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Operating Management - Chapter 1 and 2 - Coggle Diagram
Operating Management - Chapter 1 and 2
What is an "operation"?
Operations
Activities that create value through G&Ss by turning inputs to outputs
What is "operations management (OM)"?
Planning, organizing, supervising activities to make them as efficient as possible
What is the value of OM?
Why study it
Operations is an essential function in an org
There is market for operation analysts
Good to have knowledge of it even in other careers
How is it helpful for firms
What is efficiency?
How to be efficient?
Understand operations
classification of operations
Goods and service operations
Measure operations
Productivity measure
Productivity = Output / Input
Single factor productivity
Output / Single factor input
Example: Labor Productivity = Output/ Labor Input
Multi factor productivity
Output / Input1 + Input2...+Input n
Improve operations
Reduce input
Increase output
Waste inputs
Inventory
Waiting
Defects
Overproduction
Motion
Transportion
Over-processing
Both
JIT production
Pull system