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Q: What is operations management?
A: Operations management is the planning, organising and control of systems which produce goods and services. It is one of the most important managerial functions although some managers may not refer to themselves as operations managers. For instance a hotel manager may will not refer to himself/herself as an operations manager. Hospital administrators do not consider themselves as operations managers. However, from the descriptions contained in this section their activities are those of operations management. Operations is therefore all about using resources and providing value. Value in the form of products and services.
Wally and Beaver were general partners in a car dealership. Using the partnership name, Wally entered into a contract to purchase 30 used cars from Car Lots. Car Lots was not aware
discuss productivity in the service sector
The formal strategic planning process has five main steps. We are going to analyze at the first step involving corporate mission, vision, values and goals in the context of the com
Do a lean waste analysis on the goal and create a waste elimination plan. (List the seven forms of waste, list items in the goal by waste form, determine what could be done to redu
Part 1: A company is using the Economic Order Quantity (EOQ) model to manage its inventories. Suppose its inventory holding cost per unit per year doubles while the annual deman
Determine the formula of the Economic Order Quantity. The formula for Economic Order Quantity (EOQ): EOQ = √((2x C O x D)/(C H ) Here D = Annual demand (units)
what advantage and disadvantage stepping stone method?
Describe the four options highlighted in the case study in terms of their feasibility, acceptability and vulnerability.
Stan Fawcett's company is considering producing a gear assembly that it now purchases from Salt Lake Supply, Inc. Salt Lake Supply charges $4 per unit with a minimum order of 3000
what do you understand by “line balancing “? What happens if balance doesn’t exist?
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