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Low Price and Product Features - Operation Strategy
Low price
The ability of the operations system to satisfy the customers' requirements more cost-effectively (and by implication at lower price) than competitors. Virgin Atlantic captured a significant segment of the cross-Atlantic air-travel market by providing customers with a low-priced service.
Product features or performance
The extent to which a product or service offers more features or otherwise out-performs the offerings of competitors. Companies such as Porsche, Rolex and Hilton Hotels compete on these order winners.
Organizations are structured to take advantage of their inherent strengths and also to minimize their inherent weaknesses. For example, an organization may outsource its purchasing
Define the term total quality management in short. Total quality management (TQM): Total quality management is the procedure of embracing a quality conscious philosophy o
How would you go about developing a risk matrix? Give an example of the kinds of factors that should be evaluated.
Explain how the EOQ technique helps explain the following: All things being equal, the production inventory quantity will be larger than the economic order quantity.
Security - Customer Satisfaction and Service Quality Is the freedom from danger, risk or doubt. It involves: 1. Physical safety (will I get mugged at the automatic teller
Consider a production system that consists of a single station with a production rate of 1 part per minute and a process variability given by Ce=1.
What is your personal professional strategy to remain competitive in this environment as globalization increases?
A manufacturer concerned mainly with production efficiencies and reducing unit costs is known as Production oriented.
Consider a layout decision which has been made in your own organisation. How was the layout devised? What were the key issues?
Explain Compensation. Compensation: An employer is not responsible to pay compensation to an employee under the given circumstances/occasions: - (i) While the injury disa
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