MNO3701 Production and Operations Management - summary

PRODUCTION AND OPERATIONS MANAGEMENT TOPIC 1: Foundations STUDY UNIT 1: Introduction to production and ops management  Explain what production/operations management entails  justify why production/operations management focuses on managing processes  distinguish between different operations processes based on the key dimensions of volume, variety, variation, and visibility  identify and describe the various activities of production/operations management  illustrate and explain the constituent parts of a general production/ operations management model  use the knowledge, insight and skills you have attained regarding production and operations management  the focus of production/operations management on managing processes  distinguishable operations processes based on the key dimensions of volume, variety, variation and visibility  the activities of production/operations management  the general model of production/operations management  to justify its relevance and to demonstrate this by identifying both correct and incorrect statements with regard to, specifically the study  material but also with practical applications in general, in either multiple-choice format or essay-type questions  show evidence of your appreciation of the introduction to production  What is operations management o The activity of managing the resources which are devoted to the production and delivery of products and services. It is a core function of any business although it may not be called ops management o It is concerned with managing processes. Because all management functions manage processes it is relevant to all managers  What are the similarities between all operations o All operations can be modeled ass input-transformation-output processes. o Few operations produce only products or only services but rather a mixture of both o All operations are part of a larger supply network through which each operation contributes to satisfying end customer requirement o All ops are made up of a network of internal customer-supplier relationships within the operations  How are operations different from one another o They differ in terms of the volume of output, the variety of output, variation of demand and degree of visibility or customer contact  What do ops managers do and why is it so important o Translation of strategy into operational action o Design, planning, controlling and improvement of operation/processes o Can aid in reducing of costs, increasing revenue and reducing the investment cost for future innovation o Because of the a turbulent and dynamic business environment ops managers need to think on their feet o Improving operations can be the most effective way to improve financial performance S - The study-notes marketplace Downloaded by: leroy01 | Distribution of this document is illegal S - The study-notes marketplace  Effective production and operations management o This function is devoted to production and delivery of products and services o The managers have a particular responsibility for managing the resources which comprise the operations function o Production and operations management deals with the specialist field in a business organisation that is primarily responsible for managing the conversion processes (also referred to as the transformation processes) whereby goods (or products) are manufactured and/or services are rendered. o Because of the interrelationships among its different functional components, an ops manager must have a reasonable knowledge of the internal workings of this discipline. Without this knowledge, it is conceivable that the business will not be able to manu