Essay on JGT Task 1

| Not being able to respond to consumer wants/demands quickly enough, leading to short-term revenue loss

The Utah Symphony received approximately 5% of its incoming from their endowment fund annually. The organization raised $3,829 in revenue from rental fees, sets, props, costumes, box office, etc. However, the symphony believes that the fundraising contributions are sufficient enough currently to allow ticket prices to remain the same as the prior year is successful. The up side is that there was a $116,308 in surplus at the end of the year.

B/B1- My original strategy was to focus on the niche market, only have 50 different pairs of shoes, higher quality and higher price. But I saw that the market was a lot different at first then that and that I was in 8th place. I decided to change after the first round to be more of a lowest price, match the features and performances of everyone else, but also have the biggest availability of everyone. This worked out for me up until the 17th round, I thought that I had 10 rounds not 8 to make choices on, that is when I made a horrible choice and bought a lot of production with a 1 yr loan and so the final year all that loan was due and my overall score fell down 43 points taking me out of 3rd place back to

The initial results revealed that in order to reduce the production costs they needed to work with the customers to change some of the previous behaviors that increased the production costs. These changes included ordering behavior as well as reducing the demand for customized products. The data obtained also revealed that prior decisions could also affect the full implementation of the system. In this case, prior commitments did not allow the company to take the necessary steps to completely reduce the costs as suggested by data obtained from the

As my course in Operations Management comes to an end it is time for me to analysis all that I have learned in MGTU-315. To reflect on the knowledge I’ve gained from key concepts, and putting them to practical use in analyzing the operations strategy, performance, and the planning and control of our group project. In this essay I will discuss what key concepts and their relationships with various mythologies, along with my thoughts on how they may be applied in real situations at work. As an example I will be using the issues I had my summer in my small business.

Authorized for use only in the course EMBA 816 Production and Operations Management at University of Regina taught by James Mason from Jan 03, 2015 to Apr 30, 2015. Use outside these parameters is a copyright violation.

The second scenario is to determine how the production processes can affect the company profit. When the demand rises, I think that upgrading production process in machineries can improve the operation efficiency and effectiveness. Therefore, I choose to upgrade the production process and reset the price at $2200 which generates $2.21 profits with 9.4 million units in demand.

Operations managers face several challenges in today’s world. For example, they are increasingly encouraged to do more with less. This translates into developing methods to maximize existing resources. They must be knowledgeable on emerging technology that will increase productivity in an efficient manner. They must be able to motivate and derive maximum performance from those that they lead. Finally, operations managers must be able to have an evolving understanding of globalization and environmental changes.

Operations Management involves the management of the whole framework that creates a good or delivers an item. It includes making processes more proficient and successful. Productive and successful procedures permit associations to build quality and decrease cost while keeping up or enhancing net revenues. One of the hardest choices to be made is which portions of the

To answer the second question we will use similar procedures to the one conducted above. Now the difference is that we have two workers instead of one, which will allow GNBB to increase the production’s capacity in the firm. We will assume that an additional worker will enable the division of operations’ time per two, that is, a decrease of 50% in the total operational time of each batch. Regarding the new location Jessup, the factory will now be able to have a process with multiple tasks. This means that two workers can work in two different tasks at the same time. However, considering that the group decided to assume that the additional worker will imply a decrease in every operation’s time of 50%, it makes no difference having two workers doing different steps

Nigel Slack., & Michael Lewis. ( 2002, 2008). Operations Strategy (2nd Edition). Harlow: Financial Times Prentice Hall.

There are various theories that are used in the field of operations management. In this

The following is the authors’ review of three articles from journals relating to the Operations Management 2 Course. Each of the articles will be reviewed and analysed as to their relevance to a particular or number of subjects of the course.

Although, managers should have some basic knowledge of the above components, filtering this information down to subordinates, will help them understand the importance of their positions within the firm. Furthermore, employees’ understanding this concept will have a positive impact on profits within a firm. The efficiency of the production unit is an internal factor, as with external factors such as inflation and cost increase for raw materials, both can affect the production cost in one way or another (Khataie et al, 2010). They also added that manufacturers can benefit from a dynamic approach of how the productions are treated.

Manufacturing and Services has undergone many changes and has evolved tremendously over the years. The evolution is primarily due to dynamic market place which changes according to changing societal norms. Operations management is the result of interplay between these two, (ever changing market and society) and in the process, adopted many new trends & practices to serve the changing societal demands. Thus, understanding of Operations in yesteryears is essential to anticipate what beckons for it in the future.