PRINCIPLES AND APPLICATIONS OF OPERATIONS RESEARCH * Jayant Rajgopal Department of Industrial Engineering, University of Pittsburgh, Pittsburgh, Pennsylvania ABSTRACT This chapter will provide an overview of Operations Research (O.R.) from the perspective of an industrial engineer. The focus of the chapter is on the basic philosophy behind O.R. and the so-called “O.R. approach” to solving design and operational problems that industrial engineers commonly encounter. In its most basic form, O.R. may
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reviews only reinforce Green Mountain’s commitment to quality and doing things the right way. They buy some of the world’s finest specialty coffee beans from around the world, and then follow a precise quality-driven roasting process built around a continuous process improvement model that includes elements of Six Sigma. They use Six Sigma from
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strategy, Financial strategy, Production strategy, Logistics strategy, Human resource strategy. 6. Strategy Implementation and Control Organisational structures; Establishing strategic business units; Establishing profit centres by business, product or service, market segment or customer; Leadership and behavioural challenges. 7. Reaching Strategic Edge Business Process Reengineering, Benchmarking, Total Quality Management, Six Sigma, Contemporary Strategic Issues. The Nature of Strategic
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ch01 29. The set of activities that transforms raw resources into the goods and services of an organization is called: A. Value chain. B. Supply chain. C. Demand chain. D. Cost-benefit analysis. 30. Which of the following activities would not be considered a value-added activity? A. Production B. Marketing C. Accounting D. Distribution 31. Which of the following statements is false? A. In essence, the value chain and the supply chain are similar; each creates something for which the
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TRITA-IIP-13-06 ISSN 1650-1888 ii Abstract In almost all supply chains, materials need to be stored or buffered, implying that manufacturing companies need effective replenishment methods. However, this is challenging, since companies must balance inventory costs and customer service in complex and different situations. Therefore, it is important to choose replenishment methods carefully. One well-known and widespread method is Material Requirements Planning (MRP). But the method has problems
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single, interdependent, global economic network has gradually developed and is still in the process of unfolding. Global megatrends which continue to influence the international business world include technological innovation; the shift in emphasis from manufacturing through services to the Information Age; the development of regional trading blocs; and changing demographic patterns. The main driving forces for globalisation are: reduced trade and investment barriers that enable the free flow
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Lecture 1 – Chapters 1 and 2 Chap 1 Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return * Deal with customers, satisfying customers’ needs * Attract new customers by promising superior value * Keep and grow current customers by delivering satisfaction Marketing Process Understand the marketplace and customer needs and wants * Customer needs, wants and demands
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Introduction by Mark Lehrer 3 Module #2: Industry Analysis by Mark Lehrer 6 Rivalry 8 Entrants 9 Bargaining Power of Suppliers / Buyers 9 Two Cases: Breakfast Cereal and Personal Computers 9 Module #3: Value Chain Analysis by Mark Lehrer 12 Module #4: Industry Value Chains by Mark Lehrer 16 Module #5a: Generic Strategies (by Mary Hamilton) 16 Module #5b: Resource-Based View (by Mary Hamilton 16 Module #6: Industry Life Cycle (by Mark Lehrer) 16 Module #7: Competitive Strategy by Mary
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Financial Management includes the following 5 functions * Financing function- raising capital to support firms operations and investment programs * Capital budget function- selecting the best projects in which to invest firm resources, based on a consideration of risks and return * Financial management function- managing firms interna; cash flows and its capital structure to minimize the financing costs and ensure that the firm can pay its obligations when due * Corporate goverance
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