1. Business operations deal with practical process of making products and providing services. The study on the business operation will gain the knowledge as well as technical and quantitative approaches to improve the product of goods and services. Historically, several pioneers in this area are Frederick Taylor, Frank and Lillian Gilbreth, as well as Elton Mayo lead the different theories such as Theory X, Y, and Z.
2. Business operation is neither the scientific method nor a pure human relation. It should be a contingency approach to optimize and combine the two theories.
3. The operations as the problem solving framework are often facing five major issues in the production and service: Capacity that can be produce, Schedule you plan, Inventory control, Standards for efficient production, and the ways to control the production.
4. For the capacity, we have six M’s to guide the manufacturing analysis. They are Methods ( best), Materials (available), Manpower (working force), Machinery (tools), money (finance resource), and Messages (accurate info).
5. Schedules define when and what you are going to do. Several major form and method of schedules are (i) Henry Gantt and Gantt Chart Scheduling; (ii) Critical path method of scheduling; and (iii) Applying queuing theory to schedule.
6. Inventory control deals with balance act and supply chain management. Five major and legitimate justifications for holding inventory are Pipeline, Cycle, Safety, Anticipatory, and Speculative.
7. Standard and Control are the pair of the key aspect in business operation. Standardize the product specs, the manufacture procedures, and the qualities ensure an efficient production flow, measure and quality control. Standards provide a reference or measure for entire production control, while the tight control ensure all the products align with the same high standards.
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