organizations largest cost therefore implementing a strategy that effectively minimizes costs while maintaining product quality is an effective way to increase profits. The best way to minimize costs and maximize product quality is to adopt a lean operations strategy that includes just in time (JIT) initiatives. Central to the JIT technique is continuous problem solving. JIT requires that items and materials are ordered only when needed minimizing inventory. When inventory is minimized wasted costs
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LEARNING OBJECTIVES Moses Gerard Shyne CHAPTER 3 1. Explain why nations and companies participate in international trade. Because no national economy produces all the goods and services that its people need. 2. Describe the concepts of absolute and comparative advantage. A nation has an absolute advantage if (1) it’s the only source of a particular product or (2) it can make more of a product using the same amount of or fewer resources than other countries. Because of climate and soil conditions
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..................5 3.1 Nike Product Development....................................................................................................................5 3.2 Nike’s Manufacturing flow management........................................................................................6 3.3 Lean manufacturing ..................................................................................................................................6 4 NIKE SUPPLY CHAIN ASPECTS..................
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decision-making process * Theories answer, “If we do X, then we will get Y.” * Strategy management process: a sequential set of analyses and choices that can increase the likelihood that a firm will choose a good strategy. * Why do we exist? (MissionObjectives) Can we compete? (External/ Internal Analysis) How do we succeed? (Strategic ChoiceStrategy Implementation)Competitive Advantage Success = Sustained Competitive Advantage * Strategy and the Strategic Management Process * Mission:
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The purpose of this chapter is to introduce the student to a variety of strategic issues that arise in the manufacturing function of the firm. Key Points 1. Manufacturing matters. This writer contends that the loss of the manufacturing base in the U.S. economy is not healthy and will eventually lead to an overall loss in the standard of living and quality of life in this country. It counters the argument that our evolution into a service economy is a natural and healthy thing. 2. Strategic dimensions
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Operations Exam Framework Exam writing * Use headings and titles * Be short and clear * Executive summary is useful * Use exhibits + quantitative analysis * Don’t repeat case facts Strong Exams * Support claims with evidence * Are specific * Address root causes * Prioritize time and actions * Impact of actions * Organization of report * Use exhibits for assumptions * Actions consistent with analysis Read the Case Executive Summary
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activities. True False According to the text, any activity in the value chain can be outsourced except for strategy and management. True False According to the text, the process of coordinating and integrating the flow of materials, information, finances, and services within and among companies in the value chain is called operations management. True False Supply chains are an integral part of global quality and cost management initiatives, since a typical company's supply chain costs can represent
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Contents 1. Lesson 1, Introduction (chapter 1) 4 1.1. Chapter objectives: 4 1.2. Logistics 4 1.3. Operations management 5 1.4. Supply chain management 5 2. Lesson 2, Operations and supply chain strategies (chapter 2) 8 2.1. Chapter objectives 8 2.2. Relationship and difference (point 1) 8 2.3. Core competencies (point 2) 9 2.4. Strategic alignment (point 3) 9 2.5. Supply chain operations and decision categories (point 4) 10 2.6. Customer value and value index calculations (point 5) 11
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Instructor’s Manual Operations and Process Management: Principles and Practice for Strategic Impact Second Edition Nigel Slack Stuart Chambers Robert Johnston Alan Betts ISBN: 978-0-273-71852-9 Pearson Education Limited 2009 Contents Part 1: Teaching Guide ........................................................................................................................................ 7 Chapter 1: Operations and processes.............................................
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Model Explain how Lewin’s Planned Changed Model can be applied to this case. Lewin’s change management model is like change a piece of ice. First you must melt the ice to make it to change (unfreeze). Then you must mold the iced water into the form you want. Finally, you must solidify the new form (refreeze). TOYOTA is a good example. Judged by the innovations in its products, notwithstanding the Prius, we can know that an innovation product needs a new product line. Production, service, marketing
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