Operations Management [EGESB332]

Learning outcomes

This course provides a general introduction to operations management. Operations Management studies the process by which inputs of materials, labor, capital and information are transformed into products and services which the consumers are willing to pay for. These processes can be managed well or poorly. Knowledge introduced in this course will help you understand the reasons for both.

The main objective of this course is to introduce tools and techniques that are needed to understand operations and supply chain processes and to provide students with the ability to analyze and continuously improve these processes.

Objectives

Critical and Integrative Thinking

Each student shall be able to identify key issues in a business setting, develop a perspective that is supported with relevant information and integrative thinking, to draw and assess conclusions. Assessment: case reports, final exam

Content

Table of contents

1. Introduction to Operations Management: Objective and challenges in Operations Management. Introduction to manufacturing processes
2. Application of Process Analysis. Little’s Law
3. Capacity analysis: inventory build-up diagrams.
4. Application of capacity analysis.
5. Introduction to Queueing Theory
6. Application of Queueing theory: Cost of waiting with random arrivals and service times
7. Inventory management: Introduction to inventory management and economic order quantity model (EOQ)
8. Safety-stock: Fixed order quantity and periodic review inventory models
9. Newsvendor model: Introduction and application of newsvendor’s model
10. Beergame (simulation): Order fluctuations in supply chains. Bullwhip effect: Cause of order fluctuations in supply chains
11. Mock exam
12. Final review: Question and answers

Exercises description

Group assignments answering questions based on business cases that will be discussed in class. The questions for each homework will be posted online on the course website on Webcampus. 2 assignments expected in the term.