...business idea thought up by two roommates who are trying to tap into a market which caters to starving college students in the late night hours. The proposed idea is to offer freshly baked made-to-order cookies late at night for students within an hour. Although, the concept is good, the purpose of this analysis is to determine the components that can make or break this company’s success. The ultimate goal of the company is to comprise a price that is affordable, yet profitable to the two owners. The key points that need to be evaluated would be the production process along with fees for the services, will they be able to profit based of the cost put into the business, ordering capacity based off the equipment currently owned and times of operations, the amount materials that should be in the inventory, and man-power. The students already own key equipment like the mixers, cookie pans that hold a dozen cookies, and the oven, so no investment is needed in this area. Expenses like electricity are covered by the landlord, so this is another item not necessary for the operational budget to start. The input to consider would be the man-power, ingredients which cost sixty per dozen, and ten cent per box. The value of time which is estimated to be four hours per night limited to 1 dozen at a time, guarantee 100% accuracy with the electronic system that take customer orders. Analysis The Kristen’s Cookie Company (KCC) business concepts has some areas that reflect some strengths...
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...Comprehensive assignment for Operations Research Course PGCBM21 Submitted by: Chetan Eklaspur Batch: PGCBM21 SMSID: 110337 Submitted to: Dr Supriya kumar De Study Center: Kormangala Bangalore. Problem: The problem below depicts one of the situations which we face in our Business and I have tried to apply and solve the same using LPP method to find the optimum solution and use it to make decisions. Mr Basavraj runs a wholesale tea powder business under the name of “Eklaspur Tea Depot”. Over the years he has been selling different brands of tea powders and acts as wholesaler or stockiest for those brands. “Eklaspur Tea Depot” is established as a major wholesaler in the area and has a good client base in the form of retailers and Kirana shop owner in the area. Recently due to lot of competition and rising prices there have been requests from few of the clients and some of the new client for a reduction in the prices or cheaper products, these clients are ready to compromise on the quality if the prices are reduced. So having discussed this with some of its client Mr Basavraj wants to start his own brand of Tea powder mixture under the name “Star teas” with Premium and Deluxe quality. The new Brand will be priced lower than the current Brands to meet the requirements of these clients. Mr Basavraj Forecasts that there will be demand for Premium and Deluxe to be 50 and 90 bags respectively of 35kg each, but...
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...Homework Assignment 6 1. For the problem in Q2 of Homework 5, the company decided that the project in the previous problem has to be expedited in order to optimize (minimize) the project cost. Expediting can be used to trade direct cost for indirect cost, since expediting the project reduces the indirect cost of the project by a fixed amount per day, while expediting an activity increases its total direct cost. The Accounting Department found that indirect costs amount to $100 per day, while activity direct costs as well as their normal and expedited times are given in the table below, from which you can compute the direct cost incurred by expediting an activity by one day. Activity Normal Time (days) Expedited Time (days) Normal Cost ($) Expedited Cost ($) A 32 26 200 500 B 21 20 300 375 C 30 30 200 200 D 45 40 200 800 E 26 20 700 1,360 F 28 24 1,000 1,160 G 20 18 400 550 Answer the following questions: (a) (10 points) What is the optimal time to complete the project? The optimal time to complete the project is 73 days. Consider the following information: Activity Normal Time (days) Expedited Time (days) Normal Cost ($) Expedited Cost ($) Cost/ Week ($) A 32 26 200 500 50 B 21 20 300 375 75 C 30 30 200 200 - D 45 40 200 800 120 E 26 20 700 1,360 110 F 28 24 1,000 1,160 40 G 20 18 400 550 75 Cost/Week = (Expedited Cost – Normal Cost)/(Normal Time – Expedited Time) Critical Paths = AP1EG and CFG The company should first...
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...Running head: Human Resources Verses Operations Comparing Operations Project and Human Resources Management Principles Tami Webb Kaplan University MT 435- Operations Management June 22, 2015 Comparing Operations Project and Human Resources Management Principles The purpose of this paper is to discuss and compare the project principles of operations management (OM) to those of human resource management (HRM). OM and HRM have historically been separate parts of an organization. Competencies that were once defined by OM have now integrated with the HR professionals behavioral and technical competencies required to perform a specific role. I will begin with discussing operations program management principles and then follow with human resource management principles. Both areas are strategic initiatives for organizations to continue growth over time and both are keys to a company’s success. Success or failure in either area can make the difference in the overall effectiveness of the company goals and vision. Creating standardizations or certifications for particular skill sets is necessary for specialized work. Operations Project Management When organizations have a culture that encourages knowledge transfer and an atmosphere centered on professional growth, they create a value that encourages buy-in of company goals and visions. Knowledge transfer is not just on the job training, but rather a precise and methodical transfer of wisdom and insight from key...
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...Through effective use of operations management, project management, and information systems management Ohio Star forge will be able to ensure that expanding into a larger automotive ball bearing market will add value for the stakeholder. Operations management is critical to securing the needed resources from their parent company Daido Steel. Project management is essential to ensure that all resources will be used efficiently. Finally, information systems management will facilitate both operations and project management through information exchange and collaboration. Discussion The challenge at Ohio Star Forge (OSF) is to be able to capitalize on the reduction in the total capacity of the automotive ball bearing manufacturing market in the United States due to the merging of several companies. The total capacity in the US market has shrunk by 38% in the last several years. To be able to capitalize on the market demand for automotive ball bearings due to limited supply a new, larger machine must be purchased and put into production before the competition to seize the market. Operations Management Operations Management (OM) is the ability of organizations to reach their goals through effective acquisition and utilization of resources (Bayraktar, Jothishankar, & Tatoglu, 2007, p. 844). OM is involved in the continuous day-to-day operations or ongoing business processes. The goal of OSF is to increase sales, market share, and profitability...
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...DCO21613 Air Freight Logistics Operations Objectives: Project Understand and discuss the insights of the Hong Kong and international business environment in air cargo industry. Details: In March 2012, the Hong Kong Government has approved in principle to adopt, for planning purposes, the three-runway option as the future development direction for Hong Kong International Airport (HKIA), with the recommendation by Airport Authority Hong Kong (AAHK). Besides, the third air cargo terminal in Hong Kong will commence its operation next year. Meanwhile, the competition among Asia-Pacific countries becoming more intense as some of them change their close skies policy to open their skies for foreign air freighters. These big changes produce a huge impact to the air cargo industry in Hong Kong. Assume that your group is an external consultant to evaluate the impacts of the above mentioned changes to the major players of air cargo industry in Hong Kong. Your group should discuss the above-mentioned issues from various aspects and insights. Your discussion can focus in, but not limited to, the following areas: Discuss the impacts of the three-runway option (proposed by AA) on major players of air cargo industry in Hong Kong. (e.g. the impacts on the major players for setting/adjusting their strategic plans, capital investments, information systems, process re-engineering, etc.) Discuss the impacts of the commencement of the third air cargo terminal on major players of air...
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...Project: Operations Description of NCR Corporation Introduction NCR Corporation is a global technology company leading how the world connects, interacts and transacts with business. NCR’s assisted- and self-service solutions and comprehensive support services address the needs of retail, financial, travel, healthcare, hospitality, entertainment, gaming and public sector organizations in more than 100 countries. NCR has a rich history providing high-quality, innovative solutions that meet customers’ needs in an ever-changing market-place for 125 years. But a great company is more than the product it sells. I believe a great company is focused on long-term and sustainable growth, placing just as much emphasis on growing its product line as it does on growing its employees and the communities it serves.NCR is headquartered in Duluth, Georgia. It is a place where people want to come to work because they are continuously invigorated by new ideas and are engaged in improving how to do business. It is a place that recognizes its profound responsibility to the communities where it does business, striving to help those communities thrive by supporting local institutions and employing people who make volunteer work a priority. It is an organization that sees environmental stewardship not as the latest new trend, but as a critical issue in sustaining the future- ensuring our natural resources are protected and preserved. NCR expecting business partners throughout their supply...
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...OPERATIONS DEPARTMENT BACKGROUND: Operations Department headed by HOD (Ops) is the line department of DCI and is responsible for undertaking the dredging operations to fulfill the contractual obligations of DCI. All other departments extend support services to Operations Department in meeting the above responsibilities. Operations department is responsible for monitoring and control of various projects undertaken. Operations Department exercise control over all the Project Offices as well as all the Vessels. Project Offices are headed by Project-in-charge (PIC) and Vessels are headed by Masters. Masters of all DCI vessels, report to PICs who in turn report to HOD (Ops). Operations department strives for improvement of performance/ production, provides safe practices in dredging operations, complying with all Statutory Rules & Regulations of the Government, Ports and by establishing Procedures to safe guard against all identified risks and avoidance of damage to the property particularly while working and at sea. Operations Department looks after deployment of various dredgers at Dredging and Reclamation Projects as per the contracts concluded between the DCI and customers such as Major Ports, Minor Ports, Indian Navy, Ship building yards, Inland dredging organizations in India and major dredging and reclamation projects abroad. Operations department also looks after issues with respect to carrying out Hydrographic survey, soil explorations/ investigations and...
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...Administration - Blended Learning Business and Commercial Awareness Coursework - 6FBS1261 Implementation Plan for the Operation Departmen Nicole Alexander Word count: 1495 TABLE OF CONTENTS Page no. Section 1- The Investment idea and the role of the Operation department 3 Section 2- How the investment idea will impact the Operation department 3 Section 3- Milestones and Time plan for the major operations activities 4 Section 4- Financial Overview for the Operations Section 6 Section 5- How the Operation implementation plan is linked with other departments 8 Section 6- Risks identification and Management 9 Section 7- Resource requirement by the operations department 10 Section 8- References 12 Section 1 The investment idea and the role of operations department The operation department stands as the foundation of the business operation, and how the company would be run and the ideal location for the business. The operations staff that would be involved is a few people since the business of upgrading two hotels that would be located in Los...
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...Re: Proposing a Project Portfolio Evaluation and Selection Process Executive Summary Taking into account the poor performance of our current projects due to a weak portfolio management process in place, the Operations SBU has come to the determination that if we are to move forward in accommodating new projects along with our existing ones, the current system must be reviewed and redesigned for better decision-making. This proposal defines a framework for project portfolio evaluation and a project selection for adoption and it elaborates on the two phases that involve project screening, selection, prioritizing and balancing. More emphasis is given to the project selection criteria and score model as this is the main area where the gap of knowledge has been identified. Rationale Our recent organizational determination to sustain by controlling costs and expanding our frontiers shall require much effort from all our SBUs and most importantly, it is crucial that we are able to incubate a proper process that shall boost good decision-making and mitigate conflicts when we come to screening multimillion dollar projects and implementing them as part of our operations. The said process shall be about evaluating our project portfolio and devising a methodology of selecting specific projects with the highest probability of helping our company achieve its strategic goals and fulfill our mission. From the Operations SBU perspective, the implementation of new projects without proper categorization...
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...CHAPTER 1: OPERATIONS AND PRODUCTIVITY TRUE/FALSE 1. Some of the operations-related activities of Hard Rock Café include designing meals and analyzing them for ingredient cost and labor requirements. True (Global company profile, easy) 2. The production process at Hard Rock Café is limited to meal preparation and serving customers. False (Global company profile, easy) 3. All organizations, including service firms such as banks and hospitals, have a production function. True (What is operations management? moderate) 4. Operations management is the set of activities that create value in the form of goods and services by transforming inputs into outputs. True (What is operations management? easy) 5. An example of a "hidden" production function is money transfers at banks. True (What is operations management? moderate) 6. One reason to study operations management is to learn how people organize themselves for productive enterprise. True (Why study OM, easy) 7. The operations manager performs the management activities of planning, organizing, staffing, leading, and controlling of the OM function. True (What operations managers do, easy) 8. "How much inventory of this item should we have?" is within the critical decision area of managing quality. False (What operations managers do, easy) 9. In order to have a career in operations management, one must have a degree in statistics or quantitative methods. False (What operations...
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...Data repository is a general term that is used simply to refer to the data storage points within an organization or system. This project seeks to put in place a more efficient and bugger repository to improve the performance of the existing information systems. This repository is aimed at making the organization grow relatively to greater heights in the next few years, probably by twenty percent annually. It is expected that the repository will put in place the current missing aspects of data properties that need to be included as important resources of the organization. The project seeks to take the minimum time possible, and to utilize the resources to the least standards to minimize on costs, and maximize on the net present value. 1. Project Evaluation This project will be evaluated using the financial aspects of the net present value. Using a discount rate of 20%, we expect that the discounted future values will be able to meet the user requirements. This evaluation will be done based on the forecasted future possible returns from the project activities, on a period of less than five years. The net present value method has been selected since it takes into account the time value of money. The needs resources required from the company to undertake the project will be deducted from the forecasted annual returns or yields expected from this project. This would give the annual profits (π) in a certain year (n) which would be discounted at the stated rate as shown using the...
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...28-Feb-11 Operations MBA - MBA in Operations … M.B.A. Today Preparing for your future... today • Home • Distance Learning • Professional Networking • Salaries • Careers • Schools by Location Pick a State ==>> Operations Management MBA Programs R e que st inform a tion from the top O nline and Ca m pus O pera tions Mana ge m e nt schools in the country. Specialized MBA Programs General MBA Programs Accounting Programs Finance Programs Health Care Management Programs Human Resource Programs Marketing Programs Project Management Programs Public Administration Programs Operations Management Programs Technology Management Programs Operations MBA Programs Le arn wha t typica l sala rie s a re for O pe ra tions Ma na gem e nt ca re ers a cross the state s. Typical Career Salaries for MBA graduates With a Global marketplace increasing levels of competition, organizations need to be fiercely efficient and effective in their efforts to gain their share of profits. Operations Manager career prospects appear relatively bright. How ever, growth for this occupation should only mimic growth in the careers the Operations Managers oversee. Operations Manager salaries are going to be seeing the greatest rise. Along with competition in other industries comes a need for the most competent and highly trained. A valuable Operations Manager is current with technological advancement as well as skilled in the area of creating successful business...
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...Introduction The company chosen for this assignment is XYTech Sdn. Bhd. which is based in Prai Industrial Park, Penang, Malaysia. XYTech started its operation in 1988 with a goal of continuous innovation and commitment to provide worldwide automation solution to its customer. XYTech designs, develops, and manufactures industrial automation equipment for customers from various industries including Automotive, Medical, Electronic,Air-conditioning and Semiconductor. Expertise includes High vacuum applications, Leak detection technologies, Assembly automation and Test systems. XYTech also builds Precision material handling and Secondary processing equipment used in the Semiconductor industry. XYTech provides its customers complete integrated engineering solutions from conceptual design to operational equipment; as well as after sales support. The company mission is to produce highly dependable and reliable machineries with effective cost and superior support and services to their customers. In the automation industry, competition is aggressive and dynamic where competitor will compete to gain the orders. Slack, Chambers and Johnston (2010) states that, there are five elements which are quality, speed, cost, flexibility and dependability are essential in operation objectives. XYTech has to fulfill all the elements in their operation objectives in which their customer expects besides meeting their machineries specification and requirements. As automation competitor competes with each...
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...Human Resource Management and Project Management Throughout this paper I will be discussing Human Resource Management principles compared to Operations Management principles, Project Management principles compared to Operations Management principles, and the importance of professional service organizations in standardizing a profession. Human resources management evolved from the task-oriented nature of personnel administration in the 1980s and 1990s to a strategy-focused extension of the organization in the 2000s (About SHRM, n.d.). HR management is driven by several business principles, particularly the "Ten C" collection of HR management principles developed by HR management expert Alan Price, author of "Human Resource Management in a Business Context." Price's 10 principles are "comprehensiveness, credibility, communication, cost effectiveness, creativity, coherence, competence, control, change and commitment (About SHRM, n.d.)." Based on these principles, they seem to tie directly in to the same principles as Operations Management. In Operations Management you have to have credibility to be effective in your role, communication is a must to make the business run smoothly and properly, you would need to be cost effective so that your business is being profitable, many times you need to be creative in completing tasks to get to your final objective, you need to be competent in what you do, have control over all complications that may arise, be open to change, and be...
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