Advanced Production and Operations Management (2017)

lazy5f edited this page Dec 11, 2017 · 24 revisions

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.

Course Objectives

  • 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)

Schedule (tentative)

  1. Introduction
  2. The Process View of the Organization
  3. Understanding the Supply Process: Evaluating Process Capacity
  4. Estimating and Reducing Labor Costs
  5. Project Management
  6. The Link between Operations and Finance
  7. Batching and Other Flow Interruptions: Setup Times and the Economic Order Quantity Model
  8. Variability and Its Impact on Process Performance: Waiting Time Problems
  9. The Impact of Variability on Process Performance: Throughput Losses
  10. Quality Management, Statistical Process Control, and Six-Sigma Capability
  11. Lean Operations and the Toyota Production System
  12. Betting on Uncertain Demand: the Newsvendor Model
  13. Assemble-to-Order, Make-to-Order, and Quick Response with Reactive Capacity
  14. Service Levels and Lead Times in Supply Chains: The Order-up-to Inventory Model
  15. Risk-Pooling Strategies to Reduce and Hedge Uncertainty
  16. Revenue Management with Capacity Controls
  17. Supply Chain Coordination
  18. Sustainable Operations
  19. Business Model Innovation

현장 분석

  • 실제 프로세스를 하나 선택하여 Exhibit 3.1 또는 3.2를 수행
  • 1차 발표(9월25일)
    • 10분이내
    • 대상 및 대략적인 분석 계획


  1. Choose two companies that are in the same market and contrast them by doing Exhibit 2.1 with their balance sheets.
  2. (10월11일까지) Solve Q4.7 (Atlas Inc.).
  3. (11월6일까지) Solve Q8.2 (
  4. (11월13일까지) Solve Q12.8 (Land's End).
  5. (11월15일까지) Solve Q13.6 (Sillings).
  6. (11월27일까지) Solve Q14.6 (Blood Bank).
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