🤓 Boost production with operation management

Are you dissatisfied with unfulfilled production expectations? If so, the only thing standing in the way between you and a smooth production process is effective operations management.

The truth is everyone wants to improve their products or services, but it can be overwhelming to handle staff, equipment, inventory, and technology; thankfully, operations management can help bring that all together for you.

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Six Sigma

Craving better quality improvement? Use the Six Sigma method as an operation management strategy to reduce defects, errors, and variation, and boost quality and efficiency.

Since Six Sigma relies heavily on employees and company data, it’s important to:

✅ Define: Recognize objectives for production and overall operations

✅ Measure: Collect product data to uncover potential growth opportunities

✅ Analyze: Conduct an in-depth analysis of product issues and pinpoint possible causes

✅ Improve: Collect data from analysis to begin creating a plan of action for remediating issues. Implement those solutions

✅ Control: Keep a close eye on those newly implemented solutions to ensure a positive result

⚡️ Level up ⚡️

Plan: take time to brainstorm new opportunities

Ploy: explore future possibilities where competition will occur

Pattern: take note of patterns in your business, question if they’ve become apart of your strategy, and think about the impact these patterns should have on how you approach strategic decisions

Position: how you decide to position yourself in the marketplace helps develop a sustainable competitive edge

Trivia segment

Sometimes we know less than what we think. Trivia is one of the funnest ways to exercise our brain and expand our knowledge. See what you know this week!

  1. (T/F) The one cost that global supply chain managers need to be concerned with is the landed cost of the global shipment.

  2. (T/F) If you focus only on labor costs when sourcing goods globally, then the total cost of ownership may not be significantly different than supplier options that are closer to home.

  3. When a retailer sources goods to sell under its own name, what type of goods are they offering?

  4. Why would a company manufacture goods globally?

  5. What is the biggest risk in global contract manufacturing?

  6. INCOTERMS can be applied to which mode of transportation?

🫣 Scroll to the bottom to check your answers!

Trivia Answers

  1. False

  2. True

  3. Private label goods

  4. To increase market access

  5. Loss of supply chain control

  6. All modes of transportation