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Foundations of Production and Operations Management focuses on the concepts essential to a simple-quantitative understanding of strategies and tactics in the P/OM field. Using a managerial focus with the systems approach, this book clarifies the field of Production and Operations Management in its current state. The systems approach is ideal for the managerial focus because the systems approach crosses functional boundaries in search of best solutions. This line of attack has come into strong favor by industry managers. In lieu of detailed quantitative discussions, Starr has streamlined, clarified, and updated fundamental qualitative concepts of business and P/OM. This introductory text provides students with a solid managerial framework for making better decisions, developing career skills, and problem-solving to support company sustainability. The writing style encourages educational literacy. This textbook is dedicated to broad educational objectives in the belief that managers prefer to hire well-informed students.
(Black & White version) Fundamentals of Business was created for Virginia Tech's MGT 1104 Foundations of Business through a collaboration between the Pamplin College of Business and Virginia Tech Libraries. This book is freely available at: http://hdl.handle.net/10919/70961 It is licensed with a Creative Commons-NonCommercial ShareAlike 3.0 license.
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Foundations of Inventory Management presents a complete treatment of inventory theory and models for use in advanced undergraduate, masters, or PhD courses in Operations research, manufacturing management or Operations management. Coverage is organized into an introductory section, followed by a section focused on predictable supply and demand, and the third section covering stochastic inventory models. Many recent developments related to or impacting inventory such as ERP systems, supply chain management, JIT, and ERP systems are integrated within the text. The text presents inventory as a critical topic for virtually all businesses today and one in which theory and practice are closely linked. Prequisite coursework for students of this text would include basic optimization theory, stochastic processes, and dynamic programming. The text includes examples as well as rigorous assignment problem sets.
Location analysis has matured from an area of theoretical inquiry that was designed to explain observed phenomena to a vibrant field which can be and has been used to locate items as diverse as landfills, fast food outlets, gas stations, as well as politicians and products in issue and feature spaces. Modern location science is dealt with by a diverse group of researchers and practitioners in geography, economics, operations research, industrial engineering, and computer science. Given the tremendous advances location science has seen from its humble beginnings, it is time to look back. The contributions in this volume were written by eminent experts in the field, each surveying the original contributions that created the field, and then providing an up-to-date review of the latest contributions. Specific areas that are covered in this volume include: • The three main fields of inquiry: minisum and minimax problems and covering models • Nonstandard location models, including those with competitive components, models that locate undesirable facilities, models with probabilistic features, and problems that allow interactions between facilities • Descriptions and detailed examinations of exact techniques including the famed Weiszfeld method, and heuristic methods ranging from Lagrangean techniques to Greedy algorithms • A look at the spheres of influence that the facilities generate and that attract customers to them, a topic crucial in planning retail facilities • The theory of central places, which, other than in mathematical games, where location science was born
This monograph explores the operations management literature in national culture and organizational culture and points the way for increasing the breadth of the OM field by incorporating this perspective.
Since the beginning of mankind on Earth, if the "busyness" process was successful, then some form of benefit sustained it. The fundamentals are obvious: get the right inputs (materials, labor, money, and ideas); transform them into highly demanded, quality outputs; and make it available in time to the end consumer. Illustrating how operations relate to the rest of the organization, Production and Operations Management Systems provides an understanding of the production and operations management (P/OM) functions as well as the processes of goods and service producers. The modular character of the text permits many different journeys through the materials. If you like to start with supply chain management (Chapter 9) and then move on to inventory management (Chapter 5) and then quality management (Chapter 8), you can do so in that order. However, if your focus is product line stability and quick response time to competition, you may prefer to begin with project management (Chapter 7) to reflect the continuous project mode required for fast redesign rapid response. Slides, lectures, Excel worksheets, and solutions to short and extended problem sets are available on the Downloads / Updates tabs. The project management component of P/OM is no longer an auxiliary aspect of the field. The entire system has to be viewed and understood. The book helps students develop a sense of managerial competence in making decisions in the design, planning, operation, and control of manufacturing, production, and operations systems through examples and case studies. The text uses analytical techniques when necessary to develop critical thinking and to sharpen decision-making skills. It makes production and operations management (P/OM) interesting, even exciting, to those who are embarking on a career that involves business of any kind.
This monograph reviews the existing literature in operations management on worker productivity and outlines interesting and promising areas of future research. It looks at the individual worker as the atomic unit of analysis in order to examine the drivers that impact worker output.
We want to welcome you to both an exciting and tactical discipline: operations management. This manual on Fundamentals of operations management is an effective tool to understand one of the main functions of any organisation: the creation of goods and services. That is, to understand what resources are needed to generate the goods and services of an organisation in a global and highly competitive environment, while also incorporating new technologies. In this manual, along with the classic fundamentals of operations management, we will look forward towards what is coming and how it will impact process improvement in companies. The main goal of this book is to equip the reader with the fundamental concepts in operations management. To do this, it will present the main qualitative and quantitative models for managing operations both in public and private companies. As the reader will see, the chapters are structured with an easy-to-follow and rigorous thematic thread that will make each and every step understandable. All this book has been designed with a distance learning student or a self-taught reader, such as an entrepreneur, in mind. We aim to facilitate the learning of a discipline that for years has been considered complicated and specifically focused on certain professions, and to highlight its relevance and future opportunities. We strive for the reader to enjoy learning from this manual and to discover an exciting discipline with many career opportunities. The book combines both theory and practical exercises with real life cases whose examples will allow the learner to understand the day-to-day and the myriad of challenges and opportunities faced by operations management. The manual covers classic management topics such as process design, inventories, demand forecasting, etc., as well as newer concepts such as digitisation of the supply chain. As for the way the content is conveyed, we have opted for a simple language that facilitates understanding, while also being rigorous and precise. The methodology used is distance learning, which means that this manual is mainly intended for self-learning, and consequently, its structure is designed to promote the understanding of its contents. To achieve this goal: 1. The text is divided into eight chapters that present a logical and coherent sequence to understanding what operations management consists of: Chapter I “Operations in the Current Environment” defines what operations are in a company, teaching the reader about the evolution of this discipline in a global environment. The chapter shows the importance of the company’s competitiveness generators, and explains key concepts such as the value chain, the extended network, and digitisation, which are crucial in current production processes and serve as an introduction to other concepts that will be explained in further detail in the following chapters, which are aimed to teaching how to achieve a right tactical decision-making in operations management. Chapter II “Managing Operations” addresses the main topics in the day-to-day of operations management in order to get the reader in the context of the type of decisions that must be made in matters related to the supply chain, inventory management costs, planning the necessary materials, project management, among others, and understand the implications of such decisions in the proper functioning of the company. After having defined what operations are (Chapter I) and the types of decisions that need to be made for a successful operation (Chapter II), Chapter III, “Tools to Support Decision Making in Operations”, aims to provide the necessary tools to support decision-making in two main categories: quantitative and qualitative techniques. Quantitative techniques include decision trees, linear programming, transportation modelling, queuing models, learning curves, simulations, and sales forecasting. On the other hand, qualitative techniques include concepts such as judgment based on experience, customer surveys, and the Delphi method. By understanding these techniques, readers will be able to delve into key concepts in the following chapters in order to properly plan resources to respond to anticipated demand while avoiding cost overruns and waste and aligning with the company’s production capacity. Chapter IV, “Aggregate Planning,” addresses medium-term production planning, which typically spans between 6 and 18 months. Its main objective is to meet demand, which requires determining the production quantity, inventory levels, and the amount of work or labour force needed by the company, whether in-house or outsourced. To achieve this, it is necessary to develop an Aggregate Production Plan, which is essential for an efficient production. As determining the inventory level is one of the key factors in Aggregate Planning, this manual devotes two chapters to inventory management: Chapter V, “Inventory Management: Independent Demand” and Chapter VI, “Inventory Management: Dependant Demand”. In both chapters, inventory management and being able to determine the optimal quantity of supplies that should be ordered are critical factors for the company’s costs and productivity. Therefore, calculating the optimal order quantity is the central focus of both chapters. The decision to divide inventory management into two chapters is mainly due to the methods used to determine the optimal order quantities, which differ for materials with dependent and independent demand. For the latter case, classic or traditional methods (Chapter V) are not valid (initial assumptions change), and more complex systems, such as MRP (Material Requirements Planning), studied in Chapter VI of this manual, are required. In addition, inventory management has become a critical factor for a company’s competitiveness in today’s globalized world. The emergence of philosophies or approaches that practically eliminate inventory, such as the Just-In-Time (JIT) or Lean Manufacturing systems, cannot be overlooked, so they have their space in Chapter VI. Chapter VII, “Operational Scheduling,” constitutes the final link in operations management. Operational scheduling or short-term planning translates medium to long-term plans into short-term decisions aimed at allocating human resources, machines, and materials in the workplace to plan the most optimal work sequence possible. In short, it translates the Master Production Schedule (Chapter IV) and MRP (Chapter VI) into work sequences and specific assignments of people, materials, and machines to the work centres. Usually, assignments are made on a weekly, daily, and even hourly basis. The last chapter (Chapter VIII), “Quality in the Age of Planned Obsolescence”, tackles the concept of quality from the perspective of operations management and how it has evolved towards process improvement theories while addressing the phenomenon of planned obsolescence, waste generation, and the ethical commitment of operations management to preserve the environment. 2. Each chapter is structured as follows: · The title that identifies it. · A descriptive content section of its main sections. · The educational goals to be achieved after studying it, · Keywords. · An outline that orderly structures the content. · A summary that presents the most important contents and ideas of the chapter The text itself is complemented by graphics, examples, diagrams, and practical situations that occur in our business reality and highlight the application of theoretical concepts. · Glossary of terms · A series of self-assessment questionnaires for every chapter that aims to evaluate the reader’s degree of understanding of its contents (in the online portion of the manual). · Recommended readings (in the online portion of the manual) to reinforce the contents learned through articles, manuals or a combination of both that will allow the reader to establish their learning of all the key issues. Some chapters are also reinforced with videos found on the Internet that contain practical application cases of the studied contents. As can be seen, this book concludes with an extensive bibliography made up of manuals related to Operations Management. Finally, it is our wish that the reader enjoys the manual and that it opens the doors to new and interesting opportunities for them. Dr. Mª Teresa Nogueras Lozano Dr. Eva Ballesté-Morillas