The growing interdependence of business functions such as marketing, accounting, finance, information systems, and engineering requires effective and efficient operations management strategies and practices. The main objective of this course is to develop basic skills and knowledge necessary for managing the operations function in both manufacturing and service delivery firms. Special emphasis will be placed on contemporary issues facing operations managers such as supply chain structure and strategy, enterprise resource planning issues, product and process design, process management, value chain, and lean systems. Another objective of this course is to develop analytical skills necessary to identify and solve problems in the operations management arena.
- Understand important operations management terms and concepts and how they are related to one another.
- Analyze the relationship between cost, quality, delivery, flexibility and innovation, and how the operations strategy is related to business strategy and corporate strategy.
- Analyze the relationships between operations and other functional areas of a business such as marketing, finance, accounting, human resources, information systems, and logistics/ transportation and how they can work together to achieve the business strategy.
- Design and improve systems that help achieve the operations strategy using tools such as Six Sigma and Lean Principles.
- Understand the synergies between principles of quality management and product development and innovation and how they complement each other.
- Identify the advantages and limitations of operations planning and control systems such as inventory theory, and forecasting models, etc.
- Apply operations management tools such as forecasting models, control charts, quality tools, economic order quantity, and safety stock models.
- Demonstrate knowledge about the dynamics of a supply chain, logistics and purchasing, and their impact on the organizational performance.