Join Eddie Davila for an in-depth discussion in this video The importance of productivity, part of Operations Management Foundations.
- As a manager your boss and the investors…are counting on you to do a good job.…But what does that mean?…Think about it.…What exactly is your job?…You're a manager, but what exactly are you managing?…You're managing resources.…And for what reason?…Well, you're expected to use those resources…to create outputs, products, and services.…So while most of us think it's our job…to make the company profitable,…that's only sort of true.…Yes, without profits there is no company.…
But as a manager, my more immediate goal,…the goal that will make my bosses happy,…my goal is to be productive.…My bosses want productivity.…What's productivity?…Much like value can be expressed as a ratio,…productivity is probably best understood by this formula.…Productivity equals, What did we make?…divided by, What did it cost us to make it?…What did we make is typically the value…of all the items produced.…
What did it cost us is typically the cost of all inputs.…Labor costs, material costs, time utilized,…energy, and even the cost of waste and defects.…
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- Understanding operations management
- Making key inventory decisions
- Balancing holding costs and ordering costs
- Choosing a production strategy and facility layout
- Managing waiting-line systems
- Defining quality and improving quality
- Managing business processes
Skill Level Intermediate
1. Introduction to Operations
2. Managing Inventory
3. Managing Production of Products and Services
4. Managing Waiting Lines
5. Managing Quality
6. Operations at the Office
Wrap up2m 52s
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