Concept of inventory, need for inventory, types of inventory, Seasonal, Decoupling, Cyclic, Pipeline, Safety, Implications of Inventory Control Methods Inventory Costs: Concept & Behavior of Ordering cost, Carrying cost & Shortage cost Basic EOQ Model & EOQ with Discount
the global environment and operations strategy Operation managementgharaibeh g
Operation management the global environment and operations strategy the global environment and operations strategy Operation management the global environment and operations strategy Operation management the global environment and operations strategy Operation management
Concept of inventory, need for inventory, types of inventory, Seasonal, Decoupling, Cyclic, Pipeline, Safety, Implications of Inventory Control Methods Inventory Costs: Concept & Behavior of Ordering cost, Carrying cost & Shortage cost Basic EOQ Model & EOQ with Discount
the global environment and operations strategy Operation managementgharaibeh g
Operation management the global environment and operations strategy the global environment and operations strategy Operation management the global environment and operations strategy Operation management the global environment and operations strategy Operation management
Lean system in services industry presentation ahmed adelAhmed Adel
Lean Systems is described as a managerial philosophy which enhances the value perceived by the customers, by adding product and/or service features and by continuously removing non value added activities (i.e. wastes), which are concealed in any kind of process.
To reduce waste, the lean manufacturing is capitalizing on various tools at its disposal including regular process review.
In particular the five Lean principles proposed , these 5 principles are Define Value, Value stream, Flow, Pull and perfection.
includes the followingBusiness Case InvestigationIdenti.docxannettsparrow
includes the following:
Business Case Investigation
Identify 4 employees to interview to support business analysis. For each employee, state the topic(s) used for questioning. The interview topics and responses will be used to influence future design.
A possible use case diagram for making an appointment and verifying parts availability
Identify the users of the system and requests into and out of the system.
Implementation resources needed for the project
Identify people and hardware. Human resources may include internal or external resources.
I am delighted to announce that Emily Johns will be starting at Appliance Warehouse today! Emily will be undertaking the role of Service Manager and will be the force behind creating our new service department.
Emily comes to us with 25 years of experience in the service repair industry. Emily began her career as a service technician and quickly moved through the ranks to the first female service manager in ABC Appliance Service Company's history. After 17 years, she went to work for Acme Appliance Repair. Over the last 8 years, the revenue for Acme increased by 200% after being stagnant for the preceding 5 years
Our new service manager starts work today! This is great news! As our business starts to expand, we must move our software project along.
need to talk to some of our employees to better understand the functionality and requirements for the proposed system. This is important because they are the key stakeholders of the system. list of employees who will want to interview. learn the process for scheduling an appliance repair appointment and how the parts are obtained for those repair visits. Also, it is important to understand what reports that managers are hoping to extract from the new system. I find it is helpful to write down questions prior to your meetings as to not forget the topics that you want to cover.
My suggestion is at least 10 questions per person prior to the meeting. Make sure to use open-ended questions (at least 7 questions) to get the employees talking. Also use closed response and range of response questions. I find that each type of question can provide valuable information and are quite useful in requirements gathering.
Please send the questions to me for at least two of the interviews.
We have previously used both the Joint Application Development technique and the Rapid Application Development technique. However, many colleagues of mine swear by the agile technique. Each of these methodologies offer up some great advantages. Since we need to get this project done as quickly as possible, which of these techniques should be used? I want to ensure that we've created software that will handle all of our users' requirements and that it is a robust system
I almost forgot to mention to also send a questionnaire out to the users of the proposed system.Should it be sent out to all employees or as a stratified or systematic sample?
18 hours ago
department in or.
A ASSIGNMENT on PRODUCTION AND OPERATIONS MANAGEMENT
Q. Prepare a worksheet of operation activities that Amit should inquire about this summer?
Q.To manage the firm , how much does Amit need to know about operations ? WHY?
Q. What are the problems do you expect Amit to encounter this summer – both at Khana Khazana – on wheels and at other institutions.?
Q.If you were Amit , what would you do ? Why?
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
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Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
2. Operations management is about delivering products
and services to customers to meet or surpass their
expectations. It is designing, developing, and executing
the Enterprise Delivery System (EDS), from sourcing
of the necessary input to the transformation of these
input into the final output which, in turn assure the
intended outcome of delighting the customers.The
final output, which come in the form of goods or
services (or both), must carry all the features and
attributes that customers are looking for.
3. All operations managers must, therefore, begin with the
customer's wants and desires in mind.These wants and
desires can be classified into three customer outcome
expectations:
◦(1) quality expectations;
◦(2) delivery expectations; and
◦ (3) price expectations.
4. Thus, the customers' quality, delivery, and price (QDP)
expectations are crucial to the operations function.
5. For some products, especially industrial goods, the
exact technical specifications demanded by the
customers become the quality parameters.
Industrial customers will surely specify the exact
size, weight, strength, color, shape, chemical
composition, and performance level of the products
that they want to purchase. Industrial customers are
also operating under strict production schedules.
6. Therefore, they will demand some regularity in the
delivery of the products so that they can practice
"just-in-time" production. Industrial customers are
also competing in the global marketplace. Hence,
they have alternative global suppliers who can
provide relatively lower prices.
7. Thus, price expectations become important. For
other products or services, especially customized
orders, the Quality, Delivery, and Price expectations of
customers might differ from order to order,
depending on their preferences.Take the example of a
movie actress who usually has her hair serviced by her
favorite hairstylist. Depending on the occasion she is
attending and the mood she is in, she would be
specifying a different style and treatment for her hair.
Her QDP expectations may change from occasion to
occasion.
8. Thus, the customers' quality, delivery, and price
expectations necessarily define the EDS.
9. EDS starts from the Input (resources mobilized),
proceeds to theThroughput (or the transformation
process where input is converted into output) and
produces the Output (the product).The output is
then marketed to the customers (in the case of
goods) or experienced by the customers (in the case
of services).The customer satisfaction level, revenues
generated, and the profits realized from the
transactions are the customer, market, and financial
outcomes of the EDS.
10. The Six Ms of Operations
◦The six Ms of the operations function cover
the input portion of the EDS Design
Framework.To better illustrate how the six Ms
work across the EDS Design Framework
11. Customers Outcomes Resources
Transformation Products Marketing and
Customer Mobilized Process Customer.
Servicing Expectations • Money
Conversion of Goods made or Services
rendered Marketing Program • Quality
Input into Output • Delivery • Men Service
Level Experience • Price • Machines Market
• Materials Expectations • Methods •
Revenues/Sales • Market Share •
Management • Market Reach Finance
Expectations • Profits • Return on
Investment
12. The input is composed of six Ms: Money,
Manpower, Management, Methods,
Materials, and Machinery.These six Ms are
transformed into the right output through
a highly productive system, meaning one
with high efficiency, economy, and
effectiveness.The transformation process is
called theThroughput System.
13. The first M, that is, Money should flow
through theTransformation Process
before (or just in time) as the five
other Ms are needed.
14. The second M, that is Management
should also come ahead of the other
Ms in order to design and develop the
transformation process.
15. technology for the transformation process
should have already been chosen by the EDS
designer and developer.This technology comes
in the form of hardware (i.e., all the machinery
and equipment) and software (i.e., all the
operating systems and work methods).This
gives us the two additional Ms: Machinery and
Methods.The technology will likewise dictate
the last two Ms: Materials and Manpower.
Materials are the input that must be converted
to the final output. Manpower enables the
entire transformation process to operate by
16. Aside from the choice of technology,
the designer and developer of the
transformation process should also
determine the organizational modality
of the Enterprise Delivery System.
17. The organizational modality specifies
what parts of the EDS would be
implemented by the enterprise itself
and what parts would be outsourced or
subcontracted.
18. external entities will accomplish particular
work processes and under what legal
arrangements or contracts. Organizational
modality will also define the precise
relationships between and among the different
departments, divisions, and sections of the
enterprise as goods and services are being
produced. It will stipulate the terms of
reference between the enterprise and its
organizational network of subsidiaries,
subcontractors, franchisees, affiliates, or
strategic allies.
19. In summary, therefore, the
technology chosen and the
organizational modality selected will
establish and operationalize the Input-
Throughput-Output continuum.
20. The Nine Critical Sub-Processes or Sub-
Systems in theTransformation Process
◦The transformation process or throughput
system is what differentiates a well-
managed from a poorly-managed EDS.
There are nine critical sub-processes or
sub-systems that must be managed well in
the transformation process.
21. Technology Application and
Utilization
◦ The enterprise managers and technicians must understand how
the technology works and how it should be properly utilized.The
technology provider should be tasked to transfer all the relevant
technical and procedural information, train the key operators of
the technology, provide after-sales and maintenance services, supply
spare parts, and continue giving advisory services. If the technology
being applied and utilized is quite common and known to many,
then there will probably be no technology contracts with the
suppliers.
22. The OperatingWork Flow (OWF)
◦should follow the rationale of the technology bre
being adopted and used. It is the step-by-step
process of sourcing and storing the input, lent
converting these input into output and delivering
the output to the customers.Two lion guiding
principles should dictate the OWE
23. 1.The OWF must be very efficient in
terms of time, movement, and utilization
pees of resources.
◦ Long waiting times, lag times, down times, and wasted times ton should
be avoided.There should be as little distance as possible between steps
This of the sequential work process.The movement of people and
materials should ent) be kept to the minimum without sacrificing the
quality of the product or the two service. In general, inventory levels
should be kept as low as possible.There two should be minimal reworks
and returns.The former disrupts the workflow anal while the latter
negates whatever speed or movement efficiencies have been / the
attained. Good operations flow mapping, good factory or service shop
layout, and good standardization of work processes would serve the
operations manager well.
24. 2.The OWF must be balanced
capacity-wise.
◦ There should not be significant disparities in the capacity
of each step in the process. Otherwise, the steps with
very little capacity would create operating bottlenecks
and limit the overall production of the expected output.
That is why many operations managers want a balanced
production line.The entrepreneur should accept a
reduction in overall capacity caused by difficult products
if they would generate substantially more profits than
the easier products.
25. Layouting
◦ The operating work flow must translate into an appropriately-designed and executed
physical layout of the factory or service shop.
◦ The space available for operations must be able to accommodate all the machinery
and equipment, the inventory of raw materials, work-in-process and finished goods,
and the operating and quality control personnel. For service shops, there should be
adequate space for holding customers waiting to be served, customers being served,
and customers being processed for payment.The dimensions of the service facility
should be configured correctly to provide enough "elbow room" or human space to
serve the customers comfortably and expeditiously.The working environment should
be conducive for carrying out the operating activities with as little physical, emotional,
and mental stress as possible.
26. The layout should follow four
principles:
◦ 1.The physical layout must allow the goods or the customers being processed to go from one step
to another with very little distance and time spent between steps.
◦ 2.There should be minimal or no crisscrossing of goods or customers within the physical space.
This means that the goods or the customers should not go back and forth from one workplace to
another in a confusing manner.The goods or the customers must follow a sequence of steps that
correspond to the physical layout of the factory or service shop.
◦ 3.The layout should capture the physical and psychological atmosphere desired. On the physical
level, there are the aspects of lighting,ventilation, energy-consumption,and waste management to
consider. On the psychological level, the layout should provide enough "roominess" or human
working space,the proper ambience and the desired sense of safety, security,and human sensitivity.
◦ 4. From the management perspective,the layout must be easy to see, follow, monitor, and control.
27. When the factory or the service shop goes
into full operations, management must be able
to easily track the movement and flow of all
materials, goods, and people as they pass
through the different processes in the different
workspaces.This would allow management to
easily spot bottlenecks and work inefficiencies.
Operations monitoring and quality control are
likewise easier to do when the sequence of
operating activities follow a well-designed and
well-executed physical layout.
28. Production Programming and Scheduling
Operations management is responsible for
Production Programming and Scheduling
(PPS).
◦It is the proper determination of:
◦ (1) what goods or services to produce,
◦ (2) in what sizes and packaging,
◦ (3) in what machinery and equipment (or production/service line),
◦ (4) in how many units, and
◦ (5) precisely when.
29. For enterprises with multiple products or
services, PPS can be a very daunting and
complicated activity.
◦Operations must consider four critical factors in determining
the right PPS.These are:
◦ (1) market demand in terms of volume expectations, trends, cycles,
and seasonality;
◦ (2) capital investment and financing requirements;
◦ (3) product line profitability and capacity utilization; and
◦ (4) the number of products and market segments the enterprise
wants to serve and their implications on the complexity and dexterity
of the production system.
30. of this, enterprises prefer to produce just
enough goods or services to meet the demand.
Good market forecasting should therefore
dictate the PPS. However, consumer tastes
change over time, competing products become
more aggressive, substitutes enter the
marketplace and seasons of the year create
peaks and valleys of demand. One solution is to
have excess production capacity to meet
unexpected sales increases.Another solution is
to outsource or subcontract production to
other producers. However, these have capital
31. Having sufficient production capacity to meet
excess demand will require a fairly large
production facility. Unfortunately, the larger the
facility, the larger the capital investment and
financing requirements needed. Because of this,
the enterprise must decide whether it is better
to have a very large production capacity in
order to meet peak demand periods, or to have
just a small capacity but accumulate the needed
inventory during the lean months of the year.
32. The third critical factor in determining the
PPS is a good product line analysis. Each
product line of the enterprise has its own
demand and supply analysis.At the end of the
day, the operations manager must figure out
how much production capacity a particular
product line would potentially consume.
◦This would depend on two things:
◦ (1) the estimated demand for the product line; and
◦ (2) the number of machine and labor hours the product line would
consume in the factory or service shop.
33. The operations manager must also compute
for the contribution margin of each product
line.This can be derived by subtracting the unit
variable cost of the product from the unit price
of the product.This unit contribution margin
should then be multiplied by the total expected
sales volume of the product line to derive the
total profit contribution of the product line. Of
course, it would be natural for the operations
manager to give priority to the product lines
that yield the greatest profit contributions.
34. The fourth critical factor is the
number of products and market
segments the enterprise wants to
serve.Without discussing the
marketing ramifications of having too
many products, the production system
is bound to become more and more
complex as product lines are added.
35. QUALITY CONTROL
◦ Quality, Delivery, and Productivity
measurement, monitoring and evaluation
system at and every stage of the Enterprise
Delivery System.
36. Before the input is accepted by theTransformation
Process, it must conform strictly the inp to certain
QDP specifications at this input acceptance stage.
The materials and supplies selectit used must adhere
to strict technical standards that would produce the
desired output.The and del input must be delivered
to the factory or service shop at optimal schedules.
They should shop u1 also come at a reasonably low
cost, arrive in sufficient quantities, and be adequately
improvi prepared for easy convertibility into output
in order to ensure high productivity. cost, an
37. Every step in theTransformation Process must also be
measured, monitored, and evaluated according to the QDP
standards of the transformation stage. Every machine,
every worker, and every conversion process has an impact
on the customers' QDP expectations. Some of these
machines, workers, and processes are critical because they
are the major determinants of Quality, or of Delivery, or of
Productivity and Cost, which affects Price. Some affect all
three. More rigor and emphasis should be exerted on these
critical factors.
38. Finally, there are QDP specifications at the output
stage. If the QDP at the input and the throughput
stages were done properly, then the output should
pass the final QDP tests.The output should be very
acceptable to customers.They should be delivered
at the right times and under the best terms and
conditions.They should be produced at high levels of
productivity and at relatively low costs, enabling the
enterprise and its customers to settle at a mutually
acceptable price.
39. Operating Systems and Procedures
◦ Operating Systems and Procedures (OSP) are the enterprise standards for running
the entire operations of the factory or service shop.They are "engineered
methods."
◦ This means that these operating systems or methods have been subjected to
conceptual, analytical, critical, and creative thinking processes.They have been
experimented on and tested successfully in the actual work setting.They have
been judged optimally for the market being served.They have been proceduralized
and standardized for consistency and manualized for replicability (i.e., Operations
Manual).The optimal OSP would differ from enterprise to enterprise depending
on the environmental conditions and the market dynamics of supply and demand.
40. Operations Management,
Supervision, and Control
◦Post the outpi transforn
◦Quality ControlThe Quality, Delivery, and
◦Price expectations of customers must be
matched with the
41. Pre-operations management is
concerned with:
◦ (a) designing and developing the EDS;
◦ (b) choosing the operations site and the technology to be used;
◦ (c) acquiring the technology, machinery and equipment, and all the relevant
service contracts;
◦ (d) constructing, layouting, installing, and testing the operations facilities and
systems;
◦ (e) planning and programming the production of goods and services; and
◦ (f) standardizing and manualizing all the operating and administrative
processes and procedures.
42. Operations proper implements and runs the
factory or service shop that converts the
input into output or goods and services.
◦Operations managers are responsible for:
◦ (a) selecting, sourcing, and storing the appropriate raw materials and
supplies;
◦ (b) recruiting and deploying the right manpower;
◦ (c) running and maintaining the factory or service shop using all the
proper technical, supervisory, and control methods;
◦ (d) continuously improving operations and upgrading facilities;
◦ (e) quality assurance; and
◦ (f) productivity, cost, and profit management.
43. Good operations management,
supervision, and control should focus, on:
◦ (1) creating the right metrics of performance;
◦ (2) perfecting the enterprise operating methods;
and
◦(3) optimizing the mix of men, materials, and
machines.The metrics should measure efficiency,
economy, and effectiveness.
44. Efficiency measurements relate the output
produced to the input provided.The higher the
output to input ratio, the better the efficiency.
Efficiency also looks at the throughput or the
cycle time to convert input into output.The
shorter the time, the more efficient the
operating system is.Another efficiency
measure is the level of wastage or rejects.The
lower the wastage or reject level, the more
efficient the system is.
45. Economy measures the cost of the input,
the cost of transforming the input into
output, and the cost of the final output. It
also measures the investment cost in
relation to the benefits, revenues, returns,
or profits generated. Effectiveness measures
the results or the outcomes realized by the
enterprise in relation to the resources
utilized and time and effort exerted to
produce these outcomes.
46. Effectiveness evaluates the QDP
satisfaction levels of customers, the
marketing results (sales volume, market
share, market reach, market leadership),
and the financial outcomes (rates of return,
profits, stock prices). Methods included are
the operating systems, technologies,
practices, and procedures, and are used by
the enterprise in order to obtain the best
performance metrics.
47. Methods are ways of doing things.They
are engineered by the enterprise
through constant experimentation,
testing, application, evaluation, and
reinvention. Methods also include
control mechanisms that allow the
enterprise to monitor and correct the
operating system.
48. The proper mix of Men, Machines, and
Materials maximizes and optimizes the
productivity and performance of the operating
system.The operations manager must match
the proficiency of Men with the rated capacity
of the Machines and the suitability of the
Materials used.The production line must be
balanced and running at the right tempo. Each
of the three vital elements of Men, Machines,
and Materials must not, in any way, hinder the
full potential of the other elements.
49. Worker Motivation, Skilling, Deployment,
Compensation, and Control
◦ People run factories and service establishments. Even factories with the most automated machines require
good people to calibrate and maintain the machines.
◦ For service shops, people are everything. No customer will patronize a bad barber or a lousy chef. Hiring
the right people is the first step to good operations management. Once hired, the job of the operations
manager is to properly motivate the people.A good working environment and professionally-run
establishment are good starting points. Beyond that the operations manager must be able to inspire the
people to exert and do their best.Advising, coaching, and mentoring people are critical to this inspirational
process. Giving' people a sense of belonging in the workplace is another important ingredient.Allowing
people to participate in the planning and decision-making processes will give them a sen of authorship and
a degree of empowerment. If people see a future in the enterprise they feel that their work is valued, then
they can be readily motivated. Job enlargem and job enhancement programs will definitely help raise the
morale of people.They ha to be sufficiently challenged to aspire for higher levels of production and
productivity.