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1 Management Student Name Affiliated institution Professor Date

2 1.Why is operations management (OM) important to organizations today? How is OM related to Supply Chain Management? How does OM add value to customers? In a firm, operations management is critical since it aids in the efficient administration, control, and supervision of products, services, and people alike. The field of operations management affects virtually every business and area. No matter how big or small a business is, operations management is frequently employed. 2.What is organizational strategic planning? What is an operations management strategy? What other organizational strategies are related to an OM strategy? Using strategic planning, an organization can set priorities, focus energy and resources, strengthen operations, ensure employees and other stakeholders are working toward common goals, establish consensus around expected outcomes/results, and evaluate the organization's performance and make adjustments as needed. A company's customer service and business strategies are addressed in operations strategy, which is part of operations management. operational strategies concentrate on the firm's aims and aspirations in addition to the real methods for assisting the organization in reaching its objectives. Capacity planning and forecasting. Scheduling of operations. Quality Control Management. 3 . What is a product life cycle? At what point in a product or service life cycle is project management used? When is process management used? What is the difference between project and process management?

3 An item's "lifecycle" describes how long it takes to reach customers and then be taken off of store shelves. Each stage of a product's life cycle is referred to as one of the four life cycles of a product. During the planning stage, the project management plan is created, and then during the execution phase, the real product is built. Throughout the project, monitoring and regulating operations take place, albeit they may overlap or reoccur. Last but not least you provide your customer what they asked for and end the project. When we talk about Process Management, we're talking about aligning processes with the strategic objectives of a company, creating process designs, deploying process measurement tools, and training and organizing managers to do so. The terms project management and process management are often used interchangeably. Project management is all about rearranging your company's resources to solve a specific challenge. Implementing process management involves matching corporate resources to a particular issue. 4. Describe the transformation process and its components. Why is it important to provide feedback to the start and end nodes of the transformation process? Can you present a simple example of the transformation process and specify feedback parameters? Transformation processes involve, for example, changes in the physical qualities of raw materials or of end consumers. Material, information, and consumer movement may alter as a result of these adjustments. It is possible to regulate the operations system using feedback information by altering the inputs and transformation processes that are employed to obtain the desired outputs. For operations managers, feedback is critical to their success.

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4 5.Describe the Critical Path Method of scheduling? What form of management discipline is a Critical Path Method related to? What is the difference between a process diagram and a CPM network diagram? You may use the critical path method (CPM) to identify activities that are essential to the project's success and evaluate how flexible the schedule should be... CPM focuses on finding the most critical activities in the project's timetable, recognizing task dependencies, and estimating work durations. Project management methodology known as the critical path method (CPM) divides work into important and non-critical components in order to avoid scheduling conflicts and process bottlenecks. Calculate the time it will take to complete or execute each job. TOGAF's process diagrams, referred known as "process," show the order in which activities occur inside a process. Process modeling defines how practices should be carried out and formalizes them. CPM shows interdependencies, which is useful for planning individual tasks. As a network diagram, it depicts the actions and their results. It outlines a clear and succinct method for documenting a project's many components. Slack time may be calculated with its assistance. 6.What is inventory? What are the different types of inventory? What types of costs are related to carrying an inventory?

5 The accounting of commodities, component components, and raw materials used in manufacturing or sold by a corporation is known as inventory. In order to have adequate product on hand and to be aware of shortages, corporate leaders conduct inventory management. WIP, completed products, and MRO are the four primary forms of inventory. Costs associated with inventory management may be broken down into four broad categories: capital expenditures; storage; service; and inventory risk. 7. What are the general principles of aggregate planning? Describe the other plans related to aggregate planning from a tactical to day-to-day point of view? What is top-down- bottoms-up planning? It often includes information about projected sales, inventories, and production levels. Top-down planning or regressive planning is a method that seeks to progressively proceed from the top to the lowest level of a certain hierarchy. The purpose of bottom-up planning, or progressive planning, is to build a plan at a lower, relevant categorization level and then develop it to the higher level.

6 References Erasmus, B., Strydom, J., & Rudansky-Kloppers, S. (2017). Introduction to business management . Oxford University Press: Cape Town. Jacobs, F. R., Chase, R. B., & Aquilano, N. J. (2004). Operations management for competitive advantage. Boston: Mc-Graw Hill , 64 , 70.

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