Operations & Supply Chain Management

week

topic

1

• Introduction
• Course overview
• Syllabus

1st part: Make-up of last's semester's Marketing class, which was shortened by 2 weeks due to holidays and special events (in green fonts)

Chapter 5 (Marketing textbook):
Managing Marketing Information

• The importance of information to the company
• Defining the marketing information system
• The steps in the market research process
• How companies analyze and distribute information
• Special issues facing market researchers

Chapter 6 (Marketing textbook):
Consumer and Business Buyer Behavior

• Consumer markets and factors that influence consumer buying behavior
• The buyer consumer buying decision process
• The adoption and diffusion process for new products
• Business markets and factors that influence business buyer behavior
• The business buying decision process

2

2nd part: Fundamentals of Strategic Management to prepare for the computerized assessment test for acceptance by Northumbria University (in blue fonts)

Chapter 1 (Strategy textbook):
THE NATURE OF STRATEGIC MANAGEMENT

• Defining Strategic Management
• Key Terms in Strategic Management
• The Strategic-Management Model
• Benefits of Strategic Management
• Why Some Firms Do No Strategic Planning
• Pitfalls in Strategic Planning
• Guidelines for Effective Strategic Management
• Business Ethics and Strategic Management
• Comparing Business and Military Strategy (Sun-Tzu)
• The Nature of Global

Chapter 2 (Strategy textbook):
THE BUSINESS VISION AND MISSION

• What Do We Want to Become?
• What is Our Business?
• Importance of Vision and Mission Statement
• Characteristics of a Mission Statement
• Components of a Mission Statement
• Writing and Evaluating Mission

3

!!! Quiz !!!

Chapter 3 (Strategy textbook):
THE EXTERNAL ASSESSMENT

• The Nature of an External Audit
• The Industrial Organization (I/O) View
• Economic Forces
• Social, Cultural, Demographic, and Environmental Forces
• Political, Governmental, and Legal Forces
• Technological Forces
• Competitive Forces
• Competitive Analysis: Porter’s Five-Forces Model
• Sources of External Information
• Forecasting Tools and Techniques
• The Global Challenge
• Industry Analysis: The External Factor Evaluation (EFE) Matrix
• The Competitive Profile Matrix (CPM)

Chapter 4 (Strategy textbook):
THE INTERNAL ASSESSMENT

• The Nature of an Internal Audit
• The Resource-Based View
• Integrating Strategy and Culture
• Management
• Marketing
• Finance/Accounting
• Production/Operations
• Research and Development
• Management Information Systems
• The Internal Factor Evaluation (IFE) .

4

!!! Quiz !!!

Chapter 5 (Strategy textbook):
STRATEGIES IN ACTION

• Long-Term Objectives
• Types of Strategies
• Integration Strategies
• Intensive Strategies
• Diversification Strategies
• Defensive Strategies
• Michael Porter’s Generic Strategies
• Means for Achieving Strategies
• First Mover Advantages
• Outsourcing
• Strategic Management in Nonprofit and Governmental Organizations
• Strategic Management in Small Firms

Chapter 6 (Strategy textbook):
STRATEGY ANALYSIS AND CHOICE

• The Nature of Strategy Analysis and Choice
• A Comprehensive Strategy-Formulation Framework
• The Input Stage
• The Matching Stage
• The Decision Stage
• Cultural Aspects of Strategy Choice
• The Politics of Strategy Choice
• Governance Issues

5

!!! Midterm Exam !!!

3rd part: Operations and Supply Chain Management (in red fonts)

Book review: “The Goal”  (O&SCM textbook):

6

!!! Quiz !!!

Team presentation 1A

Chapter 1 (O&SCM textbook):
Products, Processes, and Performance
 
The Process View of Organizations. Performance Measures. Products and Product Attributes.  Processes and Process Competencies. Process Design, Planning, and Control. The Plan of the Book.

7

!!! Quiz !!!

Team presentation 2A

Chapter 2 (O&SCM textbook):
Operations Strategy and Management.
 
Introduction. Strategic Positioning and Operational Effectiveness. The Strategy Hierarchy. Strategic Fit. Focused Operations. Matching Products and Processes. The Operations Frontier and Trade-offs. The Evolution of Strategy and Operations Management.

PART II. PROCESS FLOW MEASUREMENT.

8

!!! Quiz !!!

Team presentation 3A

Chapter 3 (O&SCM textbook):
Process Flow Measures.
 
The Essence of Process Flow. Three Key Measures. Flow Time, Flow Rate, Inventory Daynamics. Throughput in a Stable Process. Little's Law: Relating Average Flow Time, Throughput, and Average Inventory. Analyzing Financial Flows through Financial Statements.  Inventory Turns (Turnover Rtio). Using Operational Measures to Improve Financial Measures: What Do We Mean by " An Improvement"?

9

!!! Quiz !!!

Team presentation 4A

Chapter 4 (O&SCM textbook):
Flow-Time Analysis.
 
The Process Flow Chart. Flow Time MEasurement. Theoretical Flow Time. Levers for Managing Threoretical Flow Time

!!! Quiz !!!

Team presentation 1B

Chapter 5 (O&SCM textbook):
Flow-Rate and Capacity Analysis.
 
Resources and Resource Pools. Flow Rate Measurement. Effect of Product Mix on Theoretical Capacity and Profitability of a Process. Other Factors Afecting Process Capacity. Levers for Managing Throughput Time

!!! Quiz !!!

Team presentation 2B

Chapter 6 (O&SCM textbook):
Inventory Analysis.
 
Inventory Classification.  Inventory Benefits. Inventory Costs. Inventory Dynamics of Batch Purchasing. Economies of Scale and Optimal Cycle Inventory. Effect of Lead Times on Ordering Decisions. Price Discounts: Forward Buying. Levers for Managing Inventories.

PART III. PROCESS FLOW VARIABILITY.

12

!!! Quiz !!!

Team presentation 3B

Chapter 7 (O&SCM textbook):
Managing Flow Variability: Safety Inventory.
 
Demand Forecasts and Forecast Errors. Safety inventory and Service Level.Optimal Service Level: The Newsvendor Problem. Lead Time Demand Variability. Pooling Efficiency through Aggregation.  Shortening the Forecast Horizon through Postponement. Levers for Reducing Safety Inventory

13

!!! Quiz !!!

Team presentation 4B

Chapter 8 (O&SCM textbook):
Managing Flow Variability: Safety Capacity.
 
Service Process and Its Performance. Effect of Variability on Process Performance. Drivers of Process Performance. Performance Improvement Levers. Effect of Pooling Capacity. Effect of Buffer Capacity.  Capacity Investment Decisions.  Variability in Process Performance. Managing Customer Perceptions and Expectations

14

Chapter 9 (O&SCM textbook):
Managing Flow Variability: Process Control and Capability.
 
Performance Variability.  Analysis of Variability. Process Control. Process Capability. Process Capability Improvement. Product and Process Design.
PART IV. PROCESS INTEGRATION.

Chapter 10 (O&SCM textbook):
Lean operations: Process Synchronization and Improvement.
 
Processing Networks. The Process Ideal: Synchronization and Efficiency. Waste and its Sources. Improving Flows in a Plant: Basic Principles of Lean Operations. Improving Flows in a Supply Chain.  The Improvement Process.

15

!!! Final Exam !!!