1. Chapter -03 summary

2. Main point of discussion Four perspectives of Operations strategy
Main point of discussion Four perspectives of Operations strategy. Operation strategy is like a chef tasting the food.( understand the taste and if necessary enhance)

3. Operations strategy is similar to a map that a traveler uses
Operations strategy is similar to a map that a traveler uses. We have discussed operations objectives, now how to reach there is decided by the strategy.
Operation strategy
Operation objective
Other
Short term
Long term
Who, what
how

4. Strategic decisions Strategic decisions are having following characteristics or features 1. The decisions that is affecting the organization in every sense and wide spread. 2. Explain the position of an organization in the given situation. 3. Taking organization to long term goals.

5. What is strategy? Is pattern or style of decisions or actions that influence long – term direction of business. Operations and Operational is different. Operations – the resources for the production of goods and services. Operational – Day-to-day activities

6. Top- down perspective corporate strategy deciding what type of business to do, where to operate, and how to invest or allocate cash. Bottom – up Perspective taking the experience from different operations while making strategy. Market Requirement Perspective Satisfy the market

7. How customers influence on performance objectives
How customers influence on performance objectives? If customer value low priced goods/services, the operation will concentrate on cost. If customers want fast delivery, the operations will target speed, if customers consider selection of goods and services, the operation will look for flexibility.

8. The operations resource perspective
The operations resource perspective. Understanding and developing the capabilities of operations resources.

9. 5 Ps of operations strategy formulation
5 Ps of operations strategy formulation. Purpose point of entry process project management participation

10. PLC and operational strategy Introduction – New product and services, Flexibility is evident. Growth – competitors grows, dependability, flexibility, speed maters. Maturity stage- Demand reaches the maximum, Operation consider cost. Decline stage- Sales go down, cost become an important factor.