Professional Documents
Culture Documents
The OM is the science and art of ensuring that goods and services are created and delivered successfully to customers .
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Value chain
A value chain is a network of facilities and processes that describes the flow of goods and services, information and financial transactions from suppliers through the facilities and processes that create goods and services and delivers them to customers . Supply chain is the portion of value chain that focuses primarily on the physical movement of goods and materials and supporting flows of information and financial transactions through the supply ,production and distribution processes .
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History
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History
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History
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8-Quality Revolution
Post 2nd world war Japan leaned heavily on W Edwards Deming and Joseph Juran Embraced Quality .By 1970 their products ruled the world . The Q R started in 1980 ;If Japan can why cant we ? Quality became an obsession . In 1987 US Govt established the Malcolm Baldridge National Quality Award .This Baldridge program has been instrumental in bringing quality to the attention of Top Management
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Using Models on OM
A model is a set assumptions that characterize a decision situation and allow us to draw a conclusion about the real situation through some type of analysis Using EXCEL we can develop and use a variety of models to assist us in making key OM decisions .we will learn how to develop and use models and interpret the results in OM .
An assumption in BEPV is that the costs and revenues are occurring simultaneously .Not true .Time is not a critical variable is an assumption .
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What is a Model
A model can come in many shapes, sizes, and styles. It is important to emphasize that a model is not the real world but merely a human construct to help us better understand real world systems. In general all models have an information input, an information processor, and an output of expected results. Key features in common with the development of any model is that: simplifying assumptions must be made; boundary conditions or initial conditions must be identified; the range of applicability of the model should be understood.
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Service Revolution
1955 .In US 50% of the work force was employed in service sector . Today it is 4 out of every 5 jobs are in Service sector . Moreover the 50% goods producing industries Jobs are service related /HR/FI etc Meaning if you are working in US You are most likely working in Service sector . However Manufacturing is not Dead .It is alive and kicking .
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The Challenges
Consumers . Workers Environment . Technology
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Organization Structure
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Conversion Process
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GDP
GDP Rate of Growth Infrastructure Development . Service Sector Growth Shift of Manufacturing Industries Out Sourcing etc
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Operations strategy
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