Podcast
Questions and Answers
Which of the following is NOT a key aspect of competing on response?
Which of the following is NOT a key aspect of competing on response?
What is the primary goal of experience differentiation?
What is the primary goal of experience differentiation?
Which of the following is a potential risk associated with outsourcing?
Which of the following is a potential risk associated with outsourcing?
What is the purpose of the Resource View in operations strategy?
What is the purpose of the Resource View in operations strategy?
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What is a core competency?
What is a core competency?
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What is the primary purpose of SWOT analysis?
What is the primary purpose of SWOT analysis?
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What is the Value chain analysis used for?
What is the Value chain analysis used for?
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What is NOT a characteristic of outsourcing?
What is NOT a characteristic of outsourcing?
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What is the primary purpose of the factor-rating method in outsourcing?
What is the primary purpose of the factor-rating method in outsourcing?
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In Claudia Pragram's decision-making process, which criterion has the highest weighting?
In Claudia Pragram's decision-making process, which criterion has the highest weighting?
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What effect would doubling the weights during provider selection have based on the example provided?
What effect would doubling the weights during provider selection have based on the example provided?
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Which of the following factors is considered in the factor-rating method for evaluating outsource providers?
Which of the following factors is considered in the factor-rating method for evaluating outsource providers?
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What cultural consideration is important to Ranga Ramasesh when selecting an outsourcing provider?
What cultural consideration is important to Ranga Ramasesh when selecting an outsourcing provider?
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Which of the following is NOT a criterion listed for Claudia Pragram's outsourcing decision?
Which of the following is NOT a criterion listed for Claudia Pragram's outsourcing decision?
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How is risk categorized in the decision-making process described in the exercise for Claudia Pragram?
How is risk categorized in the decision-making process described in the exercise for Claudia Pragram?
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What overall challenge do operation managers face in outsourcing beyond selecting providers?
What overall challenge do operation managers face in outsourcing beyond selecting providers?
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What is a critical factor that allows Boeing to maintain competitiveness in the market?
What is a critical factor that allows Boeing to maintain competitiveness in the market?
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Which element is NOT impacted by globalization according to the provided content?
Which element is NOT impacted by globalization according to the provided content?
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Which reason is one of the primary motivators for domestic businesses to shift to international operations?
Which reason is one of the primary motivators for domestic businesses to shift to international operations?
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What does the term 'competitive advantage' imply in the context of operations management?
What does the term 'competitive advantage' imply in the context of operations management?
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Which of the following is a focus of operations managers to achieve competitive advantage?
Which of the following is a focus of operations managers to achieve competitive advantage?
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What defines the organization’s purpose and rationale for existence?
What defines the organization’s purpose and rationale for existence?
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Which company is cited as having a supply chain that spans multiple countries for its products?
Which company is cited as having a supply chain that spans multiple countries for its products?
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Which of the following is NOT one of the six reasons domestic operations might shift to international operations?
Which of the following is NOT one of the six reasons domestic operations might shift to international operations?
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Flashcards
Globalization
Globalization
The process of expanding operations and supply chains worldwide.
Supply Chain Improvement
Supply Chain Improvement
Enhancing performance and efficiency in sourcing and delivery.
Cost Reduction
Cost Reduction
Lowering expenses to improve profitability and competitiveness.
Mission of an Organization
Mission of an Organization
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Strategy in Operations
Strategy in Operations
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Competitive Advantage
Competitive Advantage
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Differentiation
Differentiation
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Forecasting in Operations Management
Forecasting in Operations Management
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Experience Differentiation
Experience Differentiation
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Low-Cost Leadership
Low-Cost Leadership
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Response in Operations
Response in Operations
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Resource View
Resource View
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Value Chain Analysis
Value Chain Analysis
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Porter’s Five Forces Model
Porter’s Five Forces Model
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Key Success Factors (KSFs)
Key Success Factors (KSFs)
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Outsourcing
Outsourcing
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Factor-rating method
Factor-rating method
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Criteria in outsourcing
Criteria in outsourcing
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Weighting criteria
Weighting criteria
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Risk-avoidance
Risk-avoidance
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Cultural risk factors
Cultural risk factors
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Operations manager
Operations manager
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Provider selection
Provider selection
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Study Notes
IE10 - Operations Management
- The course covers operations management, specifically focusing on the introduction to the topic.
- The table of contents outlines the following topics: operations and productivity, operations strategy in a global environment, project management, and forecasting.
- Operations Strategy in a Global Environment is a key part of the course.
Global View of Operations & Supply Chains
- Boeing's success stems from its worldwide sales and supply chains.
- Benetton rapidly moves inventory globally through effective communication and flexible design.
- Sony's supply chain extends across multiple countries for electronic product assembly and distribution.
- Volvo, now owned by Geely, assembles cars globally on shared platforms (e.g., Mazda 3, Ford Focus).
Globalization Impact
- Globalization encompasses worldwide customers, talent, and suppliers.
- Key impacts on companies due to globalization include quality, variety, customization, convenience, timeliness, and cost.
- Companies seek international operations to enhance supply chains, reduce costs, improve operations, understand markets, and acquire global talent.
Determining Missions & Strategies
- Mission defines the purpose or contribution of an organization to society.
- Strategy is the action plan to achieve the mission and is more manageable if the mission is clearly defined.
Achieving Competitive Advantage
- Competitive advantage arises from creating a system superior to competitors in differentiation, low cost, and response.
- Differentiation focuses on unique customer experiences, using customer senses for engagement and immersion in the product.
- Low-cost leadership aims to maximize value as determined by the customer.
Response-based Competitive Advantage
- Flexibility in response is vital in dynamic market conditions with fluctuating design innovations and volumes.
- Timely product development, delivery, and scheduling are crucial for effective response.
- Reliability of scheduling is another key aspect of competitive response.
Operational Strategy Issues
- A vital perspective is the resource view, considering financial, physical, human, and technological resources and their compatibility with potential strategies.
- Value chain analysis helps identify activities that represent strengths or potential strengths to enhance competitive advantage.
Porter's Five Forces Model
- Porter's Five Forces is a framework for identifying and analyzing competitive pressures within an industry.
- The model analyzes threat of new entrants, rivalry among existing competitors, bargaining power of suppliers, bargaining power of buyers, and threat of substitutes.
Strategy Development & Implementation
- SWOT analysis is a strategic management tool for assessing internal strengths and weaknesses and external opportunities and threats.
- Companies engage in SWOT analysis to understand internal strengths and weaknesses and external opportunities and threats to develop strategies.
- Question examples for SWOT are: What do we do well? What dissatisfaction among our customers? Where do we fall short of our competitors?
Key Success Factors & Core Competencies
- Key success factors (KSFs) are activities crucial for achieving organizational goals.
- Core competencies are unique skills, talents and capabilities that a firm excels in, at a world-class standard.
Strategic Planning, Core Competencies, & Outsourcing
- Outsourcing tasks traditionally handled within a company to external providers is a strategic move.
- Outsourcing is an agreement (often legally binding) with an external organization for tasks.
Outsourcing Risks & Issues
- Outsourcing often faces risks due to poor planning and analysis.
- Timely delivery and quality standards are vital considerations in outsourcing.
- Customer satisfaction can decrease after outsourcing service elements.
- Outsourcing may cause reduced employment, facility changes, system adjustments, and logistics expansion.
Outsourcing Advantages & Disadvantages
- Advantages include cost savings, gaining specialized expertise, improving operations/service, focusing on core competencies, and accessing external technology.
- Disadvantages comprise increased logistics costs, loss of quality/delivery control, future competition, negative employee impact, and long-term risk.
Rating Outsourcing Providers
- The Factor-rating method evaluates outsourcing providers based on objective factors such as quality, delivery, price, and service.
- This method employs factors like importance weights and ratings score to select the best option.
Example: Rating Provider Selection Criteria & Exercise #2
- Case studies illustrate practical application of the factor-rating method in selecting outsourcing providers.
- Examples involve ranking providers based on criteria for cost reduction, capital investment, and skilled personnel.
- Risk avoidance techniques and cultural factors are also significant in selecting the right countries.
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Description
Explore the fundamentals of operations management in this quiz, which includes key topics such as productivity, global operations strategy, project management, and forecasting. Delve into the effects of globalization on supply chains and the strategies of companies like Boeing, Sony, and Volvo in the global market.
