and production output and worker productivity.
Deliver – this step is commonly referred to as logistic. Logistic is the set of process that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers. During this step, companies must be able to receive orders from customers, fulfil the orders via a network of warehouse, pick transportation companies to deliver the products, and implement a billing and invoicing system to facilitate payments.
Return – this is typically the most problematic step in the supply chain. Companies must create a network for receiving detective and excess products and support customers who have problem with delivered products.
6. Define the relationship between information technology and the supply chain.
As companies evolve into extended organisations, the roles of supply chain participants are changing.
Technology advances in the five supply chain management (SRM) components have significantly improved companies’ forecasting and business operations
Integrated Systems provide companies with greater visibility over the supply chain inventory levels
IT’s primary role is to create integrations or tight process and information linkages between functions within an organization.
Related videos could be viewed at:
www.youtube.com/results?search_query=Operations+Management+and+Supply+Chain&aq=f
Operation management is the management of systems or processes that convert or transform resources (including human resources) into goods and services. Operations management is responsible for managing the core processes used to manufacture goods and produce service.
2. Explain operations management’s role in business
Scope of operation management ranges across the organisation and includes many interrelated activities, such as:
• Forecasting
• Capacity planning
• Scheduling
• Managing inventory
• Assuring quality
• Motivating and training employees
• Locating facilities
Reviewing the activities performed in an airline company makes it easy to understand how a service organization’s operation management team adds value. The company consists of the aeroplans, airport and maintenance facilities.
3. Describe the correlation between operations management and information technology
Managers can use information technology (IT) to heavily influence operation management (OM) decisions including production, costs, flexibility, quality and customer satisfaction. One of the greatest benefits of IT on OM is in making operational decisions because OM experts considerable influence over the degree to which the goals and objectives of the organisations are realised. Most OM decisions involve many possible alternatives that can have verifying impacts on revenues and expenses. OM decisions, including :
What: What resources will be needed and in what amounts?
When: When should the work be scheduled?
Where: Where will the work be performed?
How: How will the work be done?
Who: Who will perform the work?
4. Explain supply chain management and its role in a business
A supply chain is a network of organizations and facilities that transforms raw materials into products delivered to customers. Customers order from retailers, who in turn order from distributors, who in turn order from manufacturers, who in turn order from suppliers. The supply chain also includes transportation companies, warehouses, and inventories and some means for transmitting messages and information among the organizations involved.
5. List and describe the five components of a typical supply chain
Plan – this is the strategic portion of supply chain management. A company must have a plan for managing all the resources that go toward meeting customer demand for products or services. A big piece of planning is developing a set of materials to monitor the supply chain so that it is efficient, costs less, and delivers high quality and value to customer.
Source – companies must carefully choose reliable suppliers that will deliver goods and services required for making products. Companies must also develop a set of pricing, delivery, and payment progresses with suppliers and create metrics for monitoring and improving the relationships.
Make – this is the step where companies manufacture their products or service. This can include scheduling the activities necessary for production, testing, packing, and preparing for delivery. This is by far the most metrics – intensive portion of the supply chain, measuring quality levels, and production output and worker productivity.
Deliver – this step is commonly referred to as logistic. Logistic is the set of process that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers. During this step, companies must be able to receive orders from customers, fulfil the orders via a network of warehouse, pick transportation companies to deliver the products, and implement a billing and invoicing system to facilitate payments.
Return – this is typically the most problematic step in the supply chain. Companies must create a network for receiving detective and excess products and support customers who have problem with delivered products.
6. Define the relationship between information technology and the supply chain.
As companies evolve into extended organisations, the roles of supply chain participants are changing.
Technology advances in the five supply chain management (SRM) components have significantly improved companies’ forecasting and business operations
Integrated Systems provide companies with greater visibility over the supply chain inventory levels
IT’s primary role is to create integrations or tight process and information linkages between functions within an organization.
Related videos could be viewed at:
www.youtube.com/results?search_query=Operations+Management+and+Supply+Chain&aq=f
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