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
BMAL-590 FOUNDATIONS OF OPERATIONS/PRODUCTION MANAGEMENT EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ CA$15.09   Add to cart
Quickly navigate to
Preview
  2.  
  3. BMAL 590
  4.  
  5. BMAL 590

Exam (elaborations)

BMAL-590 FOUNDATIONS OF OPERATIONS/PRODUCTION MANAGEMENT EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++
 11 views  0 purchase
  • Course
  • BMAL 590
  • Institution
  • BMAL 590

BMAL-590 FOUNDATIONS OF OPERATIONS/PRODUCTION MANAGEMENT EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ Operations and Supply Chain Strategies Organizations will seek a strategy that focuses on either efficiency or responsiveness in their operations and supply chain An organizat...

[Show more]

Preview 4 out of 44  pages

Document information

  • October 7, 2024
  • 44
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • bmal 590 foundations of operationsproduction mana

Written for

  • BMAL 590
All documents for this subject (307)

Seller

avatar-seller
NurseAdvocate

Reviews received

Content preview

BMAL-590 FOUNDATIONS OF OPERATIONS/PRODUCTION

MANAGEMENT EXAM QUESTIONS AND ANSWERS WITH

COMPLETE SOLUTIONS GRADED A++

Operations and Supply Chain Strategies


Organizations will seek a strategy that focuses on either efficiency or responsiveness in their operations

and supply chain



An organization that is focused on efficiency as a strategy is seeking to compete on lower cost, while an

organization focused on a responsiveness strategy is seeking to compete on speed of delivery.



Both strategies will impact the price of the product and the perception of quality. Regardless of the

strategy, the ultimate goal of the organization is to make profits, and preferably more profits than its

competitors.



Thus it is possible that either the more efficient or the more responsive organization could be more

profitable. It is also possible that neither organization is profitable - particularly if they do not manage

their operations well


Operations and Supply Chain Strategies for Three "World Class" Organizations


Kellogg's has an extensive product line and serves international markets with a large network of plants.

Important operations decisions include the product mix at each plant, the network of suppliers,

,inventory policies, and forecasting.



Sony makes and sells a huge variety of electronic goods all around the world and much of the

manufacturing occurs in Japan and China as well as the Americas and Europe. Manufacturing costs vary

but the increased responsiveness of having supply near a major source of demand is a savvy business

decision. Sony's dispersed production and customer base create numerous logistical challenges, and

Sony manages these challenges through third-party logistics.



American Express is a financial services company whose supply chain is not as complex as Kellogg's or

Sony's. Important decisions it must make include locating retail branches, locating other operations (call

centers), and choosing suppliers—such as manufacturers of credit cards and providers of IT and billing

services.


Competitive Priorities Versus Capabilities


Competitive priorities are the relative rankings of what the company would like to achieve.



Competitive capabilities are the relative effectiveness that the company is able to actually achieve. Some

companies start with a competitive priority because there is a niche in the market that is not being filled,

such as the high level of product flexibility in the mobile device arena (Dell, Apple) while others start

with an existing set of competitive priorities and then find products and markets that are a good fit for

the priorities (Starbucks).


When considering an efficient strategy:


an organization is seeking to be efficient in its operations processes in order to offer a lower price in the

market by using cost and quality approaches.

,A low cost leader, seeks lower prices as the easiest reason to communicate to customers why they

should buy a particular product or service.



Unfortunately, simply lowering prices will lead to reduced profits or even losses; therefore, a company

must simultaneously reduce its operating costs. Low-cost operations seek to provide a product or service

that is less expensive than similar products or services offered by competitors.



To reduce operating costs an organization should consider qualitymanagement tools (described in

sections 2 and 3) as a means for cost reduction. Customers will pay a premium for superior quality. Yet, a

quality strategy is beyond offering a product or service that is superior to the alternatives. Consistent

quality involves meeting the product specifications and the promises made to customers with high

reliability. The product does not necessarily have to be superior to another, but customers must have a

high degree of confidence that what they are buying will perform as promised.



Yet, quality as a strategic approach seeks to reduce scrap, eliminate waste, and improve process

efficiencies.


When considering a responsive strategy:


an organization is seeking to compete on speed of delivery in the market by using time/delivery and

flexibility approaches.



With time/delivery, organizations focus on the gap between when a customer orders a product and

when he or she receives it. On-time delivery involves delivering a product when it is promised, but not

, necessarily quickly. Delivery speed means that an organization offers to deliver a product/service faster

than a competitor. Getting something quickly has obvious appeal. Many customers will pay a premium

for speed. Product development speed refers to the time between generations or major changes to a

product. Product development speed is important to just about any business, but it is particularly

important in dynamic industries such as electronics, computers, and fashion.



When considering flexibility, organizations take into account (a) customization—the ability to make a

product to exactly fit customer needs; (b) postponement—keeping products in a standard format and

then adding unique components for individual customers at the last possible moment; (c) mass

customization—products are produced in high volume at standard product costs but are customized to

individual customer tastes; (d) variety—the ability to handle a wide range or assortment of products

without undue costs; or (e) volume flexibility—the ability to adjust production volume up or down to

meet fluctuations in demand. Volume flexibility is important when supporting delivery speed and when

demand is fairly unstable.


Examples of Companies with Different Operations Strategies


Low cost

Superior quality

Delivery speed

Customization flexibility



Walmart

Taco Bell

Southwest Airlines

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 NurseAdvocate. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$15.09. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67474 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$15.09
  • (0)
  Add to cart