StudentShare solutions
Triangle menu

Operation Management Particularies - Essay Example

Not dowloaded yet

Extract of sample
Operation Management Particularies

While solving the problem you should remember that the main purpose of each entrepreneur is to minimize costs and to maximize benefits. In this case its evident that mathematic methods should be applied. The economist usually use linear programming
Linear programming is an important field of optimization for several reasons. Many practical problems in operations research can be expressed as linear programming problems. Certain special cases of linear programming, such as network flow problems and multicommodity flow problems are considered important enough to have generated much research on specialized algorithms for their solution. A number of algorithms for other types of optimization problems work by solving LP problems as sub-problems. (http://en.wikipedia.org/wiki/Linear_ programming). To use the method you problem should be equated in the form of mathematic
So linear function is c1x1+ c2x2+ c3x3 min. c1- number of loaders c2-number of tracks c3- every loader's salary. X1- number of parts loaded by each employee x2- truck tonnage x3- number of loaders. Restrictions are x1,x2, x3 c1.c2 c3 0. a11x1+a12x2+a13x36 a21x1+ a22x2 +a23x312
Forfeit is the return of property someone belonging or in return for a bad happening as part of a contractual or legal transgression (http://en.wikipedia.org/wiki/Forfeit). ...
c1- number of loaders c2-number of tracks c3- every loader's salary. X1- number of parts loaded by each employee x2- truck tonnage x3- number of loaders. Restrictions are x1,x2, x3 c1.c2 c3 0. a11x1+a12x2+a13x36 a21x1+ a22x2 +a23x312
Than the problem is expressed in the form of matrix and solved by means of simplex method.
Q2
In case of the trucks breaking down the manufacturer is able to demand a forfeit.
According to the civil law debtor is obligated to compensate losses caused by the debtor's failure.
Forfeit is the return of property someone belonging or in return for a bad happening as part of a contractual or legal transgression (http://en.wikipedia.org/wiki/Forfeit). Usually it is only done in the most extreme circumstances, in which the forfeiting party believes there is simply no way to continue under the present circumstances It may be counted as utilization of the parts by the manufacturer multiplied by hours of stoppage.
Q3
There are some ways to ensure that the manufacturer doesn't run of the parts. First you can provide more parts than it is required and the manufacturers could stock it in their warehouse. Second it could be solved by insurances. The main principles of insurance are
1. there must be a larger number of similar objects so the financial outcome of insuring the pool of exposures is predictable. Therefore they can calculate a "fair" premium. 2. the losses have to be accidental and unintentional from the point of view of the insured. 3. the losses must be measurable, identifiable in location, time, and be definite. They also want the losses to cause economic hardship. That is, so the insured has an incentive to protect and preserve the property to minimize the probabilty that the losses occur. 4. the loss ...Show more

Summary

Every manager should organize a stable and predictable supply chain. A supply chain, logistics network, or supply network is a coordinated system of organizations, people, activities, information and resources involved in moving a product or service in physical or virtual manner from supplier to customer.( http://en.wikipedia.org./wiki/Supply_chain)
Author : angel06
Operation Management Particularies essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Operation Management Particularies"
with a personal 20% discount.
Grab the best paper

Related Essays

Operation Management
This was reached due to the shortcomings that arose from the IPO in analysis vital information in project management. It represents how the C20 works out its operations to reach peak performance dimensions. The input sort by the organization is acquired from funds of equity from the management body, labor infused by its employees and the resources obtained, local or foreign.
4 pages (1000 words) Essay
Operation Management
The paper aims to espouse on the overall concept of operation management and describes the operational management activities utilized to realize success, in terms of capacity management in hospitality in this particular hotel.
9 pages (2250 words) Essay
Operation management
Thus the main of the operations management is the optimization of all processes in an organization. Operations and processes Operations and processes management Operations function is basically a section of an organization responsible for producing both products and services.
12 pages (3000 words) Essay
Operation Management
The two companies selected for the discussion in this paper are the multinational fast-food chains Mcdonald’s and KFC (Kentucky Fried Chicken). It is obvious that it is not possible for any company to focus on all the five performance objectives together, hence the paper examines performance objectives preferred by the above companies in their operations strategies.
3 pages (750 words) Essay
Operation management
But recently the company has started facing major operational issues that are likely to affect the business if the managers do not find effective solutions for these problems in the near future. The company should pay critical attention to improve on the operations management processes and deal with the critical factors underlying the issues in the operations management of Wal-Mart.
14 pages (3500 words) Essay
OPERATION MANAGEMENT
But beyond the scope of this production process, there is a lot more; for example, operations management of Intel extends to the substantial measurement and also the analysis of all the various kinds
8 pages (2000 words) Essay
Operation Management
This paper is attempted to focus on the similarities as well as the differences between the operation management in the context of manufacturing industry and the same in the context of service
3 pages (750 words) Essay
Operation management
nd use of internet have worked to make the competitive arena worse leading to lower chances for airlines to be consistently profitable and relevant to customers. The US has an expansive market with huge clientele base making airlines establish niches in order to survive. Global
16 pages (4000 words) Essay
Operation Management
The company’s management philosophy and strategies evolve from the concepts of just- in-time production and lean manufacturing. These concepts play an important role in developing the
6 pages (1500 words) Essay
Operation management
On the other hand, it is rare that the business owner realises the dissatisfaction that their client experience. The long-term effect of this trend is that clients look for other places to have better services,
11 pages (2750 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation