Matching Supply with Demand An Introduction to Operations Management

ISBN-10: 0073525200

ISBN-13: 9780073525204

Edition: 3rd 2013

List price: $172.00 Buy it from $37.43
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Description: Gerard Cachon and Christian Terwiesch, Matching Supply with Demand: An Introduction to Operations Management, 3e is the most authoritative, cutting-edge book for operations management MBAs. The book demands rigorous analysis on the part of students without requiring consistent use of sophisticated mathematical modeling to perform it. When the use of quantitative tools or formal modeling is indicated, it is only to perform the necessary analysis needed to inform and support a practical business solution.The guiding principle in the development ofMatching Supply with Demandhas been “real operations, real solutions.” “Real operations” means that most of the chapters in this book are written from the perspective of a specific company so that the material in this text will come to life by discussing it in a real-world context. “Real solutions” means that equations and models do not merely provide students with mathematical gymnastics for the sake of an intellectual exercise.

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Book details

List price: $172.00
Edition: 3rd
Copyright year: 2013
Publisher: McGraw-Hill Higher Education
Publication date: 2/24/2012
Binding: Hardcover
Pages: 528
Size: 7.75" wide x 10.00" long x 0.75" tall
Weight: 2.816
Language: English

Introduction
Learning Objectives and Framework
Road Map of the Book
The Process View of the Organization
Presbyterian Hospital in Philadelphia
Three Measures of Process Performance
Little's Law
Inventory Turns and Inventory Costs
Five Reasons to Hold Inventory
Pipeline Inventory
Seasonal Inventory
Cycle Inventory
Decoupling Inventory/Buffers
Safety Inventory
The Product-Process Matrix
Summary
Further Reading
Practice Problems
Understanding the Supply Process: Evaluating Process Capacity
How to Draw a Process Flow Diagram
Bottleneck, Process Capacity, and Flow Rate (Throughput)
How Long Does It Take to Produce a Certain Amount of Supply?
Process Utilization and Capacity Utilization
Workload and Implied Utilization
Multiple Types of Flow Units
Summary
Practice Problems
Estimating and Reducing Labor Costs
Analyzing an Assembly Operation
Time to Process a Quantity X Starting with an Empty Process
Labor Content and Idle Time
Increasing Capacity by Line Balancing
Scale Up to Higher Volume
Increasing Capacity by Replicating the Line
Increasing Capacity by Selectively Adding Workers
Increasing Capacity by Further Specializing Tasks
Summary
Further Reading
Practice Problems
Project Management
Motivating Example
Critical Path Method
Computing Project Completion Time
Finding the Critical Path and Creating a Gantt Chart
Computing Slack Time
Dealing with Uncertainty
Random Activity Times
Potential Iteration/Rework Loops
Decision Tree/Milestones/Exit Option
Unknown Unknowns
How to Accelerate Projects
Literature/Further Reading
Practice Problems
The Link between Operations and Finance
Paul Downs Cabinetmakers
Building an ROIC Tree
Valuing Operational Improvements
Analyzing Operations Based on Financial Data
Summary
Further Reading
Practice Problems
Batching and Other Flow Interruptions: Setup Times and the Economic Order Quantity Model
The Impact of Setups on Capacity
Interaction between Batching and Inventory
Choosing a Batch Size in the Presence of Setup Times
Setup Times and Product Variety
Setup Time Reduction
Balancing Setup Costs with Inventory Costs: The EOQ Model
Observations Related to the Economic Order Quantity
Other Flow Interruptions: Buffer or Suffer
Summary
Further Reading
Practice Problems
Variability and Its Impact on Process Performance: Waiting Time Problems
Motivating Example: A Somewhat Unrealistic Call Center
Variability: Where It Comes From and How It Can Be Measured
Analyzing an Arrival Process
Stationary Arrivals
Exponential Interarrival Times
Nonexponential Interarrival Times
Summary: Analyzing an Arrival Process
Processing Time Variability
Predicting the Average Waiting Time for the Case of One Resource
Predicting the Average Waiting Time for the Case of Multiple Resources
Service Levels in Waiting Time Problems
Economic Implications: Generating a Staffing Plan
Impact of Pooling: Economies of Scale
Priority Rules in Waiting Lines
Processing-Time-Dependent Priority Rules
Processing-Time-Independent Priority Rules
Reducing Variability
Ways to Reduce Arrival Variability
Ways to Reduce Processing Time Variability
Summary
Further Reading
Practice Problems
The Impact of Variability on Process Performance: Throughput Losses
Motivating Examples: Why Averages Do Not Work
Ambulance Diversion
Throughput Loss for a Simple Process
Customer Impatience and Throughput Loss
Several Resources with Variability in Sequence
The Role of Buffers
Summary
Further Reading
Practice Problems
Quality Management, Statistical Process Control, and Six-Sigma Capability
Controlling Variation: Practical Motivation
The Two Types of Variation
Constructing Control Charts
Control Chart Example from a Service Setting
Design Specifications and Process Capability
Attribute Control Charts
Robust Process Design
Impact of Yields and Defects on Process Flow
Rework
Eliminating Flow Units from the Process
Cost Economics and Location of Test Points
Defects and Variability
A Process for Improvement
Further Reading
Practice Problems
Lean Operations and the Toyota Production System
The History of Toyota
TPS Framework
The Seven Sources of Waste
JIT: Matching Supply with Demand
Achieve One-Unit-at-a-Time Flow
Produce at the Rate of Customer Demand
Implement Pull Systems
Quality Management
Exposing Problems through Inventory Reduction
Flexibility
Standardization of Work and Reduction of Variability
Human Resource Practices
Lean Transformation
Further Reading
Practice Problems
Betting on Uncertain Demand: The Newsvendor Model
O'Neill Inc.
An Introduction to the Newsvendor Model
Constructing a Demand Forecast
The Expected Profit-Maximizing Order Quantity
Performance Measures
Expected Lost Sales
Expected Sales
Expected Leftover Inventory
Expected Profit
In-Stock Probability and Stockout Probability
Choosing an Order Quantity to Meet a Service Objective
Managerial Lessons
Summary
Further Reading
Practice Problems
Assemble-to-Order, Make-to-Order, and Quick Response with Reactive Capacity
Evaluating and Minimizing the Newsvendor's Demand-Supply Mismatch Cost
When Is the Mismatch Cost High?
Reducing Mismatch Costs with Make-to-Order
Quick Response with Reactive Capacity
Summary
Further Reading
Practice Problems
Service Levels and Lead Times in Supply Chains: The Order-up-to Inventory Model
Medtronic's Supply Chain
The Order-up-to Model Design and Implementation
The End-of-Period Inventory Level
Choosing Demand Distributions
Performance Measures
In-Stock and Stockout Probability
Expected Back Order
Expected On-Hand Inventory
Pipeline Inventory/Expected On-Order Inventoiy
Choosing an Order-up-to Level to Meet a Service Target
Choosing an Appropriate Service Level
Controlling Ordering Costs
Managerial Insights
Summary
Further Reading
Practice Problems
Risk-Pooling Strategies to Reduce and Hedge Uncertainty
Location Pooling
Pooling Medtronic's Field Inventory
Medtronic's Distribution Center(s)
Electronic Commerce
Product Pooling
Lead Time Pooling: Consolidated Distribution and Delayed Differentiation
Consolidated Distribution
Delayed Differentiation
Capacity Pooling with Flexible Manufacturing
Summary
Further Reading
Practice Problems
Revenue Management with Capacity Controls
Revenue Management and Margin Arithmetic
Protection Levels and Booking Limits
Overbooking
Implementation of Revenue Management
Demand Forecasting
Dynamic Decisions
Variability in Available Capacity
Reservations Coming in Groups
Effective Segmenting of Customers
Multiple Fare Classes
Software Implementation
Variation in Capacity Purchase: Not All Customers Purchase One Unit of Capacity
Summary
Further Reading
Practice Problems
Supply Chain Coordination
The Bullwhip Effect: Causes and Consequences
Order Synchronization
Order Batching
Trade Promotions and Forward Buying
Reactive and Overreactive Ordering
Shortage Gaming
Bullwhip Effect: Mitigating Strategies
Sharing Information
Smoothing the Flow of Product
Eliminating Pathological Incentives
Using Vendor-Managed Inventory
The Countereffect to the Bullwhip Effect: Production Smoothing
Incentive Conflicts in a Sunglasses Supply Chain
Buy-Back Contracts
More Supply Chain Contracts
Quantity Discounts
Options Contracts
Revenue Sharing
Quantity Flexibility Contracts
Price Protection
Summary
Further Reading
Practice Problems
Sustainable Operations
Sustainability: Background
Energy
Water
Material
Agriculture, Fishing, and Forestry
People
Sustainability: The Business Case
Sustainability and Operations Management
Summary
Further Reading
Practice Problems
Business Model Innovation
Zipcar and Netflix
Innovation and Value Creation
The Customer Value Curve: The Demand Side of Business Model Innovation
Solutions: The Supply Side of Business Model Innovation
Process Timing
Process Location
Process Standardization
Unsuccessful Business Model Innovation
Summary
Further Reading
Statistics Tutorial
Tables
Evaluation of the Loss Function
Equations and Approximations
Solutions to Selected Practice Problems
Glossary
References
Index of Key "How to" Exhibits
Summary of Key Notation and Equations
Index
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