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Operations Management & Logistics Summary
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,Lecture 1 - Chapter 1→ Chapter 1 - Introduction
– Operations refer to the conversion of inputs (resources) into outputs
(products).
– Operations involve the workflow ordering of activities to produce the
product.
→ The functional-based workflow is important to understand this
phenomenon - Who is going to operate and which kind of machine.
– Logistics: products need to be physical moved, warehoused and stored.
→ The supply chain process refers to the processes that move information
and material to and from a firm, ranging from raw materials to consumers.
– Operations and supply chain management is defined as not only the design
and operation, but also the improvement of the systems that create and
deliver the firm primary products and services.
– Success of producing at low costs while meeting (mass) customer demand
depends on:
• Clever integration of a great operations-related strategy
• Processes to produce and deliver products and services
• Analytics to support the decisions needed to manage the firm
– But the improvement of the processes and system that create and deliver
the firm’s primary products and services is also part of OSCM. It is about
improving and innovation.
,– Designing and improving operations often requires changes in workflow
ordering and organisational structure:
• Functional-based workflow: produce product B after A (batch-based)
• Product-based workflow: Produce product A & product B simultaneously.
– Operations and Supply chain processes are interlinked so require analytics
(based on metrics) to steer.
,– Producing and delivering goods is different compared with services.
Product-Service Bundling
– When a firm builds service activities into its product offerings to create
additional value for the customer.
Current Issues in Operations and Supply Chain Management
• Disruptions in the global supply chains
• Uncertainty in global tariffs and regulations
• Difficulty in hiring and keeping employees
• Adapting to change in business technology and infrastructure
• Sustainability and the triple bottom line
• Servitization, digitalisation, BIG data, Artificial Intelligence
Evaluating Operations & Supply Chain Process on efficiency,
effectiveness, and value.
– Efficiency; A ratio of the actual output of a process relative to some
standard. Also, being “efficient” means doing something at the lowest possible
cost.
– Effectiveness; means doing the right things to create the most value for
the company.
– Value; for customers is quality divided by price.
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