Production and Operation Management - 890 Words

Being in the right location is a key ingredient in a business s success. If a company selects the wrong location, it may have adequate access to customers, workers, transportation, materials, and so on. Consequently, location often plays a significant role in a company s profit and overall success. A location strategy is a plan for obtaining the optimal location for a company by identifying company needs and objectives, and searching for locations with offerings that are compatible with these needs and objectives. Generally, this means the firm will attempt to maximize opportunity while minimizing costs and risks. A company s location strategy should conform with, and be part of, its overall corporate strategy. Hence, if a company†¦show more content†¦6. Trade zones. Companies may want to consider the benefits offered by free-trade zones, which are closed facilities monitored by customs service’s where goods can be brought without the usual customs requirements. The United States has about 170 free-trade zones and other countries have them as well. 7. Political risk. Companies considering expanding into other countries must take political risk into consideration when developing a location strategy. Since some countries have unstable political environments, companies must be prepared for upheaval and turmoil if they plan long-term operations in such countries. 8. Governmental regulation. Companies also may face government barriers and heavy restrictions and regulation if they intend to expand into other countries. Therefore, companies must examine governmental—as well as cultural—obstacles in other countries when developing location strategies. 9. Environmental regulation. Companies should consider the various environmental regulations that might affect their operations in different locations. Environmental regulation also may have an impact on the relationship between a company and the community around a prospective location. 10. Incentives. Incentive negotiation is the process by which a company and a community negotiate property and any benefits the company will receive, such as tax breaks. Incentives may place a significant role in a company s selection of a site. Depending onShow MoreRelatedProduction And Operations Management : Production Management Essay941 Words   |  4 Pagesused in the production/operations subsystem of the organization into value added product/services in a controlled manner as per the policies of the organization, is the definition of Production/operations management. Consequently, it is that part of an organization, this part is involved in the transformation of a range of inputs, like men, material, machines, information and capital, into the required (products/services), with the requisite quality level. The group of correlated management activitiesRead MoreProduction Of Production And Operation Management1415 Words   |  6 PagesPRODUCTION OPERATION MANAGEMENT The focus of any business is to provide needs of customer by providing military and supplies, and in this procedure generate value for customers and solve their trouble. Production and operations management talks about applying big business association and management concepts in formation of supplies and military (1). PRODUCT: A product is defined as the thing offered for deal. A product can be a facility or an item. It can be material or in virtual form. Every productRead Moreproduction and operation management1377 Words   |  6 PagesPaper of Production and Operations Management IIBM Institute of Business Management Examination Paper Production and Operations Management Subject Code-B107 ï‚ · ï‚ · ï‚ · MM.100 Section A: Objective Type Short Questions (30 marks) This section consists of multiple choice Short Notes type questions. 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(i) For a Consumer: The product is a combination of or optimalRead MoreProductions and Operations Management737 Words   |  3 PagesProductions and Operations Management I The three categories of statistical quality control The three categories of SQC include the traditional statistical tools, acceptance sampling, and statistical process control (SPC). Traditional statistical tools are descriptive statistics like the mean and range, used to describe qualitative characteristics. Acceptance sampling is a process of taking a random sample or portion of a batch and deciding whether to accept or reject the whole batch. SPC is aRead MoreOperations Management : Production Management1657 Words   |  7 Pages Operations management is the art of knowledge that ensures that services and goods are produced and distributed successfully to customers. Operations management key objective is maximize efficiency while producing and effectively fulfilling customer needs. In this novel the operations management team is struggling to make this plant a profitable plant so it will not be shut down. Alex is wondering why is that he cannot produce quality products and respond to customer needs at a faster pace considerablyRea d MoreProduction Operation Management1195 Words   |  5 PagesProduction Operations Management Session 3-2 More on Processes 1 Outline ï‚ § Multi-product, multi-flow process analysis – So far: 1 product, 1 flow – Differing process times, yield issues, machine breakdown ï‚ § Big Takeaway: – Product-mix becomes critical in multiple flows – Implications in capital investment, scaling business, and risk management ï‚ § Calculating capacity when you have – Multiple flows †¢ With the same processing time at each resource †¢ With different processingRead MoreProduction and Operation Management890 Words   |  4 Pagesif they plan long-term operations in such countries. 8. Governmental regulation. Companies also may face government barriers and heavy restrictions and regulation if they intend to expand into other countries. Therefore, companies must examine governmental—as well as cultural—obstacles in other countries when developing location strategies. 9. Environmental regulation. Companies should consider the various  environmental regulations  that might affect their operations in different locations