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BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
BUS 100 lecture slides, March 31
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BUS 100 lecture slides, March 31

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  • Chapter 4: Business Systems
  • How is operations management different for services?
  • Management commitment to supporting TQM at every level in the organization Clear focus on customers and their needs Employee involvement throughout the organization Commitment to continuous improvement Willingness to treat suppliers as partners Meaningful performance measurements
  • Transcript

    1. ©2007 Prentice Hall 4- Operations Management, cont’d Chapter 11
    2. capacity planning
    3. how much?
    4. forecast demand
    5. too little?
    6. too much?
    7. inventory
    8. what's wrong with inventory?
    9. JIT Just in Time
    10. what's wrong with JIT?
    11.  
    12. effects?
    13.  
    14.  
    15. <ul><li>intangibility </li></ul><ul><li>customization </li></ul><ul><li>customers </li></ul><ul><li>perishability </li></ul>
    16. quality? <ul><li>Philip B. Crosby: &quot;Conformance to requirements.“ </li></ul><ul><li>Joseph M. Juran: &quot;Fitness for use.“ </li></ul><ul><li>Six Sigma: &quot;Number of defects per million opportunities.“ </li></ul><ul><li>Robert Pirsig: &quot;The result of care.“ </li></ul><ul><li>Peter Drucker: “What the customer gets out and is willing to pay for.&quot; </li></ul>
    17. total quality management (TQM) <ul><li>management commitment </li></ul><ul><li>customer satisfaction </li></ul><ul><li>employee involvement </li></ul><ul><li>continuous improvement </li></ul>©2007 Prentice Hall 4-
    18. TQM/CQI <ul><li>Developed by US in 1940s to increase production </li></ul><ul><li>First implemented by Japanese manufacturers in 1950s </li></ul><ul><li>Why not US? </li></ul>
    19. US auto mfr. market share
    20. GM Largest US mkt share 1931—2007 2010 mkt share smallest since 1925
    21. Largest auto manufacturer?
    22. statistical process control <ul><li>6 σ </li></ul><ul><li>Fewer than 3.4 defects per million </li></ul><ul><li>99.99966% yield </li></ul><ul><li>define </li></ul><ul><li>measure </li></ul><ul><li>analyze </li></ul><ul><li>improve </li></ul><ul><li>control </li></ul>
    23. benchmarking
    24. certification <ul><li>ISO: int'l org. for standards </li></ul><ul><li>ISO 9000: quality </li></ul><ul><li>ISO 14000: environmental </li></ul>
    25. Chapter 12: Accounting
    26. identifying, measuring, and communicating financial information to provide interested parties information necessary to make good decisions
    27. information?
    28. data?
    29.  
    30. SO?!?
    31. what context do we need to make data meaningful?
    32. price-cost/price = margin price x sales = revenue cost x sales = CGS revenue-CGS = gross profit
    33. Managerial Accounting (insider information) <ul><li>cost accounting </li></ul><ul><li>planning </li></ul><ul><li>controlling </li></ul><ul><li>tax accounting </li></ul>
    34. Financial Accounting (outsider information) <ul><li>annual report </li></ul><ul><li>private accountant (in-house) </li></ul><ul><li>public accountant (clients on a fee basis) </li></ul><ul><li>Financial Accounting Standards Board (FASB) </li></ul><ul><ul><li>Generally Accepted Accounting Practices (GAAP) </li></ul></ul>
    35.  
    36. Auditing: reviewing and evaluating records <ul><li>independent audit: accuracy of company’s financials </li></ul><ul><li>internal audit </li></ul>
    37. Tax Accounting <ul><li>trained in tax law </li></ul><ul><li>prepares tax returns </li></ul><ul><li>prepares tax strategies </li></ul>
    38. Balance Sheet: shows profits & losses as of specific date <ul><li>Fundamental Accounting Equation </li></ul><ul><li>Assets = Liabilities + Owners’ Equity </li></ul>
    39. Tangible Assets <ul><li>fixed assets (property, plant & equipment PPE) </li></ul><ul><ul><li>land </li></ul></ul><ul><ul><li>buildings & improvements </li></ul></ul><ul><ul><li>equipment </li></ul></ul><ul><ul><li>vehicles </li></ul></ul><ul><ul><li>furniture & fixtures </li></ul></ul>
    40. Tangible Assets <ul><li>current assets (can be converted to cash w/in one year) </li></ul><ul><ul><li>raw materials </li></ul></ul><ul><ul><li>work in progress </li></ul></ul><ul><ul><li>finished inventory </li></ul></ul><ul><ul><li>accounts receivable </li></ul></ul>
    41. Intangible Assets <ul><li>goodwill </li></ul><ul><li>intellectual property </li></ul><ul><ul><li>Trademarks </li></ul></ul><ul><ul><li>Copyrights </li></ul></ul><ul><ul><li>patents </li></ul></ul>
    42. Liabilities <ul><li>current liabilities (due in less than one year) </li></ul><ul><ul><li>accounts payable </li></ul></ul><ul><li>long-term liabilities (due in one year or more) </li></ul><ul><ul><li>notes payable </li></ul></ul><ul><ul><li>bonds payable </li></ul></ul>
    43. Income Statement <ul><li>shows cash flows over a certain period </li></ul><ul><li>revenue - CGS = gross margin </li></ul><ul><li>gross margin - operating expenses = net income before taxes </li></ul><ul><li>net income before taxes - taxes = net income (loss) </li></ul>
    44. Valuation issues <ul><li>depreciation </li></ul><ul><li>valuation method: cost (book), market, replacement </li></ul><ul><li>cost of goods sold </li></ul><ul><ul><li>FIFO, LIFO </li></ul></ul>
    45. Liquidity Ratios <ul><li>current ratio: current assets / current liabilities </li></ul><ul><li>acid-test (quick) ratio: (cash +marketable securities+receivables) / current liabilities </li></ul>
    46. Debt (Leverage) <ul><li>debt to OE: total liabilities / owners’ equity </li></ul>
    47. Profitability <ul><li>EPS: net income after taxes / number of shares outstanding </li></ul><ul><li>return on sales: net income / net sales </li></ul><ul><li>return on equity: net income after tax / owners’ equity </li></ul>
    48. photo credits <ul><li>Barista: http://www.flickr.com/photos/gorriti/ </li></ul><ul><li>Accountant upstairs: http://www.flickr.com/photos/jahdakinebrah/ </li></ul>

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