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Advanced Production and Operations Management (2017)
In this course, we look at organizations as entities that must match the supply of what they produce with the demand for their product by studying a number of quantitative models and qualitative strategies, which can be applied in different ways: i) ensuring that resources are used as efficiently as possible, ii) making desirable trade-offs between competing objectives, iii) redesigning or restructuring our operations so that we can improve performance along multiple dimensions simultaneously.
The topics of this course are: i) to analyze business processes with the methods and procedures by which a service is completed or a good is produced, ii) to introduce variability into business process analysis, iii) to discuss inventory control, information management, and process flexibility, iv) to cover tools of revenue management, v) to discuss supply chain management, sustainability, and business model innovation.
- The student will be able to integrate basic knowledge of operations management in problem solving and to verify through numerical experiment and operational data analysis.
- The student will be able to define the level and core of the operations management problem and appropriately present the formulated solution and the result.
- The student will be able to design systems, elements, processes, etc., reflecting design elements and practical constraints.
Requirements & Grading
- Attendance (10%), Homework Assignment (10%), Midterm Exam (35%), Final Exam (35%), Mini-project (10%)
- G. Cachon, C. Terwiesch, “Matching Supply with Demand: An Introduction to Operations Management,” 3rd Ed., McGraw-Hill, 2012.
- G. Cachon, C. Terwiesch, (이진표, 장병윤, 정욱, 황승준 옮김) “생산 서비스 운영관리: 수요와 공급의 균형,” 3판, 지필미디어, 2013. (번역서)
- 이상범, 류춘호, “현대 생산 운영관리,” 5판, 명경사, 2015 (생산관리 입문서)
- Stevenson, "Operations Management," 12th Ed., McGraw-Hill Education, 2015 (introductory textbook)
- The Process View of the Organization
- Understanding the Supply Process: Evaluating Process Capacity
- Estimating and Reducing Labor Costs
Project Management The Link between Operations and Finance
- Batching and Other Flow Interruptions: Setup Times and the Economic Order Quantity Model
- Variability and Its Impact on Process Performance: Waiting Time Problems
The Impact of Variability on Process Performance: Throughput Losses Quality Management, Statistical Process Control, and Six-Sigma Capability Lean Operations and the Toyota Production System
- Betting on Uncertain Demand: the Newsvendor Model
- Assemble-to-Order, Make-to-Order, and Quick Response with Reactive Capacity
- Service Levels and Lead Times in Supply Chains: The Order-up-to Inventory Model
- Risk-Pooling Strategies to Reduce and Hedge Uncertainty
- Revenue Management with Capacity Controls
- Supply Chain Coordination
Sustainable Operations Business Model Innovation
- 실제 프로세스를 하나 선택하여 Exhibit 3.1 또는 3.2를 수행
- 1차 발표(9월25일)
- 대상 및 대략적인 분석 계획
- Choose two companies that are in the same market and contrast them by doing Exhibit 2.1 with their balance sheets.
- (10월11일까지) Solve Q4.7 (Atlas Inc.).
- (11월6일까지) Solve Q8.2 (My-law.com).
- (11월13일까지) Solve Q12.8 (Land's End).
- (11월15일까지) Solve Q13.6 (Sillings).
- (11월27일까지) Solve Q14.6 (Blood Bank).