Operations Management and Competitive Advantage
What do Operation Managers do?
Design the business’s production/service delivery systems.
Overseeing these systems, their employees and their functionality.
Optimizing these systems to ensure that they perform as efficiently as possible.
Most customers prefer:
A lower price
or
A higher price
A lower price
Define quality?
Goods and services that are reliable, dependable, and psychologically satisfying
Why is it important to maximize efficiency?
it helps reduce costs, increases competitive advantage, enhances productivity
How Can Operation Managers Improve Their Business?
By improving quality of goods and services. (More reliable, dependable and psychologically satisfying.)
By improving efficiency of production systems. (Minimizing the amount of inputs needed to get the desired output.)
By improving responsiveness to customer demands and needs. (Listening to customer reviews, suggestions, requests and figuring out how to implement it into the production system.)
What is Customer Relationship Management?
The combination of practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle.
Increased Reliability + Productivity=?
Increased Quality
How does superior efficiency help reduce costs?
Processes, resources, and work flows are working at optimal levels, business are capable of accomplishing a lot more with fewer inputs such as time, labor, materials and energy.
A Business Production Systems is a systems that operation managers design, implement, manage and optimize inputs and outputs. True or False?
True
What are the 2 girls names in our group?
Isabella and Maggie
What are 2 reasons why achieving superior quality is so important?
Any 2 of these
Customer Satisfaction
Reputation
Competitive Advantage
Cost Savings
Employee Morale
Legal and Regulatory Compliance
Superior quality gives corporations a competitive advantage. True or False?
True