Session 1

Topics: Management, Process management, Industrial engineering Pages: 18 (1758 words) Published: April 19, 2015
BUAD 311 – Spring 2015

1

As you’re coming in…
• Sit in the first few rows, please
• Introduce yourself to your neighbors (front/back, side to side,

diagonal)
• Find out why each of them is taking this course
• Talk about what you’ve heard (good and bad) about this course • Talk about what you think “operations management” means

BUAD 311 – Spring 2015

Introduction to Operations Management
Prof. Vishal Gupta

2

BUAD 311 – Spring 2015

Today
• Introductions
• What is operations management?
• Why study it?

• Process analysis intro
• Administration and logistics
• Course Overview and Learning Objectives
• Assignments & grading

3

4

BUAD 311 – Spring 2015

Who am I?
• Born and raised in New York
• Background: Operations + Data Analytics
• BA Mathematics and Philosophy, Yale
• Mathematics Tripos, Cambridge University
• PhD Operations Research, MIT

• Work experience
• 5+ years at Barclays Capital (London, NY)
• Supply-chain / analytics consulting
• New England electricity market
• My first year here at Marshall!

Source : http://cleantechnica.com/files/2014/04/wind-turbines17.jpg

BUAD 311 – Spring 2015

5

Who are you?

Source : http://quizimg2.whichblankareyou.com/Q1530.png

BUAD 311 – Spring 2015

What is operations management?

6

7

BUAD 311 – Spring 2015

Informally…
• Organizations perform many different processes as part of their

mission
• Process: Coordinated tasks to achieve specific business goal

Inputs

Process

(customers,
materials, …)

(action, production,
…)

Outputs
(service, goods, …)

• OM focuses on
• Optimizing individual process
• Redesigning/coordinating systems of multiple processes

BUAD 311 – Spring 2015

8

Example: Apple
• What are all the things Apple does to sell you an iPhone?

• Again, OM focuses on
• Optimizing individual process
• Redesigning/coordinating systems of multiple processes

• Some people liked to think of it as a “managerial integration” function

BUAD 311 – Spring 2015

9

Question
• Consider AstraZeneca (pharmaceutical company) which sells Crestor

(a cholesterol reducing medication)
• Do they engage in any similar processes?
• Of course! (e.g., innovation)

• Is there a “best” way to design these processes that both Apple and

AstraZeneca should adopt?
• Probably not. (Context dependent)

• OM requires
• Qualitative understanding of the tradeoffs between design decisions • Quantitative modeling to assess processes and prioritize improvements • Broad, “systems” perspective of an organization
• Understanding connections to other business units

BUAD 311 – Spring 2015

Another question
• What does it mean to “optimize” a process?
• Depends…
• Reduce costs
• Increase profits
• Increase customer satisfaction
• Perform faster
• Improve quality / variety
• Simplify procedures
• Increase safety

10

BUAD 311 – Spring 2015

11

More formally,
From the syllabus,
“[Operations managers] are responsible for the systematic planning, designing, operating, controlling and improving the various procurement, production, storage, and shipping processes involved from the time the product or service is designed till customer delivery occurs. The challenge for operations managers is to produce goods and services and deliver them in an efficient manner and in accordance with the business strategy of their company. Typically, this involves balancing the needs for satisfying customer demand, on-time delivery, lower costs, and higher quality.”

BUAD 311 – Spring 2015

Why study ops?

12

Reason 1: Be a leader
CEOs of S&P 500 companies


42%
31%
24%

42% had Operations
experience at some
point in their career

17%

31%



31% were in Operations
immediately before becoming
CEO

21%

12%
6%

Source: Spencer Stuart “Route to the top” Survey, 2008

BUAD 311 – Spring 2015

14

Operations as comparative...
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