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√√ Strategic role of operations management | iitutor
 
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https://www.iitutor.com Strategic means affecting all business functions. The strategic role of operations management is to contribute to the direction and plan of the business. The main goal of business is to minimise costs to maximise profits. A strategic role of operations is the management of costs. The different operations costs for a business are: Input costs, Labour costs, Processing costs, Inventory costs, Quality management. • Cost leadership aims to have the lowest costs and be the most prices competitive in the market. The business must still be profitable. Operations Management therefore must find ways to reduce costs in production. Example: Bunnings. A business can cut costs by increasing the scale/size of the business. How? By buying in bulk, the business is able to negotiate lower costs per unit. Goods/service differentiation: Tangible – they can be seen and touched. Tend to be standardised. Can be owned and transferred between people. Can take considerable time between production and consumption. Easy to determine costs by calculating inputs and adding margin. Services: Intangible. Generally customised. Cannot be owned. Production and consumption occurs at the same time. The value of a service depends on what the consumer is prepared to pay. Product Differentiation. Operations must find a way to distinguish their products from their competitors. This gives them a competitive advantage. This will differ between goods and services. Product Differentiation: Goods. Varying the actual product features. Operations search for ways to make their product features attractive to the consumer. Varying product quality. Making a low quality alternative to attract a different group of consumers. Varying the augmented features. This refers to add-ons or additional benefits. Product Differentiation: Services. Varying the amount of time spent on a service. Example: Hair salons. Varying the level of expertise brought to a service. Some service providers will offer a higher level of expertise. Varying the qualifications and experience of the service provider. This can be an important factor when consumers are choosing their service provider. Varying the quality of materials/ technology used in service delivery. Computer Aided Manufacturing (CAM). Medical technologies. Cross Branding: Operations may choose to offer consumers added benefits from a cross-branding arrangement.
Views: 27251 iitutor.com
√ Operations Strategies - Performance Objectives | iitutor
 
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https://www.iitutor.com To be more efficient, the operations manager will set performance objectives such as: Quality, Speed, Dependability, Flexibility, Customisation and Cost. Quality: Consumers expect: 1. Quality of design. How a product is made or a service is delivered. This will affect the inputs and processes used to make the product. Example: Sony v Phillips. 2. Quality of conformance. ability of a product to meet its design specifications. Design specifications are an interpretation of what the customer needs. If passengers expect a flight to leave within 10 minutes of its scheduled departure time, then any departure time within that time frame has a high quality of conformance. 3. Quality of service. How reliable is the service? How responsive is the service? Are the needs of the customer being met? Refers to the time it takes for the production and operations process to respond to changes in market demand. Example: Ikea online have different delivery options. Customers can choice platinum express for next day delivery or standard post for 3-5 day delivery.
Views: 7291 iitutor.com
1 Operations Management Basics : An Overview of 10 OM Decisions: Design of Goods - part 1
 
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An in-depth discussion of operations management by Professor Myles Bassell.
Views: 6750 Professor Bassell
The Difference Between Operations and Strategy
 
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Operations and strategy are like two separate, but related, engines on a boat. Both engines propel the boat forward. And while forward movement can occur with only one engine, the boat moves faster and is more responsive if both are running efficiently. Presented by Christopher Stowell. Read more here: http://www.cmoe.com/blog/strategy-vs-operations-understanding-the-difference.htm ======================================= Make sure not to miss a single video from CMOE! Click here to Subscribe: http://www.youtube.com/user/cmoeinc?sub_confirmation=1 ======================================= CMOE The Center for Management & Organization Effectiveness http://www.cmoe.com ======================================= Facebook: https://www.facebook.com/CMOEinc ======================================= Twitter: https://twitter.com/cmoe =======================================
Views: 46144 cmoeinc
Operations Strategy 1
 
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Overview of Operations Strategy
Views: 33235 Dr. Harvi Millar
[2.a] Competitive Priorities
 
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Operations Management Lecture Series, by Dr. Narendar Sumukadas Click here to view the complete series: (http://www.youtube.com/channel/UCtgSQs_Fpzi367qs1w-zCAA)
Views: 7782 Narendar Sumukadas
SUCCESSFUL MALL MANAGEMENT STRATEGIES
 
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Successful mall management specialists share their success mantras on how their exceptional management skills have made many shopping centres enviably successful. Mall management experts require the finesse of a hospitality professional, tech-savviness to employ the latest technology and solutions, and be a good team manager to keep their teams motivated. A definite plus if the Mall Manager is a marketing whiz as well, and has a financial upside to keeping costs down and running the mall profitably.
Views: 4516 Indiaretailing.com
10 Strategic Management: Strategy Evaluation and Control
 
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In this final lesson of strategic management, we learn about how to keep strategy execution on track and achieving what is intended. Learn more and become student at EF University for FREE - http://executivefinance.teachable.com/ Like us Facebook- https://www.facebook.com/exfinance/ Linkedin- https://www.linkedin.com/company/executive-finance Twitter- https://twitter.com/exfinance
Views: 23580 Executive Finance
Process Strategies - Operations Management Easy Guide
 
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Decoded operations management keywords and expressed and presented on easy notes to remember and understand.
Views: 2543 Toniphine Flores
HSC Business Studies Operations: Volume, Variety, Variation in Demand, and Visibility
 
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This video looks at the processes in Operations Management, in particular the influence of Volume, Variety, Variation in Demand, and Visibility. The information presented in this video has been sourced from a variety of locations, and/or has been provided to me through a long line of other educators, thus, the exact location is unknown. No attempt is made to claim this as my own work. Sources: Chapman, Stephen, Natalie Devenish, Mohan Dhall and Cassy Norris. Business Studies in Action: HSC Course. 4th ed. Milton, QLD: John Wiley & Sons, 2011.
Views: 3320 Marco Cimino
UniversityNow: Operations Management Unit 4- Process Technology
 
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UniversityNow: Operations Management Unit 4- Process Technology
Views: 693 unowacademics
7501NSC Lecture 10: Managing the Airline Business
 
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Managing the Airline Business Corporate level strategies. Boston consulting group matrix. Porter's Five Forces competition model. Porter's General Level Business Strategies. Competitive analysis.
Views: 2042 MAv Man
Operations Management - Krajewski - Chapter 1: Operations Strategy
 
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Operations Management - Krajewski - Chapter 1: Using Operations to Compete. Learning objective 1: Describe operations and supply chains in terms of inputs, processes, outputs, information flows, suppliers, and customers. LO2: Define an operations strategy and its linkage to corporate strategy, as well as the role it plays as a source of competitive advantage in a global Marketplace. LO3: Identify nine competitive priorities used in operations strategy, and their linkage to marketing strategy. LO4: Explain how operations can be used as a competitive weapon. LO5: Identify the globat trends and challenges facing operations management. (Video 2) Video lectures accompanying the book Operations Management - Krajewski: ISBN: 978-0-273-76683-4
Views: 4437 Windesheim
Implementing Strategies: Management and Operations
 
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Podcast about Implem1 Requirement for Strategic Management class Background music: "Linus and Lucy" by Vince Guaraldi References: Strategic Management by Fred David
Views: 12836 cerisecherry
Operations Management - Technology
 
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Recap on Technology theory, plus explanation of some strategies that can improve the effectiveness and efficiency of operations (Recorded with http://screencast-o-matic.com)
Views: 272 David Graham
QSO-600 Operations Management Week 10 Lecture
 
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This is a recording of the Week 10 video lecture for QSO-600 Operations Management. The following items were discussed: 00:51 What is the Voice of the Customer? 03:36 The Customer as Part of the System 08:15 How does the Customer Perceive Value? 12:36 The Kano Model 14:54 Internal Customers 18:02 TQM Customer Strategies
Views: 7 Curious Manager
Developing Supply Chain Strategy
 
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What is ‘supply chain strategy’ and how can organizations frame their decisions? In this video tutorial Dr. Simon Croom, Professor of Supply Chain explains how markets need to be segmented from a supply chain management perspective, how identifying priorities is needed to drive strategies and the connection between those strategic priorities and the operational tasks in managing the sourcing, production and fulfillment to each target market segments.
Views: 26653 USD School of Business
Quality Management
 
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Presentation of power point notes from Heizer and Render, Principles of Operations Management 10e.
Views: 31751 Dr. Harvi Millar
Lecture 02 Operations Management: Objectives
 
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Historical Development of Operations Management Basics of Operations Management Objectives of Operations Management
Lecture 05 Operations Strategy
 
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The Role of Operations Strategy Business/Functional Strategy Operations Strategy
Strategic Operations Management WarRoom - Product Video
 
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Designed for Mid-Senior level managers who are required to Conceptualize, Test & Implement Strategies. www.wisdomtoolz.com
Lecture 28 Aggregate Production Planning
 
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Aggregate Planning Objectives of Aggregate Planning Quantitative Techniques For Aggregate Planning
Push and Pull  Supply chain strategies (ENG)
 
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Facebook page https://www.facebook.com/supplychainacademia LinkedIn page https://www.linkedin.com/company/supply-chain-academy-az/ Presenter - Elvin Mursalov https://www.linkedin.com/in/mursalove
Views: 5327 Supply Chain Academy
Introduction to Operations Management Part 2
 
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Sobey School of Business. Presentation based on Chapter 1 in Heizer and Render.
Views: 51911 Dr. Harvi Millar
operations strategies inventory mgt
 
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Made with Explain Everything
Views: 119 Leanne Carroll
Operations and Strategy With Nigel Slack
 
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Professor Simon Croom of the University of San Diego discusses operations and strategy within the supply chain with Nigel Slack, Professor of Operations at Warwick Business School.
Views: 38925 USDSCMI
Business strategy - SWOT analysis
 
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On Udemy: https://www.udemy.com/user/365careers/ On YouTube: https://www.youtube.com/365careers On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers This lesson on Business strategy introduces the idea behind doing SWOT analyses. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Strategy module table of contents: MBA in a Box: Introduction 1. What does the course cover? Section: 2 Strategy: An Introduction 2. The role of Strategy and what makes a Strategy successful 3. The difference between Corporate and Business Strategy 4. The importance of the Mission, Vision, Goals, and Values statements Section: 3 Strategy: The industry lifecycle model 5. The four stages of the industry lifecycle model - An introduction 6. The strategic importance of the industry lifecycle model 7. The Introduction stage - A new industry is born 8. The Growth stage - An industry in its expansion phase 9. The Maturity stage - An industry at its peak 10. The Decline stage - An obsolete industry Section: 4 Strategy: Porter's Five Forces model - The competitive dynamics in an industry 11. Michael Porter's Five Forces model 12. The threat of new entrants 13. The threat of substitute products 14. The intensity of current competition 15. The bargaining power of suppliers 16. The bargaining power of clients 17. Porter's Five Forces framework applied in practice Section: 5 Strategy: Game Theory - Studying the interaction between multiple parties 18. An introduction to Game Theory 19. Zero-sum games - approaching situations with a win-lose perspective 20. Non-zero-sum games - considering both cooperation and confrontation 21. Tobacco companies - a real-life example of Game Theory application Section: 6 Strategy: Focusing on the inside of a business 22. Focusing on the inside of a business - An Introduction 23. A company's lifecycle model - what should be done at different stages Section: 7 Strategy: Acquiring a competitive advantage 24. The quest for a competitive advantage - An Introduction 25. The importance of building a sustainable competitive advantage 26. The role of resources and capabilities 27. Acquiring an actual competitive advantage Section: 8 Strategy: The three main competitive strategies 28. The three main competitive strategies 29. Cost leadership - sell cheap 30. Differentiation - be different 31. Niche (Focus) strategy - find your niche market 32. The danger of hybrid strategies Section: 9 Strategy: Corporate growth strategies 33. The types of growth opportunities companies pursue 34. Organic growth - building a solid foundation 35. Inorganic growth - leveraging M&A transactions 36. Horizontal integration 37. Vertical integration Section: 10 Strategy: The SWOT analysis framework 38. An introduction to SWOT analysis 39. SWOT analysis in practice - Starbucks -------------------------------- Strategy analysis has two main branches – analysis of a firm’s external environment and analysis of a firm’s internal environment. SWOT is a famous framework that allows us to combine the two types of analysis. SWOT is sometimes referred to as internal-external analysis. The acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The first two, Strengths and Weaknesses, are related to a firm’s internal environment, while the last two, Opportunities and Threats, consider its external environment. Internal strengths and external opportunities are vertically paired as helpful elements, while internal weaknesses and external threats are paired as harmful elements. if we perform a company analysis, under strengths, we would expect to see its core competences, the areas where the business excels and has a competitive advantage over competitors. Weaknesses are areas that need improvement. Such vulnerabilities place a company at a disadvantage when competing against other firms. Opportunities can be seen as favorable factors existing in a company’s external environment, in the industry where it operates, and have the potential to improve its current results and competitive positioning. Threats arise in a company’s external environment and might harm its current business.
Views: 39369 365 Careers
Operations Management - Krajewski - Chapter 3: Operations Strategy: Layout
 
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Learning objectives: Explain why processes exist everywhere in all organisations. 2. Discuss the four majour process desicions. 3. Postition a process on the customer-contact matrix or product-process matrix. 4. Configure operations into layouts. 5. Define customer involvement, resource flexibility, capital intensity, and economies of scope. 6. Discuss how process decisions should fit together. 7. Define process reengineering and process improvement. (video 3) Instruction video accompanying the book. Operations Management, 10th edition. Krajewski, Ritzman and Malhotra. ISBN: 027376683X
Views: 4256 Windesheim
HSC Business Studies Operations: Strategic Role of Operations Management
 
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This video looks at the strategic role of Operations Management within the Business Studies HSC course.
Views: 404 Marco Cimino
Introduction to Operations Management | IIMBx on edX | Course About Video
 
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Take this course for free on edX: https://www.edx.org/course/introduction-operations-management-iimbx-om101-1x#! ↓ More info below. ↓ Follow on Facebook: https://www.facebook.com/edX Follow on Twitter: https://www.twitter.com/edxonline Follow on YouTube: https://www.youtube.com/user/edxonline About this course Have you ever wondered about the right methods to improve productivity, configure your supply chain or address the demand on hand? In recent years, businesses have strived to improve productivity and quality, reduce costs and delivery times, and embrace flexibility and innovation. These strategies are part of the Operations Management (OM) activities that service and manufacturing organizations engage in. Introduction to Operations Management helps you to understand the role of OM in a firm and to develop abilities to structure and solve operations related problems. The course will empower you with skills to address important aspects of business operations including capacity, productivity, quality, and supply chain. You will understand how operations in an organization are configured and factors that can potentially drive the complexity of managing such operations. We will also introduce concepts like estimating capacity, identifying bottlenecks, and de-bottlenecking. Throughout the course, you will join us in discussions on productivity improvement methods, development of quality assurance systems and configuration of supply chains. The course will equip you with the right tools, techniques and skills to estimate, compute, analyze and configure key elements of operations management.
Views: 2577 edX
What Are Operations Strategies And Methods?
 
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Come on over to http://teachingbubble.com/blog to answer the question or to give us the operations "methods" you have been studying in class this year.
Views: 626 VCEBizMan
PRODUCTION VS OPERATION MANAGEMENT | DIFFERENCE | BBA/MBA/BCOM | ppt
 
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#YouTubeTaughtMe PRODUCTION AND OPERATIONS MANAGEMENT – 03 This video consists of the 8 major differences between production management and operation management, MY BLOG : www.pptwalablog.blogspot.in TAGS FOR THE VIDEO: what are production management what are production management strategies how to do production management what does production management do what does production management involve how does production management contribute to improved manufacturing how does production management improve the economy what does production management entail what does production management does unisa offer production management hindi how production management is different from operation management how to study production management what is production management pdf what is production management in business what is production management system what is production management state its objectives what is production management in film importance of production management what is production management ppt what is production management function what is production management wikipedia what is production management in fashion what is production management in mba where to study production management what production management who is production management why study production management are operations management what are operation management techniques what are operation management strategies what are operation management issues what are operation management tools what are operations management concepts what are operations management principles what are operations management activities what are operations management functions what are operations management jobs how can operations management improve efficiency how can operations management lead to competitive advantage how can operations management improve production how can operations management improve quality assurance how can operations management improve customer stratification how can operations management be integrated with corporate strategy how can operations management be improved how can operations management prepare for natural disasters how can operations management contributes to the success of an organisation how can operations management help when did operations management begin what difficulties did operation management face do you understand operation management who can do operation management what does operation management do does operations management involve math does operations management mean what does operation management include why does operation management crucial how does operation management work what does operation management deals with what does operation management involve what does operation management what does operation management teach us what does operation management means to a firm how operation management used in a company how operation management is important how operations management is important in business how to operations management how to study operation management is operation management a good career is operation management important is operations management a good major what is operation management definition what is operation management pdf what is operation management in mba what is operation management ppt what is operation management system what is operation management in business what is operation management course why should operation management why should study operation management what operation management do what operations management is all about what is operation management and why is it important where is operations management applicable where are the operation management jobs what operation management why operation management is important why operation management is important in all types of organization why operation management is critical to the success of a business why operation management is important for an organization why operation management is important in an organisation why operation management as mba why operations management interview questions why study operation management why is operations management important in cds how would operations management be a critical component to a hospital manufacturing vs services difference between manufacturing management and services management
Views: 4157 Sonu Singh - PPT wale
Operations Management through the Eye of a Hurricane
 
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A short video trailer to get my students in MGSC 6515 and MGSC 6615 Strategic Operations Management to reflect on the role operations management can play before and after a hurricane - preparation and recovery, planning, decision analysis, flow models, forecasting, capacity analysis, supply management, logistics, project management, quality control, inventory management, scheduling, queuing, etc. It's all there!
Views: 162 Dr. Harvi Millar
Introduction to Operations Management Promo Video
 
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Promo video for Introduction to Operations Management with Christian Terwiesch on Coursera www.coursera.org/course/whartonoperations
Operations Management
 
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Trailer for Operations Management at the Sobey School of Business
Views: 6462 Dr. Harvi Millar
7 Top Time Management Strategies That All Successful Business Owners Use
 
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Dale is always looking for ways to get things done faster and smarter. In this video, he shares 7 ways how you can manage your time better. Read more at the blog: http://bburl.co/7WaysTime If you enjoyed this video, subscribe to our channel get more awesome content: http://bburl.co/2BSubscribe or visit our website http://businessblueprint.com.au/ If you want more help to grow your business, join 52 Ways, our FREE 1-Day Business Workshop and learn 52 strategies to grow your business! Claim your ticket at http://52Ways.com and take your business to the next level! Find us on: Facebook ▶ http://facebook.com/businessblueprint Twitter ▶ http://twitter.com/BizBlueprint_HQ Instagram ▶ http://instagram.com/businessblueprint/ LinkedIn ▶ http://linkedin.com/company/business-blueprint Google+ ▶ http://plus.google.com/+BusinessBlueprint Flickr ▶ http://flickr.com/photos/businessblueprint/ Soundcloud ▶ http://soundcloud.com/business-blueprint Stitcher ▶ http://stitcher.com/podcast/business-blueprint
Views: 976 Business Blueprint