PRODUCTION AND OPERATIONS MANAGEMENT

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Presentation transcript:

PRODUCTION AND OPERATIONS MANAGEMENT INTRODUCTION PRODUCTION AND OPERATIONS MANAGEMENT

1 Operations management (OM) is defined as the design, operation, management and improvement of the systems that create and deliver the firm’s primary products and services McGraw-Hill/Irwin

Manufacturing Manufacturing is the transformation of raw materials into finished goods for sale, or intermediate processes involving the production or finishing of semi-manufactures.

Service Definitions Services are deeds, processes or performances. OR A service is a time-perishable, intangible experience performed for a customer acting in the role of a co-producer

Definition of Service Firms Service enterprises are organizations that facilitate the production and distribution of goods, support other firms in meeting their goals, and add value to our personal lives.

Percent Service Employment for Selected Nations ( Source not Authenticated)

Stages of Economic Development in Pakistan ( Note overlap in Industrial and Post Industrial)

Responsibilities of Operations Management Forecast Capacity Scheduling Inventory Quality Human Resources Decision Making Location Facility Layout Products & services Acquisition and placement of equipment

Decision Making Models Quantitative approaches Analysis of trade-offs Systems approach

Models A model is an abstraction of reality. Physical 1 2 Schematic 3 Mathematical