The document covers key elements of operations management, focusing on process improvement, productivity enhancement, and inventory management. It includes discussions on manufacturing strategies, queuing theory, and quality management practices like Six Sigma and ISO certifications. Additionally, it highlights the importance of project management and supply chain management in efficiently managing the flow of goods and services.

1. Operations Management

2. What did we cover?

3. Operations management
• Operations
management seeks to
manage and improve
the processes that
make products and
produce services.

4. Improving Productivity
Operations also looks to
keep the company
happy by improving
productivity.

5. Inventory
• We learned about
inventory. Why it's
important.
• How much it costs
companies. How much
inventory a company
should order. And what
companies need to
consider in managing
inventory.

6. Manufacturing Products and Services
We discussed issues
related to
manufacturing products
and services. We saw
different manufacturing
strategies. We discovered
issues related to managing
manufacturing capacity.

7. Lean and Focused
• Lean: only do what adds
value
• Lean manufacturing
• Focused factories

8. Queuing Theory
• Queuing theory is the mathematical study of
waiting lines, or queues. A queuing model is
constructed so that queue lengths and waiting
time can be predicted.
• how the management of waiting lines can create
efficiencies, improve the customer
experience, and also improve the work
environment for your employees.
• We explored some simple waiting line
formulas to help us understand waiting line
dynamics.

9. Queuing Theory

10. Manage and Improve Quality
• Quality programs
• Benchmarking
• Six Sigma
• Quality certifications
ISO9000

11. Project Management
Effective and
efficient management of
projects falls under the
umbrella of operations
management.

12. Project Management

13. Supply Chain Management
Supply chain
management, the
management of the flow
of goods and services,
involves the movement
and storage of raw
materials, of work-in-
process inventory, and of
finished goods from point
of origin to point of
consumption.

14. Operations Management