...Production and Operations Management –MGT613 INTRODUCTION TO PRODUCTION AND OPERATIONS MANAGEMENT VU Lesson 01 POMA Previously called Production Management Then Production and Operations Management Often called Operations Management Should not be confused with Operations Research or Production Management which are the domain of Mechanical and Industrial Engineering. THE COURSE CONTENT Tentative Course Content Units of Learning wise Unit I ( Introduction and Productivity, Strategy and Competitiveness) Unit II ( Forecasting) Unit III ( Design of Production Systems) Unit III ( Quality) Unit V ( Operating and Controlling the System) Tentative Course Content Lecture wise Unit I ( 5 Lectures) Unit II (3 Lectures) Unit III ( 12 Lectures) Unit III ( 10 Lectures) Unit V ( 15 Lectures) History of Management Frederick Taylor and Gilbreths (Lillian and Frank Gilbreth) are pioneers of transforming management to scientific domain. Borrows a lot of information from Engineering and Management to give an overall bigger picture of operating and managing any organization. Difference between Operations Management and Research OR relies on mathematical modeling and OM relies on practical scenarios/industrial cases. OR domain and tool of Engineers while OM is considered to be one of the critical tools of Managers. OR considered more powerful to improve the whole system where as OM can be applied to a part of the system. OR relies on mathematical modeling while OM relies on practical scenarios/industrial...
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...Chapter 1 Operations and Productivity 1. What is operations management? a. Production is the creation of goods and services. b. Operations Management (OM): Activities that relate to the creation of goods and services through the transformation of inputs to outputs. (For both tangible and intangible activities in an organization) 2. Organizing to Produce Goods and Services c. All organizations must perform three functions: i. Marketing: generates the demand, or at least takes the order for a product or service (nothing happens until there is a sale) ii. Production/operations: creates the product. iii. Finance/accounting: tracks how well the organization is doing, pays the bills, and collects money. 3. Why study OM? d. OM is one of the three major functions of any organization, and it is integrally related to all the other business functions. All organizations market, finance, and produce, and it is important to know how the OM activity functions. Therefore, we study how people organize themselves for productive enterprise. e. We study OM because we want to know how goods and services are produced. The production function is the segment of our society that creates the products and services we use. f. We study OM to understand what operations managers do. g. We study OM because it is such a closely part of an organization. A large percentage of the revenue of most firms is spent in the OM...
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...Members: Anthony Combes Jerick Angeles Industry: Telecommunications I. Introduction Telecommunications is a universal term that is used for a vast range of information-transmitting technologies such as mobile phones, land lines, VoIP and broadcast networks. It is one of the fastest-growing industries in the world, especially in the developing countries. It is a process where in an exchange of information occurs by means of electronic and electrical over a distance. An example of a complete arrangement of this process is that, it is made up of two or more stations provided each with transmitter and receiver devices. There is this so called transceiver, a single co-arrangement of transmitters and receivers that may also be used by telecommunication stations. In telecommunications, information is passed through forms of electrical signals which are the carrier waves that are modulated into analog or digital signals for transmitting information. Telecommunication all began in Africa, some parts of Asia and the Americas with the use of smoke signals and drums. Until, in the year 1830’s, electrical telecommunication systems started to appear already. With the advancement of the technology today, no doubt why time and distance as obstacles to communication is not is not problem anymore. Telecommunication has been always beneficial to many parts of the society such as businesses, international relationships and many more. http://www.ehow.com/about_6130768_technology-improved-communication...
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...Algebra 1: Simplifying Algebraic Expressions Lesson Plan for week 2 Age/Grade level: 9th grade Algebra 1 # of students: 26 Subject: Algebra Major content: Algebraic Expressions Lesson Length: 2 periods of 45 min. each Unit Title: Simplifying Algebraic Expressions using addition, subtraction, multiplication, and division of terms. Lesson #: Algebra1, Week 2 Context This lesson is an introduction to Algebra and its basic concepts. It introduces the familiar arithmetic operators of addition, subtraction, multiplication, and division in the formal context of Algebra. This lesson includes the simplification of monomial and polynomial expressions using the arithmetic operators. Because the computational methods of variable quantities follows from the computational methods of numeric quantities, then it should follow from an understanding of basic mathematical terminology including the arithmetic operators, fractions, radicals, exponents, absolute value, etc., which will be practiced extensively prior to this lesson. Objectives • Students will be able to identify basic algebraic concepts including: terms, expressions, monomial, polynomial, variable, evaluate, factor, product, quotient, etc. • Students will be able to simplify algebraic expressions using the four arithmetic operators. • Students will be able to construct and simplify algebraic expressions from given parameters. • Students will be able to evaluate algebraic expressions. • Students...
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...Constructing Formulas for Mathematical Operations in Excel (Basic Tips and Techniques) Michelle A. Applequist Computer Information Systems (CIS105) Professor Hari Dhungana Strayer University September 1, 2009 Constructing Formulas for Mathematical Operations in Excel Microsoft Excel uses formulas to construct mathematical operations in a worksheet. After data have been entered into the worksheet, you can perform calculations, analyze data, and create charts. An Excel formula (calculations you create) and functions (formulas pre-existing in Excel) calculates the data entered in the worksheet. Formulas calculate numbers in a particular order. “Excel has one of the most comprehensive set of formulas, not only to perform calculations but also to manage data and records. It also has the ability to instantaneously re-calculate the results as the raw data changes” (Khoo, 2006-9, para. 2). To construct a formula after you have entered data, you must click in the cell that you want the results to appear in, and then type the formula. You can construct formulas by using the sum function, and editing numbers in a cell. It is stated that: Sum is an Excel function—a prewritten formula. Sum indicates the type of calculation that will take place (addition). When the sum function is activated, Excel looks above the active cell for a range of cells to sum. If there is no range above the cell, Excel will look to the left for a range of cells to...
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...Mathematical Operations of Numbers and Simplifying Algebraic Expressions Section A.: Mathematical Operations of Numbers 1.) 8+((12+5) x 4)/2= 8+(17x4)/2= 8+68/2= 8+34= 42 2.) ((3+4)²+4)-2= (7²+4)-2= (49+4)-2= 53-2= 51 3.) ((12+7)+(8/4)²) (19)+(2)² 19+4 23 4.) ½ + ¼ - ⅓= 6/12+3/12-4/12= 9/12-4/12= 5/12 5.) 2/3 x 3/5 = Multiply straight across 2/3 x 3/5 = 6/15 Find common denominator Reduce to lowest term 6/15 ÷ 3/3 = 2/5 6.) ⅓ ÷ ½ = Multiply by reciprocal ⅓ x 2/1= 2/3 7.) 3/2 ÷ ( 1/5 + 6/10) = 3/2 ÷ (2/10 + 6/10) = 3/2 ÷ 8/10 = Multiply by reciprocal 3/2 x 10/8 = 30/16 = 15/8 = 1 7/8 Section B.: Simplifying Algebraic Expressions 1.) 2x + 3x - 5x + x = 5x - 5x + x = 0 + x = x 2.) 2(6x + 5) = 2(6x) + (2x5) = 12x + 10 = 3.) (14x - 7) /7 = 14x - 7 ÷ 7 = 14x ÷ 7 = 2x -7 ÷ 7 = -1 2x - 1 4.) -(-15x) - 3x = 15x - 3x = 12x 5.) 5(3x+4) - 4 = 15x + 20 - 4 = 15x + 16 = 6.) 5(3x-2)+12x = 15x -10+12x = 27x - 10 = 7.) 4(2y-6)+3(5y+10) = 8y-24+15y+30 = 23y-24+30 = 23y+6= 8.) (x+1) (x-2) = Multiply the first 2, outside 2, inside 2, last 2 xx - 2x + 1x - 2 = xx - 2x + x - 2...
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...This week’s material is pretty easy to learn. My learning strategy stayed the same from last week; read the reading material, look at the optional video lectures, answer the discussion question, program the programming assignment, take the self-quiz, etc. … I appreciate learning about the for … each loop. I’m plenty familiar with the for loop, which iterates for a set number of loops, uses initialization, a continue condition, and updating at the top of its block; but, the for … each control structure is a alternative to for. The for .. each loop control structure does not have as complicated continue conditions, and iterates the length of the data structure. I want to master the for .. each loop because it processes a data structure better then the for loop. I interacted with people in the discussion forum. This week’s question asked students to detail the for , and for … each control structure, and include the enum data structure in the explanation. I posted a discussion post, complete with programming examples of each data structure, but there are not enough other student responses to assess. I’ll keep looking for other students to post their discussion assignment, as I need to assess three student discussion posts. This week, I feel it will be helpful to master the for .. each, while, and do … while control structures. Often, I use the for loop, and select case / switch, but the other loops escape my programming toolbox. This week, I learned how to program with while...
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...Aaron Sura June 2, 2014 Wiley plus exercise Question 1. (a). $181,500 (b). $41,200 (c). 38,000 (d). 19,200 (e). 9,500 (f). 63,400 Question 3. In its first month of operation, Maze Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 150 units for $8. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. The company uses the periodic method. FIFO: $1,410 150 units multiplied by $8 equals $1,200 30 units multiplied by $7 equals $210 $1,200 plus $210 equals $1,410 LIFO: $1,160 100 units multiplied by $6 equals $600 80 units multiplied by $7 equals $560 $600 plus $560 equals to $1,160 Therefore, the phantom profit would be $250 if the company were to use the FIFO rather than LIFO. Question 4. Compute the lower of cost or market valuation for O'Connor's inventory. 12,500(camera)+9,000(camcorders)+12,800(DVD’s)= $34,300 Question 5. Establishment of responsibilities: Only cashiers may operate registers. Segregation of duties: The duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals. Independent and internal verifications: Daily cash counts are made by cashier department supervisors. Human resource control: All cashiers are bonded Physical controls: All over-the-counter receipts are registers. Question 6. Segregation of duties: 3 Establishment of responsibilities:...
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...yDylan Dissanayake Student ID : 15223568 Session 1 : Earth Buddy 10/01/12 Q1. How many Earth Buddies can Ben count on producing in one shift? How many if the factory works 2 shifts? Three shifts? How many if it operates three shifts a day, seven days a week? Which operation is the bottleneck? TASK | TIME | NUMBER OF OPERATORS | a.BUDDIES/HR | b.BUDDIES/SHIFT | c.BUDDIES/ "2" SHIFTS | d.BUDDIES/ "3" SHIFTS | e.BUDDIES/ "3" SHIFTS - 7 DAYS | FILLING | 1.5 | 6 | 240 | 1680 | 3360 | 5040 | 35280 | MOULDING | 1.6 | 3 | 225 | 1575 | 3150 | 4725 | 33075 | EYES | 1.2 | 2 | 300 | 2100 | 4200 | 6300 | 44100 | EYE GLASS | 1.2 | 1 | 300 | 2100 | 4200 | 6300 | 44100 | PAINTING | 1.5 | 1 | 240 | 1680 | 3360 | 5040 | 35280 | PACKING | 1.98 | 2 | 363 | 2541 | 5082 | 7623 | 53361 | a. Buddies/hr = 60minutes x Operators time/task b. Buddies/shift = 60minutes x Operators x Productive hrs time/task c. Buddies/ 2 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts time/task d. Buddies/ 3 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts time/task e. Buddies/ 3 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts x Days 7 Days time/task Bottleneck = Lowest output (Moulding) Theoretical Capacity/hr = Operators x 60min ...
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...Chapter Solutions Operations Management.pdf DOWNLOAD HERE CHAPTER 12: INVENTORY MANAGEMENT – Suggested Solutions to ... http://users.ipfw.edu/khamaljn/P301/Class_Notes/Solutions-Chapter12.pdf 1 BUS P301:01 CHAPTER 12: INVENTORY MANAGEMENT – Suggested Solutions to Selected Questions Summer II, 2009 Question 12.5 This is EOQ with D = 19,500 units/yr; H = $ ... CHAPTER 11 Operations Management http://www.eng.uwi.tt/depts/mech/ugrad/courses/meng3006/Week09b.pdf Operations Management, ... • To decouple operations ... CHAPTER 11 11-39 Inventory Management Economic Production Quantity I n v en t o r y L ev el CHAPTER 10 Operations Management - Academic Resources at ... http://academic.missouriwestern.edu/mlewis14/MGT%20416/Lectures/My%20Chap010.pdf Operations Management 8th edition 10-2 Quality Control CHAPTER 10 Quality Control McGraw-Hill/Irwin Operations Management, Eighth Edition, by William J. Stevenson PRODUCTION/OPERATIONS MANAGEMENT - … http://faculty-staff.ou.edu/B/Samir.Barman-1/POMsp02.doc PRODUCTION/OPERATIONS MANAGEMENT. BAD 5262 . SPRING 2002. Course Instructor: Samir Barman, Ph.D. ... Apr 02 Chapter 3 All Example Problems. Operations in a PR: 3.1-3.6 Chapter 7 Accounting for Financial Management http://harbert.auburn.edu/~yostkev/teaching/finc3630/notes/Chapter7solutions.pdf Chapter 7 Accounting for Financial Management ANSWERS TO END-OF-CHAPTER QUESTIONS 7-3 No, because the $20 million of retained earnings would probably not be held as cash...
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...COLLEGE OF BUSINESS DIVISION OF MANAGEMENT AND MARKETING MARSHALL UNIVERSITY Spring 2011 Course Title & Number: Operations Management, MGT 420- 203 Class Schedule: TR 12:30 PM To 1:45 PM CH 244 Required Text: Operations Management, Jay Heizer and Barry Ender, Tenth Edition, Pearson Prentice Hall. Instructor: Dr. Deepak Subedi Office: Corbly Hall 423 Office Hours: M 2:00 PM to 4:00 PM TR 10:00 AM – 12:30 PM and 1:45 PM – 2:00 PM R 6:00 PM – 6:30 PM Phone: 696 – 2676 E-Mail: subedi@marshall.edu I prefer you use the homepage of this course on blackboard to email me. You do not need any appointment to come to my office during the office hours. Course Description: This course is designed to be an applied; this is a level course in operational management. Learn basics issues pertaining to the operations management Learn important areas of operations management such as inventory management, project management, MRP etc Learn basics of decision making tools such as forecasting and linear programming This course is an attempt to blend quantitative reasoning with practical decision-making applications. Prerequisite: It is the student's responsibility to be aware of and meet all prerequisites for LCOB courses. By remaining in the course beyond the regular registration period, the student certifies that he/she has met all prerequisites...
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...Operations Management and Ethical Issue According to Aquilano, Chase, and Jacobs (2005), "Operations management (OM) is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services" (p.19). Operations management is a dynamic field and presents exciting new issues and challenges for operations managers. For example, Maura Sprenger, human resources director at Techno Inc., a fast growing information technology company, is faced with a very difficult issue between winning a multimillion dollar business contract with Apex Company or run the risk of causing a very knowledgeable and valuable employee to quit. Sprenger faces a dilemma on ethical issues related to diversity in the workplace. And the risk of losing a deal with Apex company, a large client. In addition, Techno presents a false expectation to Apex Company to close a deal which would run the rise of losing the contract deal. Jack Ridge, Techno's vice president for sales and marketing departmenttries to sell a major contract to Apex and with a visit to was Apex's headquarter Ridge is impressed with Apex's diversity program. Ridge is under the impression that executives at Apex are very proactive about the diversity of its workforce and likes its vendors to reflect the same commitment. Techno has its own employee diversity committee, staff training, and recruiting efforts, however, the staff's diversity is very limited. Because Ridge does not want to send...
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...statistics requirement: satisfied through NGN 111 • communication requirement: a minimum of 12 credits in 100-level or above writing (WRI)/English (ENG) courses, including ENG 204 and ENG 207 • ethical understanding requirement: satisfied through INE 490 • discipline-specific writing intensive course requirement: satisfied through INE 491 • oral proficiency requirement: satisfied through INE 491 • information literacy requirement: satisfied through WRI 102 and ENG 204 • computer literacy requirement: satisfied through COE 210 Major Requirements (78 credits) CHE 205 Principles of Chemical Engineering I COE 210 Programming I EGM 361 Management for Engineers EGM 364 Engineering Economy ELE 225 Electric Circuit and Devices INE 222 Operations Research I INE 310 Manufacturing Processes for Industrial Engineers INE 311 Quality...
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...MGT 657 Operations Management - Homework 2 Problem 1 A manager has the option of purchasing one, two, or three machines. Fixed costs and potential volumes are as follows: Number Total Annual Corresponding of machines Fixed Costs Range of Output 1 $ 9 600 0 to 300 2 $ 15 000 301 to 600 3 $ 20 000 601 to 900 Variable cost is $10 per unit, and revenue is $40 per unit. Help the manager determine break-even point for each range. If projected annual demand is between 580 and 660 units, how many machines should the manager purchase? Problem 2 A company is preparing to introduce a new product. Demand is uncertain. According to a market research conducted on behalf of the company, it is estimated that the demand can be High (H) with a probability 70% percent and Low (L) with a probability 30%. After the first 2 years if the initial demand is high, there is 15% likelihood that it will drop to Low and 85% likelihood that it will remain High. If, on the other hand, the initial demand is Low, it will remain Low with no chance to of increasing to High. The company has to select among 2 alternatives. A) start dynamically making a new big investment worth of 300000$ B) Start conservatively using existing equipment and technology and making a small investment of 100000$. In this case, and if the demand is high, the company may after 2 years make an additional investment to expand...
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...Systems 3 Micro Economics 3 Macro Economics 3 Business Environment 3 Business Ethics & Corporate Governance 2 Quantitative Methods-1 3 Business Research Methods 3 Quantitative Methods-2 3 Core Elective-1 3 Core Elective1 3 Core Elective-2 3 Core Elective2 3 Elective-1 3 Elective-1 3 Elective-2 3 Elective-2 3 Grand Project-1 3 Grand Project-2 3 Principles of Management Basic Building Blocks Autumn Break Executive Skills Organisational Behavior Human Resources Management 3 Marketing Management 1 3 Marketing Management -2 3 Understanding Financial Statements 3 Financial Mgt 3 Operation Management Management Domain 3 3 Basics of Business Planning 2 Electives Credits Autumn Break credit SUMMER INTERNSHIP Course S 1 22 S 2 24 Total Credits 2 8 S 3 21 S 4 20 95 Index Sr.No Subject Faculty Credits 1 Written Analysis & Communication Prof. Dhriti Banerjee @ 2 Soft Skills Prof. Dhriti Banerjee @ 3 Computing Skills Dr. Nidhi Arora 2 8 4 Macro economics Prof. Nasheman Bandookwala 3 10 Dr. Vipul Patel...
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