Production and Operation Management - 890 Words

Being in the right location is a key ingredient in a businesss success. If a company selects the wrong location, it may have adequate access to customers, workers, transportation, materials, and so on. Consequently, location often plays a significant role in a companys profit and overall success. A location strategy is a plan for obtaining the optimal location for a company by identifying company needs and objectives, and searching for locations with offerings that are compatible with these needs and objectives. Generally, this means the firm will attempt to maximize opportunity while minimizing costs and risks. A companys location strategy should conform with, and be part of, its overall corporate strategy. Hence, if a company strives†¦show more content†¦* Labor. Companies must establish their labor criteria and determine what kind of labor pool they will need, including the desired education and skilled levels. * Suppliers. Companies must consider the kinds of suppliers they will need near their locations. In addition, having suppliers nearby can help companies reduce their production costs. Besides these basic requirements, companies must take into consideration their unique requirements of prospective locations. These requirements may correspond to their overall corporate strategy and corporate goals and to their particularShow MoreRelatedProduction And Operations Management : Production Management Essay941 Words   |  4 Pagesused in the production/operations subsystem of the organization into value added product/services in a controlled manner as per the policies of the organization, is the definition of Production/operations management. Consequently, it is that part of an organization, this part is involved in the transformation of a range of inputs, like men, material, machines, information and capital, into the required (products/services), with the requisite quality level. The group of correlated management activitiesRead MoreProduction Of Production And Operation Management1415 Words   |  6 PagesPRODUCTION OPERATION MANAGEMENT The focus of any business is to provide needs of customer by providing military and supplies, and in this procedure generate value for customers and solve their trouble. Production and operations management talks about applying big business association and management concepts in formation of supplies and military (1). PRODUCT: A product is defined as the thing offered for deal. A product can be a facility or an item. It can be material or in virtual form. Every productRead Moreproduction and operation management1377 Words   |  6 PagesPaper of Production and Operations Management IIBM Institute of Business Management Examination Paper Production and Operations Management Subject Code-B107 ï‚ · ï‚ · ï‚ · MM.100 Section A: Objective Type Short Questions (30 marks) This section consists of multiple choice Short Notes type questions. Answer all the questions. Part one questions carry 1 mark each Part two questions carry 5 marks each. Part One: Multiple choices: 1. Production and Operations Management concernsRead MoreProduction and Operation Management864 Words   |  4 PagesProduction and Operation Management Cheng Guoping Chapter 1 Introduction 1. Production System 2. Production and operations in the organization 3. Function and jobs of POM 4. Decision Making in POM 5. The emergence of production and operation management 1. Production System Production and operation management (POM) is the management of an organization s production system, which converts input into the organization s products and services. 1.1 Production system model Inputs Read MoreProduction and Operations Management1511 Words   |  7 PagesBBA – 305 PRODUCTION OPERATION MANAGEMENT Model Questions based on Previous years Question Papers UNIT – I Qs. 1 : Explain the importance of Production Operation Management in current scenario. Why it has become an integral part of Business Education ? State with examples. [BBA-IP: Dec. 2011] Qs. 2 : Operation Management is becoming a very important subject in Business Education in the last fewRead MoreOperation and Production Management3104 Words   |  13 Pagesin process create value for customers and solve their problems. Production and operations management talks about applying business organization and management concepts in creation of goods and services. 1.1. PRODUCT Though many authors define the product with Consumer orientation, it is better for us to deal with different angles, because it will be helpful for us to understand the subject of production and Operation Management. (i) For a Consumer: The product is a combination of or optimalRead MoreProductions and Operations Management737 Words   |  3 PagesProductions and Operations Management I The three categories of statistical quality control The three categories of SQC include the traditional statistical tools, acceptance sampling, and statistical process control (SPC). Traditional statistical tools are descriptive statistics like the mean and range, used to describe qualitative characteristics. Acceptance sampling is a process of taking a random sample or portion of a batch and deciding whether to accept or reject the whole batch. SPC is aRead MoreOperations Management : Production Management1657 Words   |  7 Pages Operations management is the art of knowledge that ensures that services and goods are produced and distributed successfully to customers. Operations management key objective is maximize efficiency while producing and effectively fulfilling customer needs. In this novel the operations management team is struggling to make this plant a profitable plant so it will not be shut down. Alex is wondering why is that he cannot produce quality products and respond to customer needs at a faster pace considerablyRea d MoreProduction Operation Management1195 Words   |  5 PagesProduction Operations Management Session 3-2 More on Processes 1 Outline ï‚ § Multi-product, multi-flow process analysis – So far: 1 product, 1 flow – Differing process times, yield issues, machine breakdown ï‚ § Big Takeaway: – Product-mix becomes critical in multiple flows – Implications in capital investment, scaling business, and risk management ï‚ § Calculating capacity when you have – Multiple flows †¢ With the same processing time at each resource †¢ With different processingRead MoreProduction and Operation Management657 Words   |  3 Pageswell within the control limits, although sample 24 is close to the XÌ… lower control limit and samples 17 through 22 are above the target. 3. Twelve additional samples of curetimes data from the molding process were collected from an actual production run. The data from these new samples are shown before. Update your control charts and compare the results with the previous data. The XÌ…- and R-chart are drawn with the new data using the same control limits established before. Comment on what the