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Academic staff member responsible for the design of the course syllabus
(name, surname, academic title/scientific degree, email address and signature)
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NA
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Main Course Lecturer (name, surname, academic title/scientific degree, email address
and signature) and Office Hours:
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Dr. Nurul Retno Nurwulan nnurwulan@epoka.edu.al
, E306 Monday 09:00 - 12:00
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Second Course Lecturer(s) (name, surname, academic title/scientific degree, email
address and signature) and Office Hours:
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NA
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| Teaching Assistant(s) and Office Hours: |
NA
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| Language: |
English
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| Compulsory/Elective: |
Compulsory
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| Study program: (the study for which this course is offered) |
Bachelor in Banking and Finance (3 years)
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| Classroom and Meeting Time: |
E212 Thursday 8:45 - 11:30
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| Code of Ethics: |
Code of Ethics of EPOKA University
Regulation of EPOKA University "On Student Discipline"
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| Attendance Requirement: |
Yes
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| Course Description: |
All firms and organizations are involved in some sort of transformation process. Operations
management is the designing and management by an organization of all activities required to transform
input resources into output products and services. The operations manager plans production,
schedules work, and controls resources so as to meet the goals of the organization. Manufacturing
operations transform tangible inputs into tangible outputs which should be worth more than the total
cost of the inputs. Service operations transform by transporting, storing, repairing, sorting and
rearranging, etc. This course is about some of the issues, techniques, and methodologies practicing
managers use to make operations more efficient and competitive. Topics include operations strategy,
process design, capacity planning, facilities location and design, forecasting, production scheduling,
inventory control, quality assurance and lean operations. The topics are integrated using a systems
model of the operations of an organization.
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| Course Objectives: |
Give students an appreciation for the production and operations management function in any organization. To give students an understanding of the importance of productivity and competitiveness to both organizations and nations. To ensure that students know the importance of an effective production and operations strategy to an organization. Provide students an understanding of quality management practice in organizations and how total quality management and six-sigma facilitate organizational effectiveness. To ensure students understand the relationship of the various planning practices of capacity planning, aggregate planning, project planning and scheduling. Give students an understanding the roles of inventories and basics of managing inventories in various demand settings. To ensure that students understand contemporary operations and manufacturing organizational approaches and the supply-chain management activities and the renewed importance of this aspect of organizational strategy.
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BASIC CONCEPTS OF THE COURSE
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| 1 |
Operations management (OM) is the set of activities that provides value in the form of goods and services by transforming inputs into output.
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| 2 |
Value Added is the difference between the cost of inputs and the value or price of outputs.
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| 3 |
Productivity is the ratio of outputs (goods and services) divided by the inputs (resources such as labor and capital).
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| 4 |
Quality is the totality of features and characteristics of a product or service that bears on its ability to satisfy stated or implied needs.
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| 5 |
The objective of process strategy is to create a process to produce products that meets customer requirements within cost and other managerial constrain.
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| 6 |
The objective of layout strategy is to develop an effective and efficient layout that will meet the firm’s competitive requirements.
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| 7 |
The objective of location strategy is to maximize the benefit of location to the firm. Options include: Expanding existing facilities; Maintain existing and add sites; Closing existing and relocating.
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| 8 |
Inventory is a stock or store of goods. Inventories are a vital part of business: (1) necessary for operations and (2) contribute to customer satisfaction.
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| 9 |
The objective of the product decision is to develop and implement a product strategy that meets the demands of the marketplace with a competitive advantage.
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| 10 |
Forecasting is the process of predicting a future event. It is the underlying basis of all business decisions related to production, inventory, personnel, and facilities.
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| Week |
Topics |
| 1 |
Introduction to Operations Management - Chapter 1 - LO 1.1 Define operations management 4 LO 1.2 Explain the distinction between goods and services 11 LO 1.3 Explain the difference between production and productivity 13 LO 1.4 Compute single-factor productivity 14 LO 1.5 Compute multifactor productivity 15 LO 1.6 Identify the critical variables in enhancing productivity 16 |
| 2 |
Operations and Strategy - Chapter 2 - LO 2.1 Define mission and strategy 36 LO 2.2 Identify and explain three strategic approaches to competitive advantage 36 LO 2.3 Understand the significance of key success factors and core competencies 42 LO 2 .4 Use factor rating to evaluate both country and outsource providers 47 LO 2.5 Identify and explain four global operations strategy options 49 |
| 3 |
Forecasting - Chapter 4 - LO 4.1 Understand the three-time horizons and which models apply for each 108 LO 4.2 Explain when to use each of the four qualitative models 111 LO 4.3 Apply the naive, moving- average, exponential smoothing, and trend methods 113 LO 4.4 Compute three measures of forecast accuracy 118 LO 4.5 Develop seasonal indices 127 |
| 4 |
Design of Goods and Services - Chapter 5 - LO 5.1 Define product life cycle 164 LO 5.2 Describe a product development system 166 LO 5.3 Build a house of quality 167 LO 5.4 Explain how time-based competition is implemented by OM 173 LO 5.5 Describe how goods and services are defined by OM 175 LO 5.6 Describe the documents needed for production 179 LO 5.7 Explain how the customer participates in the design and delivery of services 180 LO 5.8 Apply decision trees to product issues 182 |
| 5 |
Managing Quality - Chapter 6 - LO 6.1 Define quality and TQM 217 LO 6.2 Describe the ISO international quality standards 218 LO 6.3 Explain Six Sigma 221 LO 6.4 Explain how benchmarking is used in TQM 223 LO 6.5 Explain quality robust products and Taguchi concepts 225 LO 6.6 Use the seven tools of TQM 226 |
| 6 |
Process Strategy - Chapter 7 - LO 7.1 Describe four process strategies 282 LO 7.2 Compute crossover points for different processes 286 LO 7.3 Use the tools of process analysis 289 LO 7.4 Describe customer interaction in service processes 293 LO 7.5 Identify recent advances in production technology 294 |
| 7 |
Capacity Planning - Chapter 7s - LO S7.1 Define capacity 308 LO S7.2 Determine design capacity, effective capacity, and utilization 310 LO S7.3 Perform bottleneck analysis 315 LO S7.4 Compute break- even 319 LO S7.5 Determine expected monetary value of a capacity decision 323 LO S7.6 Compute net present value 324 |
| 8 |
Layout Strategies - Chapter 9 - LO 9.1 Discuss important issues in office layout 372 LO 9.2 Define the objectives of retail layout 374 LO 9.3 Discuss modern warehouse management and terms such as ASRS, cross-docking, and random stocking 375 LO 9.4 Identify when fixed-position layouts are appropriate 378 LO 9.5 Explain how to achieve a good process-oriented facility layout 379 LO 9.6 Define work cell and the requirements of a work cell 383 LO 9.7 Define product-oriented layout 386 LO 9.8 Explain how to balance production flow in a repetitive or product-oriented facility 387 |
| 9 |
Individual Project |
| 10 |
Location Strategies - Chapter 8 - LO 8.1 Identify and explain seven major factors that affect location decisions 342 LO 8.2 Compute labor productivity 342 LO 8.3 Apply the factor-rating method 345 LO 8.4 Complete a locational cost–volume analysis graphically and mathematically 347 LO 8.5 Use the center- of-gravity method 348 LO 8.6 Understand the differences between service- and industrial-sector location analysis 351 |
| 11 |
Inventory Management - Chapter 12 - LO 12.1 Conduct an ABC analysis 492 LO 12.2 Explain and use cycle counting 493 LO 12.3 Explain and use the EOQ model for independent inventory demand 496 LO 12.4 Compute a reorder point and explain safety stock 502 LO 12.5 Apply the production order quantity model 503 LO 12.6 Explain and use the quantity discount model 505 LO 12.7 Understand service levels and probabilistic inventory models 511 |
| 12 |
Group Project Presentations |
| 13 |
Group Project Presentations |
| 14 |
Review before Final Exam |
| 1 |
Appraise the role of operations management in the overall business strategy of the firm. |
| 2 |
Assess the interdependence of the operating system with other key functional areas of the firm. |
| 3 |
Evaluate production resources and relate efficiency concept |
| 4 |
Achieve production process and necessity to making proved process effectiveness |
| 5 |
Analyze problems that enterprises encounter and solve them by systematic studying methods |
| 6 |
Identify and evaluate a range of tools appropriate for analysis of operating systems of the firm. |
| 7 |
Validate the application of operations management policies and techniques to the service sector as well as manufacturing firms. |
| No |
Program Competencies |
Cont. |
| Bachelor in Banking and Finance (3 years) Program |
| 1 |
The students gain the ability to look at the problems of daily life from a broader perspective with an increased awareness of the importance of moral/ethical considerations and professional integrity in the workplace. |
4 |
| 2 |
They develop their knowledge and understanding of banking and finance including concepts, theories, and analytical tools that serve both in national and international markets. |
4 |
| 3 |
They gain an understanding of the role of financial management in business firms and the essentials of corporate finance and further develop their knowledge in the field. |
1 |
| 4 |
They are able to apply valuation models to estimate the price of different financial assets, measure risk and describe the risk-return tradeoff. |
1 |
| 5 |
They are provided with the knowledge and understanding of the regulatory framework and functioning of banking system and central banking as well as international banking system. |
1 |
| 6 |
They are able to understand and use fundamental economic theories and tools to solve economic problems in banking and financial services industry. |
1 |
| 7 |
They have the ability to develop and utilize accounting, financial and economic data as well as other information to solve different business problems by making use of basic mathematical and statistical models. |
1 |
| 8 |
They are expected to develop their numerical and IT skills as well as knowledge of databases in order to address the significant development in the delivery and use of financial services known as FinTech. |
1 |
| 9 |
They develop their ability to think critically, do research, analyze, interpret, draw independent conclusions, and communicate effectively, both individually and as part of a team. |
4 |
| 10 |
They are provided with opportunities to acquire the necessary skills and competencies to develop professionalism in the banking and financial services industry or to move on to further study within the discipline. |
4 |
