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Ops Man

Topic 1 - Intro to ops man

QuestionAnswer
Production Collection of processes, procedures, methods and techniques that result in goods and services
Operations Management Implies the management of the production system which transform the inputs into outputs
Production Subsystem Includes planning, decisions and activities that convert inputs into outputs
Strategic Decisions Affect products, processes and installations in LT Unstructured Difficult/ expensive to correct in short term Important to coordinate with other functional departments
Tactical Decisions Affect products, processes and installation in ST Structured and Repetitive Can correct in short term Planning control to detect deviations between reality and planning
Operations Function (1) (1) Planning - project future - Strategic = 3/5 years, problems in LT - Tactical = 1/3 years, MT, connects strategic and operational - Operational = weeks/1 year, refines strategic plan - Adaptive = removal of deviations in real results and objectives
Operations Function (2) (2) Production & control planning Strategic = demand forecasts, sales plan Aggregate = strategic at lowest cost, family level MPS = product planning, stable & flexible Material planning = components & capacity Execution & control = purchase orders
Planning and control of STOCKS Inventory = resources not used Stocks = retained capital Profitability = profit/assets
Units - Components = elements for final product - Products = production result - Families = group products w similar market requirements, production, materials - Types = group families share similar market behaviour
Why do we need inventories? Satisfy market demands Avoid interruptions in production Balance production Obtain economic benefits Get savings or speculation
Factors in materials planning Demand characteristics inventory costs (possession, emission, breakup, acquisition) Supply timing (external & internal)
Created by: patriciam03
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