Operations Management (OM)

Course Description: 

Operations Management (OM) has been a driving force in the improvement of business practice around the world. As a result of innovations in technology and the application of management techniques in managing the organizational affairs, operation management is gaining more importance.

The course study of OM intends to impart knowledge to students on the concepts, techniques and tools to design, analyze, and improve operational capabilities of the organizations. It is majorly concerned with the management of resources, and efficient production and distribution of products and services as a key component for any manufacturing business. Special emphasis is placed on process improvement and  removal of uncertainty in decision-making processes within the organization’s daily operations. Topics covered by the course includes production control, quality management, process design, revenue management, and risk management.

Course Objectives: 

After undertaking the course, students will be able:

  1. To understand the role of operations management in creating and enhancing competitive advantage for the firm.
  2. To understand the various operational concepts and issues related to the functioning of service sectors and manufacturing firms
  3. Understand the importance of interrelationship between the various functional areas of the firm
  4. To apply quantitative approaches to decision making while making business decisions.
  5. To develop essential skills for making decisions related to production and development of products and services
  6. To develop essential managerial expertise and decision making skills required to make financial and marketing-related decisions
Course Syllabus: 

Operations and Productivity

  • Introduction
  • Production and Productivity
  • Production Management
  • Objectives of Production Management
  • Operations management and its functions
  • Operations in the service sector
  • Productivity challenge
  • Productivity measurement
  • Productivity variables
  • Productivity and the service sector
  • Competitive advantage through operations:

Design of Goods and Services

  • Goods and services selection
  • Product development
  • Issues for product design
  • Time based competition
  • Defining the product
  • Documents for production
  • Service design

Managing Quality

  • Quality and Strategy
  • Defining quality
  • International quality standards
  • Total quality management
  • Tools of TQM, Role of inspection
  • TQM in services

Process Strategy

  • Four process strategies
  • Process analysis and design
  • Service process design
  • Process Reengineering
  • Environment friendly processes
  • Selection of equipment and technology

Capacity Planning

  • Capacity, Design and effective capacity
  • Capacity and strategy
  • Capacity Considerations
  • Managing demand
  • Demand and capacity management in the service sector
  • Capacity planning
  • Applying break-even analysis and decision trees to capacity decisions

Location Strategies

  • Strategic importance of Location
  • Factors that affect location decisions
  • Methods of evaluating location alternatives
  • Advantage of Urban, suburban and rural locations
  • Plant Location problem
  • Service location strategy

Layout Strategies

  • Strategic importance of Layout Decisions
  • Types of layout
  • Fixed position layout
  • Process-oriented layout
  • Office layout
  • Retail layout
  • Warehousing and Storage layouts
  • Repetitive and Product- oriented layout.

Supply – Chain Management

  • Strategic importance of the Supply - Chain
  • Purchasing
  • Supply-chain strategies
  • Vendor selection

Inventory Management

  • Functions of Inventory
  • Inventory Management
  • Inventory Models
  • Inventory Models for Independent Demand

Aggregate Planning

  • Planning Process
  • Nature of Aggregate Planning
  • Aggregate Planning Strategies
  • Methods for Aggregate Planning
  • Aggregate Planning in services
  • Material requirements planning (MRP): Dependent Inventory Model requirements
  • MRP structure
  • MRP management
  • Lot sizing techniques
  • MRP in services

Short-Term Scheduling

  • The strategic importance of short term scheduling
  • Scheduling issues
  • Sequencing method

Work and method study

  • Importance of work study
  • Work study procedures
  • Time study
  • Human considerations in work study
  • Introduction to method study
  • Objectives of method study
  • Steps involved in method study Work measurement
  • Objectives of work measurement
  • Techniques of work measurement
  • Computation of standard time
  • Allowance
  • Comparison of various techniques