The document discusses the 4Ms of operations - methods, manpower, machines, and materials. It describes each of these operational aspects in detail. For methods, it discusses processes for manufacturing goods and delivering services, including standard operating procedures. For manpower, it covers job descriptions, employee qualifications, and hiring the right people. For machines, it addresses technology used in business operations. And for materials, it discusses supply chain management and resources used to create products or services. The 4Ms provide an operational framework for effectively running a business.
This document provides an overview of production and operations management. It discusses key topics such as:
- The definition and importance of production and operations management.
- The input-transformation-output model and how it defines the basic characteristics of production and operations management.
- The different types of inputs (transformed and transforming resources) and examples.
- The 5Ps (product, plant, process, people, and programs) that operations management revolves around.
- The differences between physical goods and services and how it impacts production decisions.
- The basic objectives and scope of production and operations management.
- Key production and operations management decisions at different levels and how they are interrelated.
Topic 1 & 2 operations mgt.doc hand out 1ALLEN NUWAMANYA
This document provides an overview of production and operations management. It discusses key topics such as:
- The definition and importance of production and operations management.
- The input-transformation-output model and how it defines the basic characteristics of production and operations management.
- The different types of inputs (transformed and transforming resources) and examples.
- The 5Ps (product, plant, process, people, and programs) that operations management revolves around.
- The scope and levels of production and operations management decisions within an organization.
- Competitive priorities like quality and cost that are directly related to productivity.
Operations management involves delivering products and services to customers to meet or exceed their expectations for quality, delivery, and price. It requires designing an Enterprise Delivery System that sources inputs, transforms them through production processes, and provides the final outputs to customers. Key aspects of managing the operations function include understanding customers' quality, delivery, and price expectations; ensuring efficient operating workflows; and designing effective physical layouts for factories or service areas. Operations managers must also focus on nine critical sub-processes like technology utilization, layout, and capacity balancing to optimize the transformation of inputs to outputs.
Operations management involves delivering products and services to customers to meet or exceed their expectations for quality, delivery, and price. It requires designing an Enterprise Delivery System (EDS) that transforms inputs like materials, money, manpower, and machinery into outputs through efficient production processes. The EDS must be configured based on customer expectations as well as the chosen technology and organizational structure. Critical sub-processes in the transformation stage include managing workflow, layout, production, maintenance, and quality to convert inputs efficiently into outputs that satisfy customers.
The document provides an overview of operations management. Some key points:
1. Operations management refers to managing the resources dedicated to producing and delivering products and services. The operations function is responsible for transforming inputs like materials, machines, labor and capital into outputs like goods, products and services.
2. Operations managers oversee the operations function and are responsible for production, quality control, scheduling and inventory management.
3. The operations function interacts with other areas like marketing, finance and human resources. It provides production data to finance and requests resources from various functions.
4. Key activities in operations management include organizing work, selecting processes, quality control and production planning and scheduling. Operations managers deal with people, technology
Entrepreneurship - Lesson 6 - 4M's of Operation in Business Opportunity and B...leah joy valeriano
The document discusses the 4 M's of operations - Manpower, Materials, Machinery, and Methods - which are important factors to consider for any business opportunity. It also explains the importance of developing a strong business model that identifies the target audience, establishes processes, and determines partners. Finally, it emphasizes that a business plan is a crucial tool for guiding a business and securing investment, as it outlines the management, marketing, financials, production needs, and competitive strategy.
This document provides an overview of factors to consider in a feasibility study. It discusses assessing market potential and prospects, including segmenting the market, evaluating competition, and estimating market share. It also covers evaluating the viability of technology and operations, including assessing required investments, production costs, and financial forecasts like income statements, balance sheets, and key financial ratios to determine financial feasibility. The feasibility study is an important tool for entrepreneurs to enhance the likelihood of a new business venture's success.
1 BUS B899F Assignment 1 Date due 28 November 2019.docxjeremylockett77
1
BUS B899F Assignment 1
Date due: 28 November 2019 (Thursday) 5 December 2019
Weighting: 5% of the total marks for this course
Length: You are advised to write no more than 3,000 words for this assignment.
Important note:
a. As a mechanism to maintain academic integrity, students are required to
submit both hard and soft copies of their assignments as below:
i. Submission of soft copy
Students should upload the Originality Report, which is downloaded after
processing by the Turnitin, to the OLE of the course by 6:00 pm on the
submission due date. The Originality Report uploaded to the OLE should
be in pdf format, contains the content of the student’s assignment, the
results of an originality check with highlight of matching text. The user
guide of Turnitin is available on the OLE for reference.
Students should upload a soft copy of the assignment to the OLE of the
course by 5:00 pm on the submission due date. Files uploaded to the OLE
should be prepared in Microsoft Word. Please refer to the quick start
guide for submission of assignments to Turnitin.
ii. Submission of hard copy
Students should put a hard copy of the Turnitin Originality Report, in the
collection box on 8/F in Block A or 7/F in Block B by 6:00 pm on the
assignment due date.
iii. 10% of the marks awarded to the assignment will be deducted for each
day it is overdue until both hard and soft copies are submitted the soft
copy is submitted.
Students are allowed to upload their work in Turnitin once per
assignment. Please don’t upload the work to Turnitin in the last minutes
as it takes time to generate the Originality Report. Students must ensure
that the content of both the hard and soft copy are identical. In case of
discrepancies between the two copies, only the hard copies of your
assignment with the Turnitin Originality Report will be graded and
returned.
b. Please include a word count at the end of your assignment. Please note that
the tutor is given the discretion to deduct marks for exceeding the word limit
2
or to disregard the content after the word limit is reached.
3
Tasks: (100 marks)
Before you write this assignment, please consider some issues relating to
business ideas, including formulating a business idea; exploring and clarifying
the possible problems associated with the idea; and evaluating the idea.
This assignment should include business proposal sections 2-4 (see the appendix
for details):
1. Introduction, including the reader to your business idea and preview of
content of the proposal; (20 marks)
2. Company overview, including company profile/proposed organization, and
the mission, vision and goals of the business; (30 marks)
3. Proposed business, including purposes and values of the business, proposed
product/service, target customer, core competences for achieving the
business goals etc. (50 marks)
Points of Ad ...
This document provides an overview of production and operations management. It discusses key topics such as:
- The definition and importance of production and operations management.
- The input-transformation-output model and how it defines the basic characteristics of production and operations management.
- The different types of inputs (transformed and transforming resources) and examples.
- The 5Ps (product, plant, process, people, and programs) that operations management revolves around.
- The differences between physical goods and services and how it impacts production decisions.
- The basic objectives and scope of production and operations management.
- Key production and operations management decisions at different levels and how they are interrelated.
Topic 1 & 2 operations mgt.doc hand out 1ALLEN NUWAMANYA
This document provides an overview of production and operations management. It discusses key topics such as:
- The definition and importance of production and operations management.
- The input-transformation-output model and how it defines the basic characteristics of production and operations management.
- The different types of inputs (transformed and transforming resources) and examples.
- The 5Ps (product, plant, process, people, and programs) that operations management revolves around.
- The scope and levels of production and operations management decisions within an organization.
- Competitive priorities like quality and cost that are directly related to productivity.
Operations management involves delivering products and services to customers to meet or exceed their expectations for quality, delivery, and price. It requires designing an Enterprise Delivery System that sources inputs, transforms them through production processes, and provides the final outputs to customers. Key aspects of managing the operations function include understanding customers' quality, delivery, and price expectations; ensuring efficient operating workflows; and designing effective physical layouts for factories or service areas. Operations managers must also focus on nine critical sub-processes like technology utilization, layout, and capacity balancing to optimize the transformation of inputs to outputs.
Operations management involves delivering products and services to customers to meet or exceed their expectations for quality, delivery, and price. It requires designing an Enterprise Delivery System (EDS) that transforms inputs like materials, money, manpower, and machinery into outputs through efficient production processes. The EDS must be configured based on customer expectations as well as the chosen technology and organizational structure. Critical sub-processes in the transformation stage include managing workflow, layout, production, maintenance, and quality to convert inputs efficiently into outputs that satisfy customers.
The document provides an overview of operations management. Some key points:
1. Operations management refers to managing the resources dedicated to producing and delivering products and services. The operations function is responsible for transforming inputs like materials, machines, labor and capital into outputs like goods, products and services.
2. Operations managers oversee the operations function and are responsible for production, quality control, scheduling and inventory management.
3. The operations function interacts with other areas like marketing, finance and human resources. It provides production data to finance and requests resources from various functions.
4. Key activities in operations management include organizing work, selecting processes, quality control and production planning and scheduling. Operations managers deal with people, technology
Entrepreneurship - Lesson 6 - 4M's of Operation in Business Opportunity and B...leah joy valeriano
The document discusses the 4 M's of operations - Manpower, Materials, Machinery, and Methods - which are important factors to consider for any business opportunity. It also explains the importance of developing a strong business model that identifies the target audience, establishes processes, and determines partners. Finally, it emphasizes that a business plan is a crucial tool for guiding a business and securing investment, as it outlines the management, marketing, financials, production needs, and competitive strategy.
This document provides an overview of factors to consider in a feasibility study. It discusses assessing market potential and prospects, including segmenting the market, evaluating competition, and estimating market share. It also covers evaluating the viability of technology and operations, including assessing required investments, production costs, and financial forecasts like income statements, balance sheets, and key financial ratios to determine financial feasibility. The feasibility study is an important tool for entrepreneurs to enhance the likelihood of a new business venture's success.
1 BUS B899F Assignment 1 Date due 28 November 2019.docxjeremylockett77
1
BUS B899F Assignment 1
Date due: 28 November 2019 (Thursday) 5 December 2019
Weighting: 5% of the total marks for this course
Length: You are advised to write no more than 3,000 words for this assignment.
Important note:
a. As a mechanism to maintain academic integrity, students are required to
submit both hard and soft copies of their assignments as below:
i. Submission of soft copy
Students should upload the Originality Report, which is downloaded after
processing by the Turnitin, to the OLE of the course by 6:00 pm on the
submission due date. The Originality Report uploaded to the OLE should
be in pdf format, contains the content of the student’s assignment, the
results of an originality check with highlight of matching text. The user
guide of Turnitin is available on the OLE for reference.
Students should upload a soft copy of the assignment to the OLE of the
course by 5:00 pm on the submission due date. Files uploaded to the OLE
should be prepared in Microsoft Word. Please refer to the quick start
guide for submission of assignments to Turnitin.
ii. Submission of hard copy
Students should put a hard copy of the Turnitin Originality Report, in the
collection box on 8/F in Block A or 7/F in Block B by 6:00 pm on the
assignment due date.
iii. 10% of the marks awarded to the assignment will be deducted for each
day it is overdue until both hard and soft copies are submitted the soft
copy is submitted.
Students are allowed to upload their work in Turnitin once per
assignment. Please don’t upload the work to Turnitin in the last minutes
as it takes time to generate the Originality Report. Students must ensure
that the content of both the hard and soft copy are identical. In case of
discrepancies between the two copies, only the hard copies of your
assignment with the Turnitin Originality Report will be graded and
returned.
b. Please include a word count at the end of your assignment. Please note that
the tutor is given the discretion to deduct marks for exceeding the word limit
2
or to disregard the content after the word limit is reached.
3
Tasks: (100 marks)
Before you write this assignment, please consider some issues relating to
business ideas, including formulating a business idea; exploring and clarifying
the possible problems associated with the idea; and evaluating the idea.
This assignment should include business proposal sections 2-4 (see the appendix
for details):
1. Introduction, including the reader to your business idea and preview of
content of the proposal; (20 marks)
2. Company overview, including company profile/proposed organization, and
the mission, vision and goals of the business; (30 marks)
3. Proposed business, including purposes and values of the business, proposed
product/service, target customer, core competences for achieving the
business goals etc. (50 marks)
Points of Ad ...
The document provides information on 10 strategic operations management decisions that were implemented by Ford Motor Company and other companies. It discusses each of the 10 areas in detail: 1) Goods and services, 2) Quality management, 3) Process and capacity design, 4) Location, 5) Layout design and strategy, 6) Human resources and job design, 7) Supply chain management, 8) Inventory, 9) Scheduling, and 10) Maintenance. Implementing strategies in these 10 areas can help analyze and improve operations productivity for any size business.
This document provides an overview of Chapter 3 from a hospitality management course on supply chain management. It discusses the five key components of the supply chain management process: planning, developing/sourcing, making, delivering, and returning. For each component, it describes the main activities and goals. It also covers topics like supplier development, product development within hospitality, and returns management. The overall purpose is to explain the supply chain management process and its application within the hotel industry.
Production refers to the creation of goods or services by converting resources. For entrepreneurs, it is important to determine whether to focus on producing physical goods through manufacturing or creating services. Producing services is very challenging as it tests an entrepreneur's innovative and creative abilities. When deciding what to produce, entrepreneurs must consider what products or services will meet market needs even before creating a business plan. The production process requires in-depth technical, economic, and financial analysis to minimize costs and ensure appropriate personnel and technology are utilized.
Production and pricing aspects (report ko)Rexie Frias
Production refers to the creation of goods or services by converting resources. For entrepreneurs, it is important to consider whether to focus on producing physical goods through manufacturing or creating services. Producing services is very challenging as it tests an entrepreneur's innovative and creative abilities. When deciding what to produce, entrepreneurs must consider what products or services will meet market needs even before creating a business plan. The type of production, whether goods or services, impacts the funding, equipment, and infrastructure required by the business.
The document discusses the 4Ms of production - Manpower, Method, Machine, and Materials. It describes each of the 4Ms and provides examples. Manpower refers to the human labor involved in manufacturing. Method is the production process that transforms raw materials. Machine describes the manufacturing equipment used. Materials are the raw resources used to create the product. The document outlines factors that affect choosing a production method and considerations for selecting equipment and sourcing materials.
This document discusses key components of a business plan, including an introduction, executive summary, management section, marketing section, financial section, production section, competitive analysis, market definition, and organizational chart. It explains that the introduction discusses what the business plan covers, while the executive summary is the first part presented but last created. The management section shows how the business will be managed and key personnel. The marketing section outlines the product/service, pricing, sales channels, and marketing strategy. The financial section projects revenues, costs, and profitability. The production section specifies resources, equipment, and facilities needed. A competitive analysis identifies major competitors and a market defines target customers. An organizational chart illustrates reporting relationships.
A business plan outlines all aspects of running a business including management structure, marketing strategies, financial projections, and production details. It describes the business concept, products or services, target market, competitors, operations, and funding requirements. The business plan guides the business owner and serves as a proposal to potential investors or lenders.
Project Opportunity Finding or Account Mining is an approach used by companies, especially software companies, to find new opportunities from existing clients during economic downturns. It involves gathering detailed information about client accounts, analyzing client needs and capabilities, and creating documents that propose new projects or services based on gaps identified. Studies show companies using this approach gained 10-20% more projects compared to those relying solely on goodwill. The approach builds stronger client relationships and allows companies to provide more value-added consulting.
This document provides short summaries of material control and handling, labor productivity, personnel productivity, and strategic decision making. It also discusses operation strategy and its key elements. Finally, it describes different dimensions of quality including quality of design, conformance to design, utilization conditions, and after sales service. The key factors influencing plant location are also outlined, including availability of land, labor, inputs, transportation, markets, and infrastructure.
This document discusses strategy formulation and strategic decisions in operations. It outlines 5 steps to strategy formulation: 1) defining the primary task, 2) assessing core competencies, 3) determining order winners and qualifiers, 4) positioning the firm, and 5) deploying the strategy. It also discusses 7 areas of strategic decisions in operations: 1) products and services, 2) processes and technology, 3) capacity and facilities, 4) human resources, 5) quality, 6) sourcing, and 7) operating systems. The document provides examples and definitions for each step and strategic decision area.
The document is a mid-term exam presented by Ogbuokiri Emmanuel Chidiebube to the College of Production and Operations Management. It contains questions and answers about production management concepts.
The first question asks about the production concept and how it relates to production management in practice. The response discusses the importance of production and defines product from different perspectives including the consumer, production manager, financial manager, and personnel manager.
The second question asks about the role and responsibilities of a production manager in a typical manufacturing firm. The response outlines responsibilities related to cost, quality, volume, liaising with different departments, and having proper authority.
The third question asks how departments in a company relate to each
Om0013 advanced production and operations managementsmumbahelp
This document provides information about getting fully solved assignments. It gives a mail ID and phone number to contact for assignment help. It provides details like the semester, subject code, name, credits and marks for the Advanced Production and Operations Management subject. It also includes sample questions and answers related to the subject matter. The questions cover topics like types of operational strategies, computer-aided manufacturing, applications of just-in-time, new product development, V4L principles and demand management.
This document is a summer training report submitted by Ruhi to Panjab University, Chandigarh for their M.Com degree. The report details Ruhi's summer internship studying production and operational management at Mailbox Fashion Pvt. Ltd. under the supervision of Prof. Harblas Heera. The report includes an introduction to production management, company profile of Mailbox Fashion, findings from studying their production and operations, and a conclusion with suggestions.
PREPARE A POWERPOINT PRESENTATION TO THE COO ANDSILAS OLUDARE
The document discusses key considerations for setting up and managing a warehouse operation. At the strategic level, management must make decisions regarding product development, customers, manufacturing, suppliers/vendors, logistics, and product distribution. This includes identifying products and customers, determining manufacturing infrastructure, selecting strategic suppliers, designing efficient logistics networks, and establishing distribution channels. Operational factors like shrinkage prevention, zero delivery times, and accurate product movement are also important to minimize losses. Capital expenditures include construction costs, material handling equipment, and vehicles. Operational expenditures cover wages, licenses, repairs, supplies, insurance, and taxes.
This document discusses key concepts in managerial accounting and cost classifications. It provides examples of activities in the value chains of manufacturing and airline companies. It also defines important terms like non-value added costs, strategic cost management, and value chains. Managerial accounting aims to provide internal managers with information to make planning, control, and improvement decisions to increase customer satisfaction and organizational performance.
This document discusses concepts related to managerial accounting and cost management. It provides examples of activities in the value chains of manufacturing and airline companies. It also defines key terms like non-value added costs, strategic cost management, and value chains. Managerial accounting is discussed as providing information to managers for planning and control decisions, while financial accounting provides information outside the organization. The document ends with multiple choice questions related to these concepts.
This document outlines what should be included in a comprehensive business plan. A business plan should include: an executive summary; description of the business concept and model; analysis of the target customer and market; overview of competition, suppliers, and distribution channels; details of the products/services; business strategy; and financial projections including expected returns. The business plan provides an overview and guide for starting and operating a new business venture.
A retail audit is a checklist used to check stores' compliance with company standards for operations, merchandising, service, loss prevention, and health and safety. It allows deficiencies to be identified, tracked, assigned to managers, and resolved. Audits help ensure standards are implemented fully and consistently across all locations. They can be conducted by district managers visiting stores or as self-audits. There are four main types of audits: merchandising, loss prevention, health and safety, and competitive analysis. Retail audits are an important tool for companies to evaluate brand representation in stores and ensure exceptional customer experiences.
Bba501 production and operations managementsmumbahelp
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
This document provides guidance on implementing a home-based business. It outlines five important tasks for the first day of business: checking your business plan, telling others you are in business, setting up your business space, reminding yourself of your qualifications, and reaching out for support. It also discusses business functions like planning, organizing resources, staffing, directing, and controlling. Finally, it provides tips on selling strategies, building long-term customer relationships, inventory stages, and pricing models.
The document discusses key concepts related to developing a business model for a startup home-based business. It defines terms like business model, value proposition, startup costs, and marketing strategy. It explains that a business model identifies how a company will make a profit by selling products/services to target customers. The business model covers costs, marketing, competition and financial projections. Successful business models fulfill customer needs at a competitive price and sustainable cost.
The document provides information on 10 strategic operations management decisions that were implemented by Ford Motor Company and other companies. It discusses each of the 10 areas in detail: 1) Goods and services, 2) Quality management, 3) Process and capacity design, 4) Location, 5) Layout design and strategy, 6) Human resources and job design, 7) Supply chain management, 8) Inventory, 9) Scheduling, and 10) Maintenance. Implementing strategies in these 10 areas can help analyze and improve operations productivity for any size business.
This document provides an overview of Chapter 3 from a hospitality management course on supply chain management. It discusses the five key components of the supply chain management process: planning, developing/sourcing, making, delivering, and returning. For each component, it describes the main activities and goals. It also covers topics like supplier development, product development within hospitality, and returns management. The overall purpose is to explain the supply chain management process and its application within the hotel industry.
Production refers to the creation of goods or services by converting resources. For entrepreneurs, it is important to determine whether to focus on producing physical goods through manufacturing or creating services. Producing services is very challenging as it tests an entrepreneur's innovative and creative abilities. When deciding what to produce, entrepreneurs must consider what products or services will meet market needs even before creating a business plan. The production process requires in-depth technical, economic, and financial analysis to minimize costs and ensure appropriate personnel and technology are utilized.
Production and pricing aspects (report ko)Rexie Frias
Production refers to the creation of goods or services by converting resources. For entrepreneurs, it is important to consider whether to focus on producing physical goods through manufacturing or creating services. Producing services is very challenging as it tests an entrepreneur's innovative and creative abilities. When deciding what to produce, entrepreneurs must consider what products or services will meet market needs even before creating a business plan. The type of production, whether goods or services, impacts the funding, equipment, and infrastructure required by the business.
The document discusses the 4Ms of production - Manpower, Method, Machine, and Materials. It describes each of the 4Ms and provides examples. Manpower refers to the human labor involved in manufacturing. Method is the production process that transforms raw materials. Machine describes the manufacturing equipment used. Materials are the raw resources used to create the product. The document outlines factors that affect choosing a production method and considerations for selecting equipment and sourcing materials.
This document discusses key components of a business plan, including an introduction, executive summary, management section, marketing section, financial section, production section, competitive analysis, market definition, and organizational chart. It explains that the introduction discusses what the business plan covers, while the executive summary is the first part presented but last created. The management section shows how the business will be managed and key personnel. The marketing section outlines the product/service, pricing, sales channels, and marketing strategy. The financial section projects revenues, costs, and profitability. The production section specifies resources, equipment, and facilities needed. A competitive analysis identifies major competitors and a market defines target customers. An organizational chart illustrates reporting relationships.
A business plan outlines all aspects of running a business including management structure, marketing strategies, financial projections, and production details. It describes the business concept, products or services, target market, competitors, operations, and funding requirements. The business plan guides the business owner and serves as a proposal to potential investors or lenders.
Project Opportunity Finding or Account Mining is an approach used by companies, especially software companies, to find new opportunities from existing clients during economic downturns. It involves gathering detailed information about client accounts, analyzing client needs and capabilities, and creating documents that propose new projects or services based on gaps identified. Studies show companies using this approach gained 10-20% more projects compared to those relying solely on goodwill. The approach builds stronger client relationships and allows companies to provide more value-added consulting.
This document provides short summaries of material control and handling, labor productivity, personnel productivity, and strategic decision making. It also discusses operation strategy and its key elements. Finally, it describes different dimensions of quality including quality of design, conformance to design, utilization conditions, and after sales service. The key factors influencing plant location are also outlined, including availability of land, labor, inputs, transportation, markets, and infrastructure.
This document discusses strategy formulation and strategic decisions in operations. It outlines 5 steps to strategy formulation: 1) defining the primary task, 2) assessing core competencies, 3) determining order winners and qualifiers, 4) positioning the firm, and 5) deploying the strategy. It also discusses 7 areas of strategic decisions in operations: 1) products and services, 2) processes and technology, 3) capacity and facilities, 4) human resources, 5) quality, 6) sourcing, and 7) operating systems. The document provides examples and definitions for each step and strategic decision area.
The document is a mid-term exam presented by Ogbuokiri Emmanuel Chidiebube to the College of Production and Operations Management. It contains questions and answers about production management concepts.
The first question asks about the production concept and how it relates to production management in practice. The response discusses the importance of production and defines product from different perspectives including the consumer, production manager, financial manager, and personnel manager.
The second question asks about the role and responsibilities of a production manager in a typical manufacturing firm. The response outlines responsibilities related to cost, quality, volume, liaising with different departments, and having proper authority.
The third question asks how departments in a company relate to each
Om0013 advanced production and operations managementsmumbahelp
This document provides information about getting fully solved assignments. It gives a mail ID and phone number to contact for assignment help. It provides details like the semester, subject code, name, credits and marks for the Advanced Production and Operations Management subject. It also includes sample questions and answers related to the subject matter. The questions cover topics like types of operational strategies, computer-aided manufacturing, applications of just-in-time, new product development, V4L principles and demand management.
This document is a summer training report submitted by Ruhi to Panjab University, Chandigarh for their M.Com degree. The report details Ruhi's summer internship studying production and operational management at Mailbox Fashion Pvt. Ltd. under the supervision of Prof. Harblas Heera. The report includes an introduction to production management, company profile of Mailbox Fashion, findings from studying their production and operations, and a conclusion with suggestions.
PREPARE A POWERPOINT PRESENTATION TO THE COO ANDSILAS OLUDARE
The document discusses key considerations for setting up and managing a warehouse operation. At the strategic level, management must make decisions regarding product development, customers, manufacturing, suppliers/vendors, logistics, and product distribution. This includes identifying products and customers, determining manufacturing infrastructure, selecting strategic suppliers, designing efficient logistics networks, and establishing distribution channels. Operational factors like shrinkage prevention, zero delivery times, and accurate product movement are also important to minimize losses. Capital expenditures include construction costs, material handling equipment, and vehicles. Operational expenditures cover wages, licenses, repairs, supplies, insurance, and taxes.
This document discusses key concepts in managerial accounting and cost classifications. It provides examples of activities in the value chains of manufacturing and airline companies. It also defines important terms like non-value added costs, strategic cost management, and value chains. Managerial accounting aims to provide internal managers with information to make planning, control, and improvement decisions to increase customer satisfaction and organizational performance.
This document discusses concepts related to managerial accounting and cost management. It provides examples of activities in the value chains of manufacturing and airline companies. It also defines key terms like non-value added costs, strategic cost management, and value chains. Managerial accounting is discussed as providing information to managers for planning and control decisions, while financial accounting provides information outside the organization. The document ends with multiple choice questions related to these concepts.
This document outlines what should be included in a comprehensive business plan. A business plan should include: an executive summary; description of the business concept and model; analysis of the target customer and market; overview of competition, suppliers, and distribution channels; details of the products/services; business strategy; and financial projections including expected returns. The business plan provides an overview and guide for starting and operating a new business venture.
A retail audit is a checklist used to check stores' compliance with company standards for operations, merchandising, service, loss prevention, and health and safety. It allows deficiencies to be identified, tracked, assigned to managers, and resolved. Audits help ensure standards are implemented fully and consistently across all locations. They can be conducted by district managers visiting stores or as self-audits. There are four main types of audits: merchandising, loss prevention, health and safety, and competitive analysis. Retail audits are an important tool for companies to evaluate brand representation in stores and ensure exceptional customer experiences.
Bba501 production and operations managementsmumbahelp
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
This document provides guidance on implementing a home-based business. It outlines five important tasks for the first day of business: checking your business plan, telling others you are in business, setting up your business space, reminding yourself of your qualifications, and reaching out for support. It also discusses business functions like planning, organizing resources, staffing, directing, and controlling. Finally, it provides tips on selling strategies, building long-term customer relationships, inventory stages, and pricing models.
The document discusses key concepts related to developing a business model for a startup home-based business. It defines terms like business model, value proposition, startup costs, and marketing strategy. It explains that a business model identifies how a company will make a profit by selling products/services to target customers. The business model covers costs, marketing, competition and financial projections. Successful business models fulfill customer needs at a competitive price and sustainable cost.
This document discusses business forecasting. It begins by defining business forecasting as predicting future economic conditions based on past and present information. The document then lists the importance of business forecasting for strategic planning, finance, marketing, and operations. Finally, it discusses quantitative and qualitative forecasting methods, including time series analysis and historical trend analysis for quantitative methods. The key goals of business forecasting are to understand future demand and drive better decision making.
The document discusses the key steps in product development:
1) Developing a product description. This serves as the blueprint and should address the target market's needs.
2) Creating a prototype. This allows testing and refining the product concept before commercialization.
3) Testing the prototype. This identifies flaws and gathers feedback to improve the product before launch.
4) Validating market acceptability. This determines if the target market will purchase the product and tests the value proposition. Feedback from potential customers is gathered through marketing research.
The yoga rubric outlines 4 skills - readiness, breathing, participation/concentration, and technique - and scores them from 0-3 points based on competency. A score of 3 points represents advanced skills like always being eager to begin yoga and having poses perfectly executed. Intermediate skills that usually demonstrate the criteria earn 2 points. Basic skills that show some aspects earn 1 point. No effort earns 0 points.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
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This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
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2. IDEO’s Human-Centered Design
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6. Doblin’s Ten Types of Innovation
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13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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4. The 4Ms of Operations (Batisan, 2016)
The operations plan is an important part of the business
plan because it simply states the details in operating the
business. Operations management, on the other hand,
controls the implementation of the business plan. A strong
operations plan should have the four operational aspects _
called the 4Ms of operations: the methods, or the processes
to be followed in effectively manufacturing or delivering a
product or service; the manpower, or the right human
resources who will handle certain business operations; the
machines, or the technology used in efficiently operating the
business, and the materials to be used in creating a product or
performing a service, which includes supply chain
management.
5. Methods
The methods aspect represents the day-to-day operations
of a business. It describes how an entrepreneur will run the
business from all facets of the business such as the
manufacturing of goods, service delivery process,
distribution of goods and services, logistics for delivery of
goods, and inventory management, to name a few. The
entrepreneur has to be very detailed in formulating these
processes and must ensure that the customer experience has
to be very detailed in formulating these processes and must
ensure that the customer experience will be pleasant and
seamless. Internally, the processes must also abide with
industry standards and policies where the business belongs
(e.g., ISO certification).
6. The entrepreneur must also set standard operating procedures (SOPs) both in
manufacturing goods and rendering of services. These SOPs must be
monitored to validate compliance. The entrepreneur must also critically
consider the effects of these processes to the environment and to the
public.
I.Manufacturing of Goods (Schaper and Volery, 2004)
The entrepreneur who will engage in producing his or her own products
will have to consider the basic guidelines and principles in manufacturing.
7. Manufacturing is the process of translating raw materials into
finished goods that are acceptable to the customer’s standards. It
consists of three elements:
Input – the materials or ingredients, skills, technology and
investment to be used in creating the product
Process – the transformation phase where inputs are processed
by manpower and machines to come up with the final product
Output – the final product of the process stage, which is intended
to be sold to target customers
8. OPERATIONS MANAGEMENT IN MANUFACTURING
The entrepreneur must also consider the efficient manufacturing
site in which the manufacturing process will take place.
Depending on the entrepreneur’s objective and financial
9. capacity, he or she can opt to have any of the following
manufacturing sites:
Home-based – Most startups do not have financial capacity to
establish a manufacturing site. Thus, their only option is to
manufacture goods at home. This option is the cheapest and highly
flexible.
Commercial space for rent – this is advisable if the business really
requires a commercial space for processing of goods and if the home
option is not viable anymore. A commercial space gives the
entrepreneur a more specialized and suited manufacturing site
than manufacturing at home.
Commercial space purchase – this option requires the biggest
amount of capital expenditure, but it also provides the
entrepreneur substantial freedom and flexibility to design and run
the commercial space.
10. Once the entrepreneur has chosen a manufacturing site, he or she
should consider location, where the delivery of raw materials and
finished goods will be conducted. The transportation routes from or
to the manufacturing site should be efficient, so that the delivery of
raw materials and finished goods will be seamless. The location
should also be accessible to major types of transport vehicles. Last,
the location must operate in an environmental-friendly manner so as
not contribute to various types of pollution in the environment.
The internal layout or the floor plan of the manufacturing site
must also be critically done by the entrepreneur because it affects
the efficiency of the business operation. Each space should be
maximized to save on manufacturing costs (specifically overhead
costs). An efficient floor plan illustrates how raw materials and
finished goods can efficiently be transferred, processed, and released
from one processing unit to another. There are two options for the
11. floor plan: (1) the product- based layout where the facilities, are
prearranged according to the flow_ of the manufacturing operations,
and (2) the process-based layout, where the facilities are
prearranged. The entrepreneur must prepare a manufacturing
process flow, which serves as a step-by-step guide of the employees
and the manufacturing equipment.
BAKERY KITCHEN
12. II. Service Delivery Process
The entrepreneur who will engage in a service business must
be more meticulous when it comes to the service delivery
process. This is because services are intangible, and the only
way the customer can appreciate the service is by remembering
how pleasant his or her experience was. Moreover, a seamless
service saves the entrepreneur a huge chunk in operational
costs.
Service entrepreneurs must prepare a detailed flowchart of the
service business, which is also called a service blueprint. Every
process in the blueprint must be relevant to the service
business to minimize wastage. The service bottlenecks must be
addressed immediately to avoid customer complaints.
13. Bottleneck is a part of the process where there is an apparent
inefficiency and where the customer waits longer. The service
entrepreneur must develop scripts that the service provider
will follow to serve the customers better and to establish
standard processes. In terms of the floor plan, the service
entrepreneur must design it according to the most efficient
way in performing the service, which can be based on the
internal structure of the service business, service delivery
requirements, or customer requirements. For example, a
barber shop should place the receptionist in front so that
customers can easily inquire of the service that they will avail.
14. III. Distribution Method
One of the basic processes to be considered thoroughly is the distribution
process. Distribution is the process of bringing the products or services to
customers. In selling physical goods, the entrepreneur must plan the
15. location, the processes, and the distribution of the products to
the customers. The entrepreneur may also buy the finished goods
from the manufacturers and plan how to distribute them
efficiently to target distribution centers or the customers.
Distribution is not a straight process from the entrepreneur to
customers; thus, the term supply chain or distribution channel was
coined. The manufacturer will deliver the products to the
distributors, to the wholesalers, to the retailers, and then finally
to customers. Each member in the supply chain will have a fair
share in the profits, which may be squeezed if the supply chain
grows longer. This is why there is a tendency to impose higher
markups on the product price. It is now up to the entrepreneur
on what distribution channel strategies he or she will employ
depending on the product or service he or she will offer.
16. IV.Payment Process
The entrepreneur must also establish a seamless payment process.
Generally, there are no problems if the customers pay in cash. But
there are instances when they do not want to pay in cash and are
usually attracted by flexible and customer- friendly payment terms
such as credit cards, installment plans, or a simple account payable or
17. pautang. The entrepreneur must ensure that credit payments are
seamless and that the customers are aware of the terms and
conditions of the credit. Some entrepreneurs put point-of-sale (POS)
machines in their shops to accommodate those who will pay through
their credit or debit cards. For traditional ones, they put the credit
purchase in a ledger and indicate the due dates. Once the due date
arrives, the entrepreneur has to collect payments from the
customers. The objective for all entrepreneurs is to ensure efficient
collection of accounts receivables and avoid bad debts. He or she
must conduct due diligence first before allowing a customer to
purchase via credit.
19. Manpower
Manpower is one of the highest costs of operating a business but
is also the most instrumental to its success. Having the right people
encompasses a myriad of advantages.
I. Job Description
Job description enumerates the duties and responsibilities of the
potential employee, including the scope, limitations, and terms and
conditions of employment. The heading of a job description is the
job title, which is the summary of what the employee will do. The
entrepreneur should devise a respectable and decent job title
because the title boosts the self-confidence of the employee.
20.
21. II.Employee Qualification
In hiring suitable employees for the job needed, entrepreneurs
will have to lookfor the following criteria:
1.Educational background — This gives the entrepreneur an idea
on the degree of the candidate's knowledge of basic things.
However, it is not the sole factor in selecting a candidate.
2.Work experience — This will tell him or her what to expect from
the applicant and what he or she can potentially contribute to
the business based on his or her past positions and experiences.
This will also establish the training needs of the candidate.
3.Specific skill or knowledge - This one is important especially on
technical jobs that require high proficiency. It will be easy for
entrepreneurs to place highly skilled people into specialized jobs
because they can help right away.
22. 4. Work attitude - These deals with the worker's integrity and how
he or she deals with his or her coworkers, bosses, and customers.
Entrepreneurs also need people with relationship skills because
communication is important in applying their expertise.
III. Selection of Job Applicants
Here are some common questions being asked in an interview.
However, it will be up to the entrepreneur or the HR personnel to
ask relevant questions to the interviewee.
1.What are your strengths that you can contribute to our
organization?
2.What are your weaknesses that can prevent you from working
effectively inour organization?
23. 3. What exactly did you do in your previous job(s)? How will
these past experiences contribute to our organization?
4. What were your significant milestones in your previous job(s),
and why do you consider them as such?
5. Can you discuss the things you know about our organization?
Why are you interested to join our organization?
6. What are your career plans for the next five years if given the
chance to work with our organization?
7. Can you describe your work ethic? How do you work with a
team and withyour superior?
24. IV. Job Offer
Once the entrepreneur or the hiring manager has been
convinced already of the credentials and the interview answers
of the candidate, the job contract is now prepared. A job contract
generally summarizes the terms and conditions of the
candidate's employment with the business. It usually includes
the following details:
(1) rank or position of the candidate, (2) a list of responsibilities
or deliverables and its scope and limitations, (3) the salary and
benefits including vacation and sick leaves, and qualifications to
become (4) work schedule, (5) probationary period if any a
regular employee, (6) the duration of the contract, and (7)
resignation procedure (e.g., 30-day notice or leave immediately.
25. V. Employee Development
Training people is one of the biggest investments of an
entrepreneur or a businessman. Therefore, he or she must
devise strategies on how to keep employees satisfied working in
the company. Training starts with employee orientation.
26. Employee orientation is usually a one--to two-day session that
summarizes the history of the business, its vision and mission,
policies and procedures, culture, and norms of the business This
also includes introduction to the co-employees and superiors,
the tour of the work place, and the discussion of daily
responsibilities and accountabilities including key performance
indicators (KPI) and key result areas (KRA) of the employee.
KPIs and KRAs are the bases of the entrepreneur for rating the.
performance of the employee—if the employee is exceeding
meeting expectations, or seldom meeting expectations.
27. Machines
Machines are not only limited to physical equipment but can also
pertain to new technologies that help business operations become
standardized and seamless. Without machines, business operations
will be cumbersome, costly, and with low quality.
I.Equipment and Other Facilities
Depending on the product that the entrepreneur produces or the
service that he or she offers, the facilities must be strategically placed
in the manufacturing site or in the service delivery area. The
entrepreneur must prepare a facility plan that details the most
economical way to manufacture the product or offer the service by
placing the facilities where they can be efficiently used.
28. The sizes and shapes of the facilities and equipment affect the entire
operations process, so the site must adapt to how big or small the pieces of
equipment are. The site must also be conducive, well- ventilated, and well-
lit, so that the employees can manage the machines efficiently. There
should be fire exits and safety reminders on how to use the facilities to
ensure safety of the employees. The equipment to be used should all be
compliant with safety ensure safety requirementsto prevent accidents.
FACILITY PLANNING KITCHEN
29. II.Telecommunications and Information Technology
Regardless of any business the entrepreneur will venture into,
telecommunications and information technology
equipment is mandatory. These pieces of equipment include
mobile phones or smartphones, tablet computers, phablets (phone
and tablet in one), landline phones, laptops or desktop
computers, POS machines, software programs, and business
Web sites. These tools aid the entrepreneur in making
business processes fast and convenient. Here are the
advantages of having telecommunications and information
technology equipment ina business:
•Landline phones — order-taking, telemarketing, and
teleconferencing with business partners and customers.
30. •Mobile phones (smartphones, tablet computers, phablets) —
mobile application for order-taking, mobile application for
payments, mobile marketing, social media marketing,
teleconferencing with business partners and customers,
marketing research, mobile banking, and Internet promotions.
•Laptop and desktop computers — order-taking, Internet
marketing, making conference calls with business partners
and customers, marketing research, online banking,
preparing reports such as financial statements, business case,
inventory reports, and legal and compliance reports.
• POS machines — charging customers' debit or credit card,
tracking analyzing purchases sales, storing data,
31. • Accounting and inventory software — accounting all
business transactions and profitability, monitoring sales and
inventory
• Web site — order-taking, 24/7 marketing, having online
conversations with customers, tracking customer activities
online, collecting customer information.
The responsibility of the entrepreneur is to protect these
pieces of equipment physically and against fraudsters who will
be using this information to align or steal from the business.
These machines carry confidential information. Therefore,
they should be protected with strong passwords and used only
by authorized employees. Employees must be trained to keep
32. every piece of important information confidential, including
passwords. Software programs must always be updated and
checked against viruses and hackers. POS machines must
always be in working condition and must be referred to the
banks when not properly working. Equipment should be
covered in the event of loss of property due to accidental
events and accidents, machine breakdown, manual faults, or
interruption of business.
Materials
Whether the entrepreneur will offer products or cater
services, he or she has to pinpoint a number of dependable
suppliers of quality raw materials and supplies. The supplier
33. must have a consistent and sufficient number of raw
materials and supplies that can accommodate the demand of
the entrepreneur. In short, the selection of suppliers depends
largely on how the suppliers will not cause interruptions in
the production of goods or serving the customers. From the
onset, the entrepreneur should decide on what route to
choose when it comes to materials requisitioning. Options
include the following:
(1) Manufacturing own products or offer services
A huge chunk of capital must he prepared because all the
expenses in manpower, machines, and materials will be borne
by the entrepreneur. The entrepreneur must have studied the
business feasibility thoroughly, as the risk is larger with this
34. option. A set of competent employees can be augmented because
the machines or service the customers. But these challenges
entrepreneurs can be very specific in the details that he or she
wants for the product or service lie or she can also closely monitor
the quality of products or services, strategically design the
production or service blueprint, as well as its schedule, and be
more flexible in deciding on the' production quantity.
SUMMARY –RAW MATERIALS AND PROCESSING TO
34
35. 2) Outsourcing of manufacturing or service activities to a third
party
Outsourcing is the process of appointing a third-party
manufacturer to do the manufacturing operations of the business.
These third-party companies already have an expertise in handling
and manufacturing these products, supplies, or inventories, and
because they manufacture, they produce goods in bulk. These
drive the companies to create products or services tailored to the
entrepreneur's needs at a lower cost. Some outsource companies
offer to provide the services for the entrepreneur.
36. 3) Purchasing own product or service from present suppliers
Purchasing finished products from a manufacturer or offering the services of
another company is another viable option for the entrepreneur. In this setup, the
entrepreneur cannot own the brand name of the product or service. Moreover, the
manufacturer or the original service provider is allowed to sell to the entrepreneur's
competitors. In short, the entrepreneur is just one of the many distribution hubs of
the manufacturer or the original service provide. This setup is prevalent in
distribution businesses, finished retailers, sari-sari stores, and franchises.
37. Logistics
Entrepreneurs/manufacturers can also venture into distributing their
products on their own without the aid of a distributer or agent. This is
where the entrepreneur must understand and implement efficient logistics
management. As discussed earlier, the entrepreneur/manufacturer is
responsible for manufacturing, warehousing, transportation, inventory
management, marketing, and selling the product or service.
38. Warehousing is storing the finished goods manufactured in a
facility until they are distributed to end users. Warehousing
cost is usually substantial. Therefore, the entrepreneur should
think of ways on how to reduce the cost of warehousing by
either buying an economical warehouse or renting an
inexpensive space.
Transportation will also be a major cost in logistics
management. It is the process of efficiently transferring the
products to retailers or consumers. The
entrepreneur/manufacturer must purchase energy- efficient
vehicles that can carry a reasonable amount of merchandise to
prevent inefficient trips. The entrepreneur/manufacturer can
also use the presence of distribution hubs. The distribution hub
is where the entrepreneur/manufacturer combines the goods
39. before delivery to retailers or end consumers. Consolidating
different products in the distribution hub elicits efficiency
because, more often than not, a manufacturer carries multiple
products. Instead of delivering per product to retail outlets,
the entrepreneur/manufacturer can consolidate all the
products needed by the retail outlet and deliver just once.
Inventory should also be tracked religiously by the
entrepreneur/manufacturer. Each of the inventories in the
warehouse, distribution hubs, and manufacturing sites should
be monitored. The law of supply and demand must always be
taken into account. There shouldn't be a surplus of inventory
especially if the entrepreneur is selling perishable goods. The
entrepreneur must be knowledgeable about the life span of the
40. products that will be sold. The entrepreneur/manufacturer
must also ensure that there is enough space to store and stock
inventory, depending on storage requirements (e.g., product is
required tobe stored in cold temperature).
41. ACTIVITY
Instruction: In this time of pandemic, people buy only the most needed
products. Identify those basic needs. Find suppliers available in your area
using theformat below.
INGREDIENT
S
SUPPLIER PLACE PRODUCT
SPECIFICATION
PRICE ( Php )
#1. Egg
Anna's Store Minglanilla Small 6.00
Ben's Store Minglanilla Small 8.00
Charlie's Store Minglanilla Small 7.00
#2.
#3.
#3.
42. Assessment
1.What is the asset and the most significant factor in the
production?
A.Machine
B.Method
C.Manpower
2.What is the equivalent term of Process in 4Ms?
A.Material
B.Machine
C.Method
43. 3. Which one does not belong to 4Ms?
A.Method
B.Marketing
C.Manpower
4. Which of the following is not considered as qualification of
the employee?
A.Work experience
B.Curriculum Vitae
C.Educational Background
5. What is the equivalent term of People in 4Ms?
A.Material
B.Machine
C.Manpower
44. 6. What is the term that controls the implementation of the
business plan?
A.Business Operation
B.Bottleneck
C.Distribution Method
7. What is recruitment?
A.Hiring staff
B.Training staff
C.Rewarding staff
8. What purpose of job description classified as specific?
A.Job Title
B.Job Duties
C.Sub Tasks
45. 11. What are activities involved in logistics?
A. Procurement of resources
B. Distribution of products
C. All of the above
12. What is the main purpose of any supply chain in terms of
pleasing customer needs?
A. Profit
B. Expenses
C. Commercial
13. What is the management of the flow of goods?
A.Distribution Method
46. 11. What are activities involved in logistics?
A.Procurement of resources
B.Distribution of products
C.All of the above
12. What is the main purpose of any supply chain in terms of
pleasing customer needs?
A.Profit
B.Expenses
C.Commercial
47. 13. What is the management of the flow of goods?
A.Distribution Method
B.Supply Chain Management
C.Standard Operating Procedure
14. What is SOP stands for?
A.Sale of Point
B.Sales of Product
C.Standard operating Procedure
15. Is outsourcing increases costs of the products?
A.True
B.False