The Blog Library

Is it placement season or you are looking for a job switch into operations segment? We are here to help you out. Though not exclusive, we bring you Business Operations interview questions, technical as well as HR, you should be prepared with before your D-Day.  Have you read Goal? What were your learning from it? What are the various duties of an Operations Manager?  What challenges do you expect in this business operations position?  How will you manage relationships with different vendors ?  How would you grow and motivate our staff? Tell us an instance from your past to justify your claim. What is the difference between logistics and supply chain ?  What are the risks in procurement and how do you minimize them?  What is throughput time ?  Tell us what you know about lean six sigma ? What is Economic Order Quantity ?  First thing you will do to handle employees that resist change?  How do you iden...

Throughput Time Throughput time is the time required to convert raw materials into finished goods. This also applies to the processing of raw materials into a component or sub-assembly. the time is accounted right from when it first enters manufacturing until it exits manufacturing. Throughput time includes the following: Processing time: Time required to transform raw materials into finished goods. Inspection time: Time required to inspect raw materials, work-in-process (WIP), and finished goods at different stages of production process. Move time: Time spent to move items in and out of the manufacturing area and between workstations in the production area. Queue time: Waiting time prior to the processing, inspection & moving activities. Throughput time mainly focuses on reducing for a manufacturing process to complete. The amount of throughput flowing through a system can be increased and thus increase pro...

LEAN SIX SIGMA Lean Six Sigma is a philosophy of improvement that emphasizes on defect reduction over defect detection. It aims at improving customer satisfaction via reduction in waste, variation and cycle time. At the same time it promotes standardization of work that leads to competitive advantage. Lean Six Sigma is a combination of two strategies- Lean and Six Sigma There are 3 key elements of Lean Six Sigma. They are: Tools & Techniques: To identify and solve problems. Process & Methodology: To use problem solving tools to ensure that the root cause of the problem is found and the solution is fully implemented. Mindset & Culture: To achieve desired goals and for continuous improvement using data and processes. Lean Six Sigma project has cross-functional teams involved in analyzing various aspects of the process. Instead of giving importance just to one step at a time, Lean six sigma works on optimizing the complete process regardless of opt...

LOGISTICS Logistics is a sub-set of  Supply Chain Management  (SCM). It includes movement of a product in the most efficient way to deliver it in the right condition, to the right person at the right place and right time. It includes the following: Packaging Transportation Warehousing Distribution Delivery Logistics in Supply Chain Management (Part of Education Series: Operations Management) Also See:   Throughput Time Lean Six Sigma Supply Chain Ordering Cost Holding Cost Economic Order Quantity Limitations of Economic Order Quantity    

SUPPLY CHAIN Supply chain can be defined as a network of people, organization, resources or information required to move a product(or service) from supplier to customer. Any product that reaches the end consumer shows the combined effort of different organizations, collectively known as supply chain. Supply Chain Management It is the management of all activities in a supply chain in order to have a competitive advantage and maximize customer's value. It includes all activities right from development of product, sourcing of materials, production, logistics and information to co-ordinate all activities. Supply chain management is a complex process that relies on all its stakeholders - right from its manufacturers to end user. The components of supply chain includes the following: Company Suppliers Customers A complete chain would involve the following stakeholders: Producer of raw material Supplier Product Manufacturer  Distributor Retailer Customer...

Ordering Cost is the cost associated with ordering a new batch of materials. It includes the following: Purchase Order Cost Labor cost Cost associated with payment to supplier Inspection of goods received Supplier invoice preparation cost The Ordering costs that a business incurs increases with the number of orders placed. Ordering costs vary inversely with carrying costs. It means that the more orders a business places with its suppliers, the higher will be the ordering costs. However, more orders mean smaller average inventory levels and hence lower carrying costs. Example : Company XYZ is involved in special metal bar distribution to households and businesses through its network of pipelines. XYZ has only a few suppliers who produce these customized bars. The company advertised in 3 national and 2 international newspapers before placing a purchase order. This will cost $300,000 per order. The suppliers charge an amount of $1 million regardless of the size of order. T...