100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Summary Operations Management exam 2 - 9th edition (Nigel Slack and Alistair Brandon-Jones) $5.93
Add to cart
Quickly navigate to
Preview
  2.  
  3. Universiteit Twente (UT)
  4.  
  5. Operations Management

Summary

Summary Operations Management exam 2 - 9th edition (Nigel Slack and Alistair Brandon-Jones)

1 review
 10 purchases
  • Course
  • Operations Management
  • Institution
  • Universiteit Twente (UT)
  • Book
  • Operations Management

Elaborate summary of the book Operations Management 9th edition. Can be used for the course Operations Management for the first year (second module) of the program International Business Administration at the University of Twente. Contains chapters 13, 14 ( supplement), 15, 16, 17 ( supplement) and...

[Show more]

Preview 4 out of 38  pages

Document information

  • No
  • Hoofdstukken 13, 14 ( supplement), 15, 16, 17 ( supplement) en 18.
  • June 16, 2020
  • 38
  • 2019/2020
  • Summary

Subjects

  • university of twente universiteit twente international business administration iba 1st year iba 2nd module iba nigel slack alistair brandon jones isbn 9781292253961 international business operations management exam 2

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

Written for

  • Universiteit Twente (UT)
  • International Business Administration
  • Operations Management
All documents for this subject (19)

1  review

review-writer-avatar

By: nollymangolele5 • 3 year ago

Seller

avatar-seller
mertelems

Reviews received

Content preview

Operations Management exam 2
9th edition
Nigel Slack and Alistair Brandon-Jones




1

,Index
- Chapter 13

- Chapter 14

- Supplement chapter 14

- Chapter 15

- Chapter 16

- Chapter 17

- Supplement chapter 17

- Chapter 18




2

,Chapter 13
Inventory = the accumulations of materials, customers or information (transformed
resources) as they flow through processes or networks
1. Physical inventory
2. Queues
3. Databases

Physical inventory (stock) = the accumulation of physical materials such as components,
parts, finished goods or physical (paper) information records
Queues = accumulations of customers
Physical as in a queueing line or people waiting.
Databases = stores for accumulations of digital information

Buffer inventory/safety inventory = inventory to compensate for the unexpected fluctuations
in supply and demand

Inventory management = managing these accumulations

Uneven flows = difference between the timing r the rate of supply and demand at any point
in a process or network

Supply > demand: inventory increases
Demand > supply: inventory decreases

In-flow = supply from previous processes
Out-flow = rate of demand from output process




3

, Reasons to avid inventories
Physical inventories Queues of customers Digital information in
databases
Cost - Ties up working - Primarily time-cost - Cost of set-up, access,
capital to the customer update and
- Could be high maintenance
administrative and
insurance cost
Space - Required storage - Requires areas for - Requires memory
space waiting or phone capacity
lines for held calls - May require secure
and/or special
environment
Quality - May deteriorate - May upset - Data may be corrupted
over time, become customers if they or lost or become
damaged or have to wait too obsolete
obsolete long
- May lose customers
Operational/ - May hide problems - May put undue - Databases need
organizational pressure on the constant management:
staff and so quality access control, updating
is compromised for and security
throughput

Benefits of physical inventory
1. Is an insurance against uncertainty
2. Can counteract a lack of flexibility
3. Allows operations to take advantage of short-term opportunities
4. Can be used to anticipate future demands
5. Can reduce overall costs
6. Can increase in value
7. Fills the processing ‘pipeline’

‘pipeline’ inventory = transformed resources cannot be moved instantaneously between the
point of supply and the point of demand

Benefits of queues of customers
1. Help balance capacity and demand
2. Enable prioritization
3. Gives customers time to chose
4. Enable efficient use of resources

Benefits of databases
1. Provide efficient multi-level access
2. Allow single data capture
3. Speed the process


4

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller mertelems. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $5.93. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69052 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$5.93  10x  sold
  • (1)
Add to cart
Added