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√ 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: 7862 iitutor.com
√ Strategic Role of Operations Management | Business Studies
 
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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: 30598 iitutor.com
Operations Strategy 1
 
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Overview of Operations Strategy
Views: 34407 Dr. Harvi Millar
Lecture 05 Operations Strategy
 
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The Role of Operations Strategy Business/Functional Strategy Operations Strategy
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: 2589 Toniphine Flores
[1.a] Introduction to Operations Management
 
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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: 59720 Narendar Sumukadas
MANAGEMENT STRATEGIC Implementing Strategies  Management and Operations Issues
 
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MANAGEMENT STRATEGIC_Implementing Strategies: Management and Operations Issues
Views: 354 martinus alexander
[6.e] Capacity Expansion Strategies
 
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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: 3259 Narendar Sumukadas
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: 53825 365 Careers
Operations Management - Krajewski - Chapter 3: Operations Strategy: What is process strategy
 
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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 1) Instruction video accompanying the book. Operations Management, 10th edition. Krajewski, Ritzman and Malhotra. ISBN: 027376683X
Views: 2355 Windesheim
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: 2243 MAv Man
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: 13203 cerisecherry
Operations Management   Lecture   4SV
 
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This video is regarding Relationship of Operations Management with Other Functional Areas. This is part of lecture series on Operations Management
Module 1: What is Supply Chain Management? (ASU-WPC-SCM) - ASU's W. P. Carey School
 
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Part 1 of 12 - This module introduces viewers to the field of supply chain management. It describes the complex supply chain of a simple product, a bottle of water. The video also illustrates the importance of supply chain managers and their skill sets in our modern global economy for both manufacturing and service industries. In defining supply chain management, the video also hopes to educate and inspire business students, young and old, about the opportunities available to those with supply chain management degrees. This is the first installment in Arizona State University's twelve-part introduction to supply chain management video series. ASU, the W. P. Carey School of Business, and the Supply Chain Management Department are proud and happy to share this video series with supply chain management departments, supply chain instructors, career specialists in high schools and universities, as well as industry leaders in an effort to inspire a new generation of supply chain management professionals across the country and around the world. Further installments in this series will be made available during the spring of 2010. For more information, visit W. P. Carey's SCM Web site at http://wpcarey.asu.edu/scm or send an e-mail to [email protected]
Operations and Supply Chain Management - Supply Chain Organizational Strategies
 
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Full course: https://www.udemy.com/operations-and-supply-chain-management/?couponCode=PROMONOW Meeting Market Demand If you want to meet the volatile demands of the market with quality products and a timely delivery, it's important that you develop a strong supply chain strategy. A supply chain strategy provides the plan for an organization's supply chain. While business strategies provide direction and guidelines for company processes, a supply chain strategy implements these guidelines by integrating business plans and extending them throughout all aspects of the company. Supply Chain Organizational Strategies Companies can use a number of generic business strategies in order to strengthen their position in the market: differentiation, cost leadership, differentiation focus, and cost focus. Differentiation A company selects a differentiation strategy when it wants to produce and deliver goods or services that customers perceive as being different from competition in ways that are important to them. It conducts market research to find out what customers want, and it then develops a product to uniquely meet those needs. For example, a cell phone company might develop a phone that's more lightweight and sturdy than any other phone on the market. Cost leadership A company selects a cost leadership strategy when it wants to stress to customers that its product is cheaper than other similar products on the market. This strategy works best for products that are essentially similar. Customers might be more interested in better value than in apparently trivial differences between different offerings. For example, an airline might offer passengers cheaper flights without any extras. Differentiation focus A differentiation focus strategy is similar to a differentiation strategy. However, it focuses on a small section of the market. For example, a clothing company might offer designer clothing with matching accessories for its wealthier customers. Full course: https://www.udemy.com/operations-and-supply-chain-management/?couponCode=PROMONOW
Views: 1146 Sorin Dumitrascu
Supply Chain Strategy - Introduction, Types and Global Strategies | AIMS Lecture
 
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http://www.aims.education/study-online/supply-chain-strategy/ Supply Chain Strategy is defined as: "A strategy for how the supply chain will function in its environment to meet the goals of the organization’s business and organization strategies"
Views: 39148 AIMS Education - UK
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
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: 4780 Indiaretailing.com
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: 300 David Graham
Quality Management
 
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Presentation of power point notes from Heizer and Render, Principles of Operations Management 10e.
Views: 32680 Dr. Harvi Millar
Introduction to Operations Management Part 2
 
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Sobey School of Business. Presentation based on Chapter 1 in Heizer and Render.
Views: 53846 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: 8142 Narendar Sumukadas
Chapter 2 - Global environment and Operations Strategy
 
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MGMT 316 Class Capsules are short videos that present the key concepts covered in class
Views: 2275 Slim Saidi
HSC Business Studies Operations: Performance Objectives
 
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This video looks at the strategies in Operations Management, in particular performance objectives. 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: 1505 Marco Cimino
Lecture 28 Aggregate Production Planning
 
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Aggregate Planning Objectives of Aggregate Planning Quantitative Techniques For Aggregate Planning
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: 4331 Windesheim
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: 39987 USDSCMI
Film slides Terry Hill’s Operational Strategy Model
 
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A short explanation of Terry Hill's Operational Strategy Model. For more detail see Terry Hill, Operations Management, Second Edition, Part 1, Managing Operations and People for Businesses and Markets, Exhibit 2.15; pg 50
Views: 3577 Glenn Parry
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: 4547 Windesheim
Lecture 02 Operations Management: Objectives
 
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Historical Development of Operations Management Basics of Operations Management Objectives of Operations Management
Chapter 9 Layout Strategies
 
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takt time, cycle time, movement cost between work cells, volume*cost,
Views: 415 Sumadhur Shakya
10. Green Supply Chain Strategy
 
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MIT ESD.S43 Green Supply Chain Management, Spring 2014 View the complete course: http://ocw.mit.edu/ESD-S43S14 Instructor: Edgar Blanco Student discussed a case study focused on the corporate social responsibility. Also, the instructor emphasized the importance of the life cycle assessment and introduced the five steps to develop a sound Green Supply Chain Management strategy. License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu
Views: 6360 MIT OpenCourseWare
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: 4287 Marco Cimino
Ten Process Strategy Keys for Program Managers
 
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Go to https://www.sebasolutions.com to learn more about Dr. James Brown, project management and leadership speaker. Ten Process Strategy Keys for Program Managers This video supports Chapter 4 of my book, The Handbook of Program Management. It is easy for program managers to get consumed with the “urgent” and the “tactical.” However, at the program level, you also need to devote significant time to the “strategic.” That is, every program manager has to develop strategies for the business growth and health of his or her program. The strategies we are discussing are for the program’s internal stability and strength. The decisions that follow the strategies should not be characterized by mere chance. These decisions include: 1. How status will be performed 2. How mentoring relationships will be established 3. How project managers are assigned 4. How strategies are designed to ensure organizational discipline 5. How to mix project management responsibilities with organizational responsibilities 6. How to determine the percentage of organizational resources to spend on operations and maintenance versus development 7. How project management administrative functions are assigned 8. How to grow organizational capabilities by increasing the capabilities of project managers 9. How to balance process and people 10. How bad projects will be stopped Each of these strategies are further described in Chapter 4 of The Handbook of Program Management. Hello, I am James Brown here to discuss. Ten Process Strategy Keys for Program Managers This video supports Chapter 4 of my book, The Handbook of Program Management. It is easy for program managers to get consumed with the “urgent” and the “tactical.” However, at the program level, you also need to devote significant time to the “strategic.” That is, every program manager has to develop strategies for the business growth and health of his or her program. The strategies we are discussing are for the program’s internal stability and strength. The decisions that follow the strategies should not be characterized by mere chance. These decisions include: 1. How status will be performed 2. How mentoring relationships will be established 3. How project managers are assigned 4. How strategies are designed to ensure organizational discipline 5. How to mix project management responsibilities with organizational responsibilities 6. How to determine the percentage of organizational resources to spend on operations and maintenance versus development 7. How project management administrative functions are assigned 8. How to grow organizational capabilities by increasing the capabilities of project managers 9. How to balance process and people 10. How bad projects will be stopped Each of these strategies are further described in Chapter 4 of The Handbook of Program Management. To see more project management and leadership tips, go to https://www.sebasolutions.com/blog/. James is an authority on project management. As a professional speaker and author, James helps companies deliver projects successfully. For information about project management training go to http://www.https://www.sebasolutions.com/project-management-training/workshops/. Facebook: https://www.facebook.com/DrJamesTBrown LinkedIn: https://www.linkedin.com/in/drjtb Google+: https://plus.google.com/109628980572060952397 Twitter: https://twitter.com/drjamestbrown 321-269-1222
Views: 311 SEBA Solutions
Operations Management
 
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In this sample lesson from Skillsoft's new line of business skills videos, learn the fundamentals of operations management. At Skillsoft, we're leading a culture of innovation, bringing learning and talent management into the digital age. Founded in 1998, we've never stopped growing, and are the global leader in elearning. We train more professionals than ANY other company in the world - 400 million users and counting! Learn more at www.skillsoft.com.
Views: 51787 Skillsoft YouTube
operations strategies inventory mgt
 
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Made with Explain Everything
Views: 119 Leanne Carroll
Rooms Division Operations Management FdA 1
 
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Rooms Division FdA 1: The lodging industry: the hospitality industry; classifying hotels; classifying guests; hotel's organisational chart and key terminology used in rooms division; legislation, statutory and regulatory requirements
Views: 2613 Nelson College London

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