Session 6 - operation Management continued

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  • Created by: jf00632
  • Created on: 15-01-19 12:09
Demand management- explanation
influencing demand so that inputs and outputs are closely matched
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Demand management- broad examples
Pricing strategy – to either encourage (or discourage) sales and adverting strategy- usually to encourage early ordering or bulk purchase
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Demand management- CPO examples
Pubs / Restaurants – operate a ‘Happy Hour’ to encourage customers at off-peak times and Airlines – early booking of fixed capacity seating to obtain cheaper fares.
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Demand management- MPO examples
Lead times for orders taken can be increased to cater for a high order book Lead times for orders taken can be decreased to cater for a low order book
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Mixed capacity strategy - defintion
Many organisations operate mixed strategies. Such as level capacity and chase demand plus some demand management)
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Mixed capacity - example
University- Level capacity: maximum number of students Chase demand: temporary staff, visiting lecturers Demand management: bursaries, modify entry requirements
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Defiinition of yiled/ revenue management
Defined as “a method that can help a firm sell the right inventory unit to the right customer at the right time
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What is forecating?
Predicting the level of demand for a product or service it may not be accurate – but is still necessary
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What are the 2 methods used for forecasting?
qualitative and quantitative
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Definition of qualitative
Panel approach – a group of experts meet to determine their best guess to predict demand. Delphi method –questionnaire. Scenario planning – involves a group of experts looking at various possible scenarios and analysing the associated risks befor
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Definition of quantitative
Time series analysis – looks back to predict future demand - moving average forecasting - exponential smoothing Causal Modelling techniques– more complex - regression line analysis – two variables - multi regression analysis – many variables
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Different types of ques
Single line que, multipe que, priority que and diffuse que
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Diffuse que
given a ticket - e.g. clarkks
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priortity que -
fast track at an iarport
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Single line que
linnig up behing eachother
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multiple queing
there is more than one que- a supermarket
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Card 2

Front

Demand management- broad examples

Back

Pricing strategy – to either encourage (or discourage) sales and adverting strategy- usually to encourage early ordering or bulk purchase

Card 3

Front

Demand management- CPO examples

Back

Preview of the front of card 3

Card 4

Front

Demand management- MPO examples

Back

Preview of the front of card 4

Card 5

Front

Mixed capacity strategy - defintion

Back

Preview of the front of card 5
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