Product design is one of the crucial stages in Operations Management. The design of a product or service is one of the most important steps. This will definitely affect the earnings of the product. The basic limiting characteristics of the production system design are set during the product design...
Operations Management Facility Location In company’s strategy formulation, the type of goods and services it shall offer, the markets in which it will compete will be determined. Demand forecasts are made to estimate the demand for a particular product in various markets. In this regard the company’s strategy will also...
Operations Management – Transportation Models Transportation models are a special type of linear programming models. These models are applicable not only for solving problems of transportation but also for solving a variety of industrial problems. Usually such problems have a large number of variables and constraints. Though possible, the computational...
A Process-Oriented Layout can simultaneously handle a variety of products and services. This is the traditional way to support a product differentiation strategy. It is most efficient when making products with different requirements or when handling customers, patients, or clients with different needs. A process oriented layout is typically...
Operations and Operations Management Operations and Operations Management are of strategic importance to an organization. This is because all of the aspirations that modern day organizations have to excel in any of the following – mass customization, lean production, agile manufacturing, customer-centric provision and so on – depend on the...
Location Strategy in Operations Management is an important factor to be considered. It is important because it helps in determining the place of manufacture. The place of manufacture needs to have certain qualities of features where the manufacturing process takes place hassle-free. Center of Gravity is one such method or...
The concept of Lean Manufacturing was first seen Japan particularly in Toyota Production System. The concepts, tools and techniques had gone through a lot of testing before they were accepted. Lean Manufacturing intends to revolutionize the manufacturing process. This was not a fine tuning that had been done on the...
Businesses and retail consumers have an ever-increasing range of products to choose from, so manufacturing businesses face constant competition in order to retain or increase their market share. Manufactures therefore need to be flexible in considering new ways of working as well as new technologies that will allow them...
Economic Order Quantity (EOQ) Economic Order Quantity is the level of inventory that minimizes the total inventory holding costs and ordering costs. It is one of the oldest classical production scheduling models. The framework used to determine this order quantity is also known as Wilson EOQ Model or Wilson Formula. The...
ABC Analysis ABC analysis is a business term used to define an inventory categorization technique often used in materials management. It is also known as Selective Inventory Control. ABC analysis provides a mechanism for identifying items that will have a significant impact on overall inventory cost, whilst also providing a mechanism...
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