100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
CIPS L5M9 Operations Management LO1 $13.49   Add to cart

Exam (elaborations)

CIPS L5M9 Operations Management LO1

 13 views  0 purchase
  • Course
  • Institution

CIPS L5M9 Operations Management LO1

Preview 2 out of 12  pages

  • March 18, 2024
  • 12
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
avatar-seller
CIPS L5M9 Operations Management LO1
Operations Management

The processes of managing the resources and processes involved in the acquisition and transformation
of inputs and the distribution of outputs.

Five Key Performance Dimensions / Performance Objectives - Slack and Brandon-Jones

1. Quality
2. Speed
3. Dependability
4. Flexibility
5. Cost

Quality

Producing products and services that satisfy customer needs.

Speed

Ensuring a short lapse of time between when orders are made and fulfilled.

Dependability

Producing products that are reliable and consistent.

Flexibility

Adapting to changes in demand or marketplace changes.

Cost

Producing products and services at minimum cost.

Operation

Smallest divisible piece of work or activity within an organisation. CREATING FLOW

Production Methods

1. Make to Order - craft production. Does not commence until an order has been received.
2. Mass Production - make to stock - low variety / high volume
3. Mass Customisation / Late Customisation - mix between made to order and mass production.
Products standardised to a certain point e.g. Dell

ITO

Input - Transformation - Output
The market is the point in which an output transforms into an input

Input

, * Materials
* Information
* Customers

Transformation

* Facilities
* Staff
* Infrastructure e.g. road, rail, air
* IT
* Marketing

Four V's

1. Volume - quantity of products / services produced
2. Variety - of products / services produced
3. Visibility - of the process to customers
4. Variation - changes in demand for products / services

Order Qualification

Competitive standards that make an organisations products viewed as fit for purpose by customers

Order Winning

Standards that separate the products from on organisation to another

Hayes & Wheelwrights 4 Stages of Operations Readiness

1. Internal Neutrality
2. External Neutrality
3. Internally Supportive
4. Externally Supportive

Internal Neutrality

Operations function makes a minimal contribution to the overall corporate strategy.
Stage 1 - correct the worst problem

External Neutrality

Operations function compares itself with similar businesses or organisations. Actively keeping pace with
comparable companies in the same industry.
Stage 2 - adopt best practice

Internally Supportive

Operations management function delivers the best capabilities to the organisation, contributing to the
organisations overall competitive strategy.
Stage 3 - link strategy with operations

Externally Supportive

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICAIDSTORE. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80364 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart