Course Description :

 

Operations and supply chain management (OSCM) is a vital function of any firm, ensuring that the necessary inputs are available for efficient production of goods and services. This graduate-level course delves into the core of a firm's operations, covering various aspects such as facility location, procurement, quality control, project management, and inventory control.

One of the key takeaways from this course is understanding the fundamental link between productivity and operations management. Productivity is crucial for any firm's success, and operations management plays a crucial role in achieving it. By analyzing and optimizing production processes, operations management helps increase output while maintaining quality, leading to higher productivity.

Another significant aspect of OSCM is supply chain management. This involves the sourcing of raw materials and intermediate inputs, forecasting demand, and ensuring that production processes have the necessary inputs to operate efficiently. With the increasingly globalized market, firms must be strategic in their supply chain management, considering factors such as cost, quality, and potential risks.

Inventory control is another critical element of operations management. By managing inventory levels effectively, a firm can ensure a constant supply of production inputs, minimizing production delays. This involves forecasting demand, monitoring lead times, and implementing efficient inventory control policies. Without proper inventory control, a firm can face challenges such as stockouts, excess inventory, and ultimately, impact their profitability.

Facility analysis, including location and layout planning, is also a significant aspect of OSCM. The physical location of a facility can impact various factors, such as transportation costs, access to resources, and labor availability. A well-planned layout can improve workflow, reduce production time, and increase efficiency. This course equips students with the necessary tools to analyze and optimize facility location and layout.

Supply chain integration and the bullwhip effect are also covered in this course. The bullwhip effect refers to the amplification of demand fluctuations as they move up the supply chain, causing inefficiencies and resulting in increased costs. By understanding supply chain dynamics, firms can mitigate the bullwhip effect and achieve smoother and more efficient operations.

Project management is another key area of focus in this course. Effective project management is crucial for managing resources, time, and costs in completing projects on time and within budget. Through this course, students gain an understanding of project management tools and techniques, enabling them to deliver projects successfully.

In conclusion, operations and supply chain management is a vital function of a firm. This course equips students with the necessary skills to analyze and optimize production processes, manage supply chains, and mitigate risks associated with a constantly changing production environment. By understanding the fundamentals of OSCM, students can contribute significantly to the success of any firm.