Unit 1113: Operations Management

1. Introduction to Operations Management

• Definition and scope of operations management
• Role of operations management in organizations
• Importance of operational efficiency
• Key objectives: cost, quality, flexibility, delivery, and innovation

2. Operations Strategy

• Defining operations strategy and its purpose
• Aligning operations strategy with overall business strategy
• Types of operations strategies (cost leadership, differentiation, focus)
• Factors influencing strategic decision-making: market demand, technology, competition, resources

3. Supply Chain Management

• Concept and components of supply chain
• Flow of goods and services: from raw materials to end consumers
• Coordination and collaboration among supply chain partners
• Strategies for optimizing supply chain performance: just-in-time, vendor-managed inventory, information sharing

4. Inventory Management

• Types of inventory: raw materials, work-in-progress, finished goods, maintenance/repair/operations
• Inventory control methods: ABC analysis, EOQ, safety stock, reorder point
• Costs associated with inventory: holding, ordering, shortage costs
• Importance of effective inventory management for cost minimization and customer satisfaction

5. Quality Management

• Principles of quality management
• Total Quality Management (TQM) concepts and implementation
• Quality control techniques: statistical process control, inspection, sampling
• Quality assurance processes and standards (ISO, Six Sigma)
• Role of quality in operational excellence and customer satisfaction

6. Capacity Planning

• Definition and importance of capacity planning
• Forecasting demand to determine capacity needs
• Evaluating capacity requirements: design capacity vs effective capacity
• Managing capacity constraints and bottlenecks
• Balancing capacity with fluctuating demand through strategies like capacity expansion, subcontracting, and demand management

7. Lean Operations

• Principles of lean management: waste reduction, value creation, continuous improvement
• Types of waste (TIMWOOD): Transportation, Inventory, Motion, Waiting, Overproduction, Overprocessing, Defects
• Value stream mapping to identify inefficiencies
• Lean tools and techniques: 5S, Kaizen, Kanban, Just-in-Time

8. Six Sigma

• Overview of Six Sigma methodology
• Focus on process improvement and defect reduction
• The DMAIC process: Define, Measure, Analyze, Improve, Control
• Role of data-driven decision making in Six Sigma
• Benefits and challenges of Six Sigma implementation in operations

9. Logistics Management

• Fundamentals of logistics and its role in supply chain
• Transportation management: modes, selection criteria, cost considerations
• Warehousing: functions, types, layout, and management
• Distribution management and order fulfillment
• Coordinating logistics activities to ensure timely and cost-effective delivery