This document provides an overview of a lecture on production and operations management. It begins with introducing the concepts of production management and operations management. It then discusses the historical evolution of the field from scientific management in the early 20th century to a broader focus on both manufacturing and service sectors today. The rest of the document defines key concepts like production systems, operations, and the scope of production and operations management, which includes facilities location, process design, quality control, and other areas.
The document discusses key concepts in operations management (OM) such as managing production of goods and services, the difference between OM and production management, the need for OM, major functions of OM, and examples of OM in companies like PepsiCo, Toyota, and others. It explains that OM aims to conduct all organizational operations efficiently and effectively through functions like procurement, quality management, inventory control, and more. Toyota is highlighted for its use of just-in-time production and flexible operations techniques to minimize costs and adapt to changing demand through efficient OM.
PRODUCTION AND OPERATIONS
MANAGEMENT
-Management function responsible for producing goods & services
-Objectives of production management
-Functions of production management
-Production system & models
This document discusses production and operations management. It begins with definitions of production management and operations management. It then provides a historical overview of the evolution of the field from Adam Smith's specialization of labor to more modern contributions. The rest of the document defines concepts related to production systems including inputs, transformation processes, outputs, and classifications like job shop, batch, mass, and continuous production.
Layout planning determines the optimal physical arrangement of resources to maximize productivity. The document discusses different types of layouts including process, product, group technology, and fixed-position layouts. Product layouts are designed to efficiently produce a specific product in high volumes, while process layouts group similar resources together and fixed-position layouts are used when the product is too large to move.
Production and Operations Management- Chapters 1-8vc_santos
This document provides an overview of operations management. It defines operations management as planning, coordinating, and controlling resources to produce products and services. It discusses the differences between manufacturing and service operations. It then covers major historical developments in operations management from the Industrial Revolution to modern concepts like supply chain management and e-commerce. Finally, it discusses operations strategy and how firms can compete based on factors like cost, quality, time, and flexibility.
This document provides an overview of production and operations management concepts. It defines production and operations management as the set of activities that create value through transforming inputs into outputs. It discusses key organizational functions like marketing, production, finance, and human resources. It also outlines various production systems, manufacturing processes, inventory control techniques, and the role of the production manager in planning, controlling, and improving operations.
This document provides an overview of topics covered in an operations management unit, including production systems, classifications of production systems, operations as a source of competitive advantage, and supply chain trends. It defines key terms like operations management, production systems, job shop production, batch production, and mass production. It also discusses strategic operations decisions, resources of competitive advantage, and frameworks like production possibility frontiers, productive efficiency, and allocative efficiency. Finally, it compares manufacturing and service operations, describes a systems perspective on operations, and outlines factors in make-or-buy decisions and break-even analysis.
The document discusses key concepts in operations management (OM) such as managing production of goods and services, the difference between OM and production management, the need for OM, major functions of OM, and examples of OM in companies like PepsiCo, Toyota, and others. It explains that OM aims to conduct all organizational operations efficiently and effectively through functions like procurement, quality management, inventory control, and more. Toyota is highlighted for its use of just-in-time production and flexible operations techniques to minimize costs and adapt to changing demand through efficient OM.
PRODUCTION AND OPERATIONS
MANAGEMENT
-Management function responsible for producing goods & services
-Objectives of production management
-Functions of production management
-Production system & models
This document discusses production and operations management. It begins with definitions of production management and operations management. It then provides a historical overview of the evolution of the field from Adam Smith's specialization of labor to more modern contributions. The rest of the document defines concepts related to production systems including inputs, transformation processes, outputs, and classifications like job shop, batch, mass, and continuous production.
Layout planning determines the optimal physical arrangement of resources to maximize productivity. The document discusses different types of layouts including process, product, group technology, and fixed-position layouts. Product layouts are designed to efficiently produce a specific product in high volumes, while process layouts group similar resources together and fixed-position layouts are used when the product is too large to move.
Production and Operations Management- Chapters 1-8vc_santos
This document provides an overview of operations management. It defines operations management as planning, coordinating, and controlling resources to produce products and services. It discusses the differences between manufacturing and service operations. It then covers major historical developments in operations management from the Industrial Revolution to modern concepts like supply chain management and e-commerce. Finally, it discusses operations strategy and how firms can compete based on factors like cost, quality, time, and flexibility.
This document provides an overview of production and operations management concepts. It defines production and operations management as the set of activities that create value through transforming inputs into outputs. It discusses key organizational functions like marketing, production, finance, and human resources. It also outlines various production systems, manufacturing processes, inventory control techniques, and the role of the production manager in planning, controlling, and improving operations.
This document provides an overview of topics covered in an operations management unit, including production systems, classifications of production systems, operations as a source of competitive advantage, and supply chain trends. It defines key terms like operations management, production systems, job shop production, batch production, and mass production. It also discusses strategic operations decisions, resources of competitive advantage, and frameworks like production possibility frontiers, productive efficiency, and allocative efficiency. Finally, it compares manufacturing and service operations, describes a systems perspective on operations, and outlines factors in make-or-buy decisions and break-even analysis.
The document defines and describes the components of a production system. A production system combines various inputs like materials, labor, machines, and information and transforms them through a process to produce finished goods and services. The key components are facilities, which include the factory, equipment, and layout, and manufacturing support systems, which encompass how work and machines are organized. The aim of a production system is to provide the right products, in the proper quantities, at the needed time and location, and at a reasonable cost.
This document discusses various methods for measuring productivity in the construction industry. It outlines key factors that influence productivity such as pre-construction activities, resource management, and labor characteristics. It then describes different formulas that can be used to calculate productivity, including comparing the ratio of outputs to inputs or measuring the level of profitability and business efficiency. The document also provides an example of a formula for measuring productivity changes related to material waste.
Operations management involves planning, organizing, and controlling the processes that produce and deliver a company's goods and services. It includes activities like managing resources, designing production processes, and ensuring quality. Operations management aims to reduce costs, increase revenue through customer satisfaction, optimize resource usage, and drive innovation. It transforms various inputs like materials, money, and labor into outputs in the form of goods and services.
The document discusses manufacturing systems and lean manufacturing. It defines a manufacturing system as a collection of integrated equipment and human resources that perform processing and assembly operations on raw materials. It describes the typical input-transformation-output process. Examples of manufacturing systems include single station cells, machine clusters, and automated assembly lines. The key components of manufacturing systems are production machines, material handling systems, computer systems, and human resources. Lean manufacturing aims to eliminate waste from the manufacturing system, such as overproduction, waiting, inventory, transportation, and over-processing. It was pioneered by Toyota to increase efficiency and reduce costs.
The document discusses different types of facility layouts used in manufacturing. It describes production/straight line layouts where machines are arranged sequentially based on production steps. Process/functional layouts group similar machines together. Static layouts keep products stationary while tools and workers move. Cellular layouts create machine "cells" to increase flexibility. The key is arranging equipment and facilities to optimize material flow and minimize handling costs during manufacturing.
This document provides an overview of production and operations management. It discusses key topics such as production planning and control, plant layout, material handling, quality management, and productivity improvement techniques. The roles and responsibilities of production managers are also outlined. Various production systems, inventory control methods, and maintenance strategies are defined.
The presentation provided an overview of facility layout, including definitions, objectives, and types of layouts. The key objectives of a good facility layout are to have the quickest flow of materials at the lowest cost with the least amount of handling. The main types of layouts discussed were process, product, fixed-position, and combination layouts. Advantages of a well-designed facility layout include improved utilization of space, labor, and equipment as well as reduced costs, delays, and accidents. Potential problems in layout include requirements for raw materials, plant location, workforce, and transportation.
Production management involves planning, organizing, and controlling manufacturing activities to produce goods and services. It transforms inputs like raw materials, tools, capital, and human resources into outputs through a production process. The scope of production management includes functions like design, production planning and control, quality control, maintenance, and inventory control. There are different types of production processes and systems based on factors like the industry, scale of production, and nature of transforming inputs into outputs.
The document discusses various aspects of production systems including their characteristics, inputs, outputs, controls, product design process, and process planning. It describes production systems as manufacturing subsystems that design, produce, distribute, and service products. They have specialized functions at different levels and need renovation over time to adapt to changes. The key aspects covered are input-output relationships, types of control like feedback and forward control, objectives and importance of product design, steps in the design process, factors affecting process design decisions, types of process designs, and major process decisions around process choice, vertical integration, resource flexibility, customer involvement, and capital intensity.
The module deals with overview of Production and Operation Management. It highlights the Definition, characteristics and objective of POM, also it focus on Production System.
The document discusses facility location and the process of selecting the best geographic location. It outlines key objectives like reducing costs and coordinating with government policies. The main steps discussed are selecting between domestic or international locations, then choosing a region, locality, and exact site based on factors like resources, market access, transportation and climate. Location analysis techniques covered include location factor rating, center of gravity, load distance, break even analysis, and weighted factor rating. The overall goal is to identify the optimal location for operating facilities.
This document provides an introduction to production and operations management. It defines production/operations management as the process that transforms resources into value-added products/services according to organizational policies. The key difference between production management and operations management is whether the focus is on manufacturing or both manufacturing and services. Components of production and operations management (POM) include efficiency, effectiveness, and value addition. Reasons to study POM include its systematic approach, increasing competitive levels, cross-functional applications, and business/career opportunities.
This document discusses factors to consider when selecting a plant location. It describes key factors like availability of raw materials, proximity to markets, labor supply, and transportation infrastructure. Quantitative techniques for analysis include comparative cost charts, least cost center analysis, break-even charts, and dimensional analysis. Qualitative factors can be evaluated using ranking and weighting methods. The document emphasizes selecting a location that minimizes costs while considering both quantitative and qualitative criteria.
The document discusses facility location planning. It defines facility location as selecting the specific site for establishing a production process. The selection of location is important as it is a long-term decision that impacts costs and profits. Several factors must be considered in choosing a location, including availability of materials, labor, transportation and climate. The document outlines the general procedures for facility location, which includes preliminary screening of options followed by qualitative and quantitative analysis of remaining alternatives to determine the best site. Behavioral factors like cultural differences and job satisfaction that also influence location selection are also discussed.
This document discusses plant location and the factors that should be considered when selecting a site for a new plant. It defines plant location as choosing a region and specific site for setting up a factory or business. An ideal location minimizes production and distribution costs. Key factors that influence plant location decisions include the supply of raw materials, proximity to markets, available labor, transportation access, and the supply of power, fuel and water. Additional secondary factors include natural/climate conditions, political environment, government incentives, and historical or personal preferences. The document emphasizes that plant location is a strategic decision that requires a thorough analysis of demographic, trade area, competitive, traffic and site economic factors to select the best site.
Lean production is an approach that focuses on eliminating waste to ensure quality. It involves doing simple things well, continuous improvement, and involving employees. The goal is to cut costs by reducing various types of waste like overproduction, waiting times, unnecessary transport and motion. Key aspects of lean production include just-in-time delivery from suppliers, cell production, simultaneous engineering, time-based management and continuous improvement through kaizen. Effective lean production requires good supplier relations, skilled employees and a culture of quality and change.
This document provides an overview of production management. It defines production management and discusses its objectives of producing the right quality, quantity, time, and cost. It describes different types of production systems like job shop, batch, mass, and continuous production. It also covers topics like product and process design, plant layout, production planning and control, and quality control. The key aspects and objectives of production management are to efficiently convert inputs into high quality outputs that meet customer needs.
Pengantar manajemen produksi (pertemuan 1)Khoirul Sari
This document discusses production management and operations management. It defines production management as the process of planning, organizing, directing and controlling production activities to transform inputs into valuable outputs according to company policies. The objectives of production management are to produce quality products in the right quantities, on time, and at the minimum cost. Operations management involves planning, organizing, and controlling the conversion process. Models are used to help operations managers make decisions and solve problems related to capacity, production scheduling, and facility location.
This document provides an overview of operations management. It defines operations management and discusses key concepts like the production system, transformation process, and differences between products and services. The document also covers the historical development and current issues in operations management, as well as operations strategy in manufacturing and services. It discusses functions of the operations management department like materials selection, methods, machines/equipment selection, estimating, loading/scheduling, routing, dispatching, expediting, inspection, and evaluation.
The document defines and describes the components of a production system. A production system combines various inputs like materials, labor, machines, and information and transforms them through a process to produce finished goods and services. The key components are facilities, which include the factory, equipment, and layout, and manufacturing support systems, which encompass how work and machines are organized. The aim of a production system is to provide the right products, in the proper quantities, at the needed time and location, and at a reasonable cost.
This document discusses various methods for measuring productivity in the construction industry. It outlines key factors that influence productivity such as pre-construction activities, resource management, and labor characteristics. It then describes different formulas that can be used to calculate productivity, including comparing the ratio of outputs to inputs or measuring the level of profitability and business efficiency. The document also provides an example of a formula for measuring productivity changes related to material waste.
Operations management involves planning, organizing, and controlling the processes that produce and deliver a company's goods and services. It includes activities like managing resources, designing production processes, and ensuring quality. Operations management aims to reduce costs, increase revenue through customer satisfaction, optimize resource usage, and drive innovation. It transforms various inputs like materials, money, and labor into outputs in the form of goods and services.
The document discusses manufacturing systems and lean manufacturing. It defines a manufacturing system as a collection of integrated equipment and human resources that perform processing and assembly operations on raw materials. It describes the typical input-transformation-output process. Examples of manufacturing systems include single station cells, machine clusters, and automated assembly lines. The key components of manufacturing systems are production machines, material handling systems, computer systems, and human resources. Lean manufacturing aims to eliminate waste from the manufacturing system, such as overproduction, waiting, inventory, transportation, and over-processing. It was pioneered by Toyota to increase efficiency and reduce costs.
The document discusses different types of facility layouts used in manufacturing. It describes production/straight line layouts where machines are arranged sequentially based on production steps. Process/functional layouts group similar machines together. Static layouts keep products stationary while tools and workers move. Cellular layouts create machine "cells" to increase flexibility. The key is arranging equipment and facilities to optimize material flow and minimize handling costs during manufacturing.
This document provides an overview of production and operations management. It discusses key topics such as production planning and control, plant layout, material handling, quality management, and productivity improvement techniques. The roles and responsibilities of production managers are also outlined. Various production systems, inventory control methods, and maintenance strategies are defined.
The presentation provided an overview of facility layout, including definitions, objectives, and types of layouts. The key objectives of a good facility layout are to have the quickest flow of materials at the lowest cost with the least amount of handling. The main types of layouts discussed were process, product, fixed-position, and combination layouts. Advantages of a well-designed facility layout include improved utilization of space, labor, and equipment as well as reduced costs, delays, and accidents. Potential problems in layout include requirements for raw materials, plant location, workforce, and transportation.
Production management involves planning, organizing, and controlling manufacturing activities to produce goods and services. It transforms inputs like raw materials, tools, capital, and human resources into outputs through a production process. The scope of production management includes functions like design, production planning and control, quality control, maintenance, and inventory control. There are different types of production processes and systems based on factors like the industry, scale of production, and nature of transforming inputs into outputs.
The document discusses various aspects of production systems including their characteristics, inputs, outputs, controls, product design process, and process planning. It describes production systems as manufacturing subsystems that design, produce, distribute, and service products. They have specialized functions at different levels and need renovation over time to adapt to changes. The key aspects covered are input-output relationships, types of control like feedback and forward control, objectives and importance of product design, steps in the design process, factors affecting process design decisions, types of process designs, and major process decisions around process choice, vertical integration, resource flexibility, customer involvement, and capital intensity.
The module deals with overview of Production and Operation Management. It highlights the Definition, characteristics and objective of POM, also it focus on Production System.
The document discusses facility location and the process of selecting the best geographic location. It outlines key objectives like reducing costs and coordinating with government policies. The main steps discussed are selecting between domestic or international locations, then choosing a region, locality, and exact site based on factors like resources, market access, transportation and climate. Location analysis techniques covered include location factor rating, center of gravity, load distance, break even analysis, and weighted factor rating. The overall goal is to identify the optimal location for operating facilities.
This document provides an introduction to production and operations management. It defines production/operations management as the process that transforms resources into value-added products/services according to organizational policies. The key difference between production management and operations management is whether the focus is on manufacturing or both manufacturing and services. Components of production and operations management (POM) include efficiency, effectiveness, and value addition. Reasons to study POM include its systematic approach, increasing competitive levels, cross-functional applications, and business/career opportunities.
This document discusses factors to consider when selecting a plant location. It describes key factors like availability of raw materials, proximity to markets, labor supply, and transportation infrastructure. Quantitative techniques for analysis include comparative cost charts, least cost center analysis, break-even charts, and dimensional analysis. Qualitative factors can be evaluated using ranking and weighting methods. The document emphasizes selecting a location that minimizes costs while considering both quantitative and qualitative criteria.
The document discusses facility location planning. It defines facility location as selecting the specific site for establishing a production process. The selection of location is important as it is a long-term decision that impacts costs and profits. Several factors must be considered in choosing a location, including availability of materials, labor, transportation and climate. The document outlines the general procedures for facility location, which includes preliminary screening of options followed by qualitative and quantitative analysis of remaining alternatives to determine the best site. Behavioral factors like cultural differences and job satisfaction that also influence location selection are also discussed.
This document discusses plant location and the factors that should be considered when selecting a site for a new plant. It defines plant location as choosing a region and specific site for setting up a factory or business. An ideal location minimizes production and distribution costs. Key factors that influence plant location decisions include the supply of raw materials, proximity to markets, available labor, transportation access, and the supply of power, fuel and water. Additional secondary factors include natural/climate conditions, political environment, government incentives, and historical or personal preferences. The document emphasizes that plant location is a strategic decision that requires a thorough analysis of demographic, trade area, competitive, traffic and site economic factors to select the best site.
Lean production is an approach that focuses on eliminating waste to ensure quality. It involves doing simple things well, continuous improvement, and involving employees. The goal is to cut costs by reducing various types of waste like overproduction, waiting times, unnecessary transport and motion. Key aspects of lean production include just-in-time delivery from suppliers, cell production, simultaneous engineering, time-based management and continuous improvement through kaizen. Effective lean production requires good supplier relations, skilled employees and a culture of quality and change.
This document provides an overview of production management. It defines production management and discusses its objectives of producing the right quality, quantity, time, and cost. It describes different types of production systems like job shop, batch, mass, and continuous production. It also covers topics like product and process design, plant layout, production planning and control, and quality control. The key aspects and objectives of production management are to efficiently convert inputs into high quality outputs that meet customer needs.
Pengantar manajemen produksi (pertemuan 1)Khoirul Sari
This document discusses production management and operations management. It defines production management as the process of planning, organizing, directing and controlling production activities to transform inputs into valuable outputs according to company policies. The objectives of production management are to produce quality products in the right quantities, on time, and at the minimum cost. Operations management involves planning, organizing, and controlling the conversion process. Models are used to help operations managers make decisions and solve problems related to capacity, production scheduling, and facility location.
This document provides an overview of operations management. It defines operations management and discusses key concepts like the production system, transformation process, and differences between products and services. The document also covers the historical development and current issues in operations management, as well as operations strategy in manufacturing and services. It discusses functions of the operations management department like materials selection, methods, machines/equipment selection, estimating, loading/scheduling, routing, dispatching, expediting, inspection, and evaluation.
1. INTRODUCTION TO OPERATIONS MANAGEMENT.pptxIvanIISeballos
The document provides an overview of operations management. It discusses the three major business functions of marketing, operations, and finance. It defines operations management as the management of systems or processes that create goods and/or provide services. Key aspects of operations management discussed include value-added, process management, supply chain management, variations in processes, and quantitative and qualitative decision-making approaches. The document also outlines how operations management has evolved with developments like e-commerce, Six Sigma, agility, and lean systems.
The document provides an overview of production and operations management. It discusses key topics such as:
- The scope and functions of operations management in business organizations.
- The importance of studying production and operations management due to its role in all business functions and high number of related jobs.
- Decisions made by operations managers that affect strategy, operations, and control of the organization.
- Historical evolution and trends influencing modern operations management like advances in technology, quality improvement, and globalization.
production and operations management(POM) Complete note kabul university
The Introduction to POM, Scope, Role, and Objectives of POM, Operations Mgt. – Concept; Functions
Product Design and its characteristics;
Product Development Process, Product Development Techniques.
This document provides an overview of operations management concepts through a lesson outline and objectives. It defines operations management as transforming inputs into outputs through processes. Key points include:
1. The transformational model shows how resources are transformed through processes to create goods and services.
2. The scope of operations management involves designing, planning, controlling, and improving transformation systems.
3. Competitive priorities like cost, quality, flexibility influence the operations strategy and how an organization achieves competitive advantage.
4. Operations managers are responsible for efficient resource management, cost control, quality assurance, and developing strategic and operational objectives. Strong leadership, analytical, and communication skills are required.
Operations management involves planning, organizing, and controlling the processes that convert inputs into finished goods and services. It includes scheduling work, assigning resources, managing inventories, assessing quality, and making process decisions. The overall goal is to optimize productivity and efficiency. Operations management covers a wide range of activities from determining facility locations to implementing quality control systems and supply chain management. It aims to produce the desired outputs while meeting organizational goals like effectiveness, efficiency, and adaptability.
Fundamentals of managing business operationDeepika ..
This document provides an overview of fundamentals of managing business operations. It discusses key concepts such as operations management, production management, value-added activities, productivity, competitive priorities of cost, quality, time and flexibility, and core competencies. Operations management involves transforming inputs into required outputs or services. Production management focuses on manufacturing products while operations management also applies to service organizations. The goal is to add value and create outputs worth more to consumers.
Module-1 Introduction to Operations ManagementNirajMishra67
This document provides an introduction to operations management. It defines operations as the part of a business responsible for producing goods or services. Operations management is defined as the management of systems or processes that create goods and/or provide services. It also discusses the differences between goods and services, and provides examples of each. Finally, it introduces key concepts in operations management including supply chains, inputs and outputs in production processes, and the importance of production functions.
Introduction To Operations Management.pptxRiadHasan25
This document provides an overview of operations management. It discusses key topics such as (1) the meaning and functions of operations management, (2) differentiating features of production systems like degree of standardization and type of operation, and (3) the scope of operations management including forecasting, quality control, and more. It also examines the roles and decision-making processes of operations managers as well as historical evolutions and recent trends in the field.
Innovation is a key element for companies in providing growth and for increasing results. Innovation means a new way of doing business; it may refer to incremental, radical and/or revolutionary changes in extracting value for a business through a fundamental change in approach to a market, a technology, or a process. A company that overlooks new and better ways of doing business will eventually lose customers to another competitor that has found a better way.
However innovations as any other aspect of a business require an investment and investment is about the future. Sometimes you invest in a future that plays by the same rules as today. Other investment is about a new future that plays by new rules. If you make investment decisions on an extrapolated new future based on the today’s rules then you can make costly mistakes.
Investment decisions can require complex analyses. To make them easier, managers often use tools to help with the financial analysis. The problem with these tools is that they often value innovation and non innovation in the same terms. They encourage managers to make unfair demands on returns on investment for internal innovation projects.
We believe that creativity is a process not an accident (“chance prefers the prepared mind”), although it’s often tempting to believe that individuals are creative or non-creative. Creative people also love to play around with the ideas that they collect. For them everything is connected – part of an overall pattern. Old ideas are moved around, combined, squeezed, and stretched to make new ideas.
Innovation within businesses is achieved in many ways. One way involves the use of creativity techniques. These are methods that encourage original thoughts and divergent thinking (e. g. brainstorming, morphological analysis, TRIZ). New ideas that have been generated by the use of creativity techniques have to be structured and evaluated. In order to complete the innovation process the selected promising ideas have to be deployed into practice.
For this reason we have developed a structured methodology that supports the ongoing evaluation of innovations throughout the prioritization, piloting, and deployment lifecycle We make use of process performance analyses as an input to three levels of statistical thinking that support the innovation process from identified needs to pilot results.
The first step is collect together old ideas – as well as existing facts. You need to know as much about the world in general and get a solid, deep working knowledge of the business situation that underlies the need for a new idea. This may seem daunting or unnecessary, but facts are the raw material for innovation. And because of changes to markets, competition, regulation, and technologies, “old ideas” previously dismissed may, perhaps after further adaptation, take on renewed promise.
It is important to approach innovation and its evaluation through a broad appreciation for causality: al
Production and Operations Management
Product Vs Service
Concept of Production and OM
Functions /Scope of POM
Operation Strategy
Transformation Process
Product Design & Product Process
History of POM
Issues in POM
This document provides information about an executive PGDM course in operations management. It outlines the course outcomes, modules, topics to be covered, books recommended, and functional areas of management. The first module introduces key concepts like the importance and functions of operations, relationships between operations and other functions, and different production systems. It also discusses the differences between manufacturing and service operations, and defines productivity and productivity measurement.
Operation management deals with managing the transformation of inputs into outputs through production processes and supply chains. It aims to deliver the right quality and quantity of goods or services, at the right time and predetermined cost. The scope of operation management includes activities related to production system design, analysis, planning, control, quality control, purchasing, and more. Operation management has evolved from scientific management in the 1930s to modern approaches like lean manufacturing, supply chain management, and outsourcing. Managers must enhance productivity through efficiency while addressing ethical challenges like product safety, environmental stewardship, and community impact.
The document provides an introduction to operations management concepts including defining operations, products, services, and supply chains. It discusses different types of production systems and strategies including mass production, lean production, and agile manufacturing. The document also covers topics like facilities layout, location planning, quality management, and environmental sustainability in operations. It emphasizes the importance of operations management in business strategy and competitiveness.
Operational management aims to regulate all company activities to run effectively and efficiently. It involves planning, organizing, leading, and controlling various resources like raw materials, workers, machinery to transform inputs into outputs. The objectives of operational management include improving efficiency, productivity, quality and reducing costs and processing time. It is an important management system that must exist in all organizations to help achieve goals and produce goods and services that meet consumer needs.
OPERATIONS MANAGEMENT- Full Slides.pptxThusharaVinay
This document provides an overview of operations management. It defines key terms like production management and operations management. It outlines the 5 Ps of operations management - product, processes, plant, programmes, personnel. It discusses the importance, objectives, and scope of operations management. It also describes different types of production systems like job shop production, flow shop, batch manufacturing, continuous production systems. It provides a system view of operations management and discusses operations strategy.
Operations management involves managing the processes that transform inputs into outputs to create goods and services. It encompasses functions like production planning, inventory control, and quality assurance. The chapter introduces operations management and discusses key topics like:
- The differences between manufacturing and service operations
- The role of the operations manager in decisions about system design and operation
- Using models, metrics, and other quantitative and qualitative approaches in decision-making
- Considering trade-offs, priorities, and ethics in operations management.
The evolution of the field is summarized, from the Industrial Revolution to more modern approaches like scientific management, human relations, and management science models.
Operations management (OM) involves managing processes and systems involved in producing goods and services. Key OM activities include forecasting demand, capacity planning, scheduling, supply chain management, quality assurance, facility location planning, and project management. OM is critical for all organizations as it is involved in at least 50% of all jobs. An operations strategy outlines decisions around products, processes, resources, quality standards, costs, schedules, and delivery times. It involves positioning production systems and setting product/service and production process/technology plans. Productivity and improving it is an important focus of OM.
Operational ManagementBookhapter 1. Introduction to OM (1).pptxMdFaisalIslamShabuj
This document provides information about an Operations Management course. It includes the course name, code, classrooms, teacher, reference books, objectives, and an introduction.
The course focuses on basic OM concepts and techniques for efficient and effective operations, with emphasis on process improvement and supply chain management. Topics covered include operations strategy, product and service design, process design, capacity planning, quality management, and project management.
The introduction defines operations management as the direction and control of processes that transform inputs into products and services. It discusses the strategic role of OM in creating competitive advantages and the interdependence of OM with other business functions.
Similar to Lecture 1 Production and operation management.pptx (20)
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...
Lecture 1 Production and operation management.pptx
1. Lecture 1: Introduction to Production
and Operation Management
Course No.: ADS 507
Course Title: Production and Operation Management
2. Outline of the Class
• Introduction
• Historical Evolution of Production and
Operations Management
• Concept of Production
– Production System
– Production Management
– Operating System
• Operations Management
• Managing Global Operations
• Scope of Production and Operations
Management
3. INTRODUCTION
• Production/operations management is the process,
which combines and transforms various resources used
in the production/operations subsystem of the
organization into value added product/services in a
controlled manner as per the policies of the
organization.
• Therefore, it is that part of an organization, which is
concerned with the transformation of a range of inputs
into the required (products/services) having the requisite
quality level.
4. INTRODUCTION
• The set of interrelated management activities,
which are involved in manufacturing certain
products, is called as production
management.
• If the same concept is extended to services
management, then the corresponding set of
management activities is called as operations
management.
5. HISTORICAL EVOLUTION OF PRODUCTION
AND OPERATIONS MANAGEMENT
• For over two centuries operations and production
management has been recognized as an important factor
in a country’s economic growth.
• The traditional view of manufacturing management
began in eighteenth century when Adam Smith
recognized the economic benefits of specialization of
labour.
• In the early twentieth century, F.W. Taylor implemented
Smith’s theories and developed scientific management.
From then till 1930, many techniques were developed
prevailing the traditional view.
7. • Production management becomes the acceptable term
from 1930s to 1950s.
• As F.W. Taylor’s works become more widely known,
managers developed techniques that focused on
economic efficiency in manufacturing.
• Workers were studied in great detail to eliminate
wasteful efforts and achieve greater efficiency.
• At the same time, psychologists, socialists another social
scientists began to study people and human behavior in
the working environment.
• In addition, economists, mathematicians, and computer
socialists contributed newer, more sophisticated
analytical approaches.
HISTORICAL EVOLUTION OF PRODUCTION
AND OPERATIONS MANAGEMENT
8. • With the 1970s emerges two distinct changes in
our views. The most obvious of these, reflected in
the new name operations management was a
shift in the service and manufacturing sectors of
the economy.
• As service sector became more prominent, the
change from ‘production’ to ‘operations’
emphasized the broadening of our field to service
organizations.
• The second, more suitable change was the
beginning of an emphasis on synthesis, rather
than just analysis, in management practices.
HISTORICAL EVOLUTION OF PRODUCTION
AND OPERATIONS MANAGEMENT
9. CONCEPT OF PRODUCTION
• Production function is that part of an organization,
which is concerned with the transformation of a
range of inputs into the required outputs (products)
having the requisite quality level.
• Production is defined as “the step-by-step
conversion of one form of material into another
form through chemical or mechanical process to
create or enhance the utility of the product to the
user.” Thus production is a value addition process.
At each stage of processing, there will be value
addition.
• Buffa defines production as ‘a process by which
goods and services are created’.
10. Inputs
• Men
• Materials
• Machines
• Information
• Capital
Transformation Process
• Product design
• Product Planning
• Product Control
• Maintenance
Outputs
• Products
• Services
Continuous
• Inventory
• Quality
• Cost
Schematic Production System
Environment
Feedback Information
11. • The production system has the following
characteristics:
1. Production is an organized activity, so
every production system has an objective.
2. The system transforms the various inputs
to useful outputs.
3. It does not operate in isolation from the
other organization system.
4. There exists a feedback about the
activities, which is essential to control and
improve system performance.
PRODUCTION SYSTEM
12. Production Management
• Production management is a process of
planning, organizing, directing and controlling
the activities of the production function.
• It combines and transforms various resources
used in the production subsystem of the
organization into value added product in a
controlled manner as per the policies of the
organization.
13. Production Management
• E.S. Buffa defines production management as,
“Production management deals with decision
making related to production processes so that the
resulting goods or services are produced
according to specifications, in the amount and by
the schedule demanded and out of minimum cost.”
14. 5 P`s of Production Management
1. PRODUCTS.
2. PLANT.
3. PROCESS.
4. PROGRMS.
5. PEOPLE.
When this five element integrated a successful
production management takes place.
15. OBJECTIVE OF PRODUCTION MANAGEMENT
1. Right Quality.
2. Right Quantity.
3. Right Time.
4. Right Manufacturing or Pre-established Cost.
• Other objectives are :
1. Machinery and Equipment.
2. Materials.
3. Manpower.
4. Supporting Service.
16. Concept of Operations
• An operation is defined in terms of the mission
it serves for the organization, technology it
employs and the human and managerial
processes it involves.
• Operations in an organization can be
categorized into manufacturing operations and
service operations.
17. Distinction between Manufacturing
Operations and Service Operations
Sl.
No.
Manufacturing Service
1 Tangible product Intangible product
2 Product can be inventoried Product cannot be inventoried
3 Low customer contact High customer contact
4 Longer response time Short response time
5 Capital intensive Labor intensive.
6 Outputs that customers
consume overtime
Outputs that customers
consumes immediately
7 Jobs that use less labour
and more equipment
Jobs that use more labour and
less equipment,
19. Operations Management
• Operations management is defined as the
design, operation, and improvement of the
systems that create and deliver the firm’s primary
products and services.
• Key of OM Concepts:
Efficiency - Doing something at the lowest
possible cost.
Effectiveness - Doing the right things to
create the most value for the organization.
Value - Quality divided by price.
20. Why Study Operations Management?
Operations
Management
Business Education/
Career Opportunities
Systematic Approach
to Org. Processes
Increase Competitive
Advantage/Survival
Cross-Functional
Applications
3
21. Operations Decision Making
People Plants Parts Processes
Planning and Control
Materials &
Customers
Products &
Services
Input Output
Operations Management
Marketing Strategy
Finance Strategy
Marketplace
Corporate Strategy
Operations Strategy
The Transformation Process (value adding) 4
23. A Framework for Managing Operations
Planning
• Operation Strategies
• Forecasting
• Product & process
choices
• Operation capacity
• Location
• Layout
Organizing
• Job design
• Production standards
• Operation standards
• Work management
• Project management
Conversion Process
Controlling
• Inventory
• Material
• Quality
Models Behavior
Operation managers are concerned with planning, organizing, and controlling the
activities which affect human behaviour through models.
24. Operation Management
• PLANNING: Activities that establishes a course of
action and guide future decision-making is planning.
• ORGANIZING: Activities that establishes a structure
of tasks and authority.
• CONTROLLING: Activities that assure the actual
performance in accordance with planned performance.
• BEHAVIOUR: Operation managers are concerned
with how their efforts to plan, organize, and control
affect human behavior.
• MODELS: As operation managers plan, organise, and
control the conversion process, they encounter many
problems and must make many decisions.
25. Objectives of operation management
• The twin objectives of operation management
1. The customer service objective
To provide agreed/adequate levels of customer
service(and hence customer satisfaction) by
providing goods or services with the right
specification, at the right cost and at the right time.
2. The resource utilization objective
To achieve adequate levels of resource
utilization (or productivity) e.g., to achieve agreed
levels of utilization of materials, machines and
labour.
26. Scope Of Production And Operations
Management
1. Location of facilities
2. Plant layouts and material handling
3. Product design
4. Process design
5. Production and planning control
6. Quality control
7. Materials management
8. Maintenance management.
27. Scope Of Production And Operations
Management
Location of Facilities
• Location of facilities for operations is a long-term
capacity decision which involves a long term
commitment about the geographically static factors
that affect a business organization.
• It is an important strategic level decision-making
for an organization.
• It deals with the questions such as ‘where our main
operations should be based?’
• The selection of location is a key-decision as large
investment is made in building plant and machinery.
28. Plant Layout and Material Handling
• Plant layout refers to the physical arrangement
of facilities.
• It is the configuration of departments, work
centres and equipment in the conversion
process.
• The overall objective of the plant layout is to
design a physical arrangement that meets the
required output quality and quantity most
economically.
29. • ‘Material Handling’ refers to the ‘moving of
materials from the store room to the machine
and from one machine to the next during the
process of manufacture’.
• It is also defined as the ‘art and science of
moving, packing and storing of products in any
form’.
30. Product Design
• Product design deals with conversion of ideas
into reality. Every business organization have
to design, develop and introduce new products
as a survival and growth strategy.
• Developing the new products and launching
them in the market is the biggest challenge
faced by the organizations.
31. Process Design
• Process design is a macroscopic decision-
making of an overall process route for
converting the raw material into finished
goods.
• These decisions encompass the selection of a
process, choice of technology, process flow
analysis and layout of the facilities.
32. Production Planning and Control
• Production planning and control can be
defined as the process of planning the
production in advance, setting the exact route
of each item, fixing the starting and finishing
dates for each item, to give production orders
to shops and to follow up the progress of
products according to orders.
33. Materials Management
• Materials management is that aspect of
management function which is primarily
concerned with the acquisition, control and use
of materials needed and flow of goods and
services connected with the production process
having some predetermined objectives in view.
34. • Maintenance Management
• In modern industry, equipment and machinery
are a very important part of the total
productive effort.
• Therefore, their idleness or downtime becomes
are very expensive. Hence, it is very important
that the plant machinery should be properly
maintained.
35. Quality Control
• Quality Control (QC) may be defined as ‘a
system that is used to maintain a desired level
of quality in a product or service’.
• It is a systematic control of various factors that
affect the quality of the product.
• Quality control aims at prevention of defects at
the source, relies on effective feed back system
and corrective action procedure.