Operations Management

Definitions, scopes, and objectives of operations management; Transformation process;Differences between production and service operations; Operations and supporting functions;Role of the operations manager; Production system: Intermittent and continuous; Key issuesfor operations managers; Historical evolution of operations management; Productivity: Concepts, and types.

Introduction to operations strategy; Operations strategy as a competitive weapon; Linkage between corporate, business and operations strategy; Components of operations strategy; Manufacturing strategies; Service strategies.

Concept of product and service design; Product development process; Difference between product and service design; Emerging issues in product and service design; Value analysis; Concurrent engineering and quality function deployment; Waiting line theory (Single channel only).

Concept and importance of inventory; Inventory costs; Dependent and independent demand; Inventory systems- continuous and periodical; Basic economic order quantity (with and without discount).

Introduction to quality; Historical evolution of total quality management; Philosophy, principles and concepts of total quality management. Costs of quality; Quality Control: Introduction, objectives, advantages; Statistical process control -Control charts- control charts for variable; JIT and Six Sigma; Quality Management System: ISO 9000 series; 7 tools for the quality.

Introduction to decision making environment; Decision making under uncertainty: Criterion of maxi max, maximin, minimax regret, Laplace and Hurwitz’s; Decision making under risk: Expected monetary value criterion, expected opportunity loss criterion, Expected profit of perfect information, Expected value of prefect information; Marginal analysis.

Introduction, generating initial basic feasible solution and testing optimality condition; Solution of minimization problem (excluding loop formation).

Introduction, and objectives of assignment problem; Solution of minimization and maximization problem.

Introduction; Importance of game theory; Two person zero- Sum game; Pure strategies; Games with saddle point; Mixed strategies; Rules of dominance; Solution methods of Games: Algebraic method only.