MS Unit-8
- 1. UNIT-VIII Contemporary Management Practices
- 2. INDEX UNIT 8 PPT SLIDES S.NO. TOPIC LECTURE NO. 1. Contemporary Management Practices L1 2. Basic concepts of MIS, End User Computing L2 3. Materials Requirement Planning L3 4. (MRP) Just-In-Time ( JIT ) Systems L4 5. Total Quality Management ( TQM ), Six sigma L5 6. Capability Maturity Model ( CMM ) Levels L6 7. Supply Chain Management Business process L7 8. (ERP) Performance Management L8
- 3. Contemporary Management Practices Business processes have been undergoing vast change over time Today we find many concepts and practices Leveraged by technology, businesses make use of information systems for decision making Computing processes are getting more and more automated
- 4. Management Information Systems (MIS) MIS refers to the process of covering the application of people, technologies, and procedures to solve business problems MIS are different form regular information systems in the sense that they are used to analyze other information systems such as decision support, expert systems and artificial intelligence. MIS refers broadly to a computer-based system that provides managers with the tools for organizing, evaluating and efficiently running their departments.
- 5. Materials Requirement Planning(MRP) MRP is a software based production planning and inventory control system used to manage manufacturing processes. MRP is used by a large number of organisations. It provides all the planning data.
- 6. Objectives of Materials Requirement Planning(MRP) To ensure the availability of materials and products for production and delivery to customers. To maintain the lowest possible level of inventory. To plan manufacturing activities, delivery schedules and purchasing activities.
- 7. Just-In-Time (JIT) JIT is an alternative to MRP system for certain type of production and as a bridge between management and work guide lines. JIT is applied systematically can have wide range of implications on marketing and transportation besides economizing production. JIT is defined as an approach to minimize waste in manufacturing in terms of time, energy and errors.
- 8. Total Quality Management (TQM) TQM is a total management system that sets the direction and focus the vision on the company. TQM allows to identify and develop an interaction among corporate problems for solutions. TQM specify policy management , team efforts, vendor quality, education and training.
- 9. Six sigma and Capability Maturity Model (CMM) Six sigma is a tool that must be wielded both at the design stage and at the process stage. Six sigma is converting defect prone business in to power of performance. Objectives of six sigma are: design, operate and control everyone of the processes in such a way that more of them yield more than 3,4defects out of every 1 million units of outputs
- 10. Value Chain Analysis Value Chain Analysis is a chain of activities through which a product or service passes in order to gain value in every activity. The chain of activities gives the products more added value than the sum of added values of all activities. Example: The value of a rough diamond is lot less when compared to that of a cut diamond.
- 11. Supply Chain Management Supply chain is the entire process of accepting a customer order through to delivery of the product to the customer inclusive of supply procurement and production of the product. SCM is the overall system of coordinating closely with suppliers so that both the firm and its supplier reap the benefit of smaller inventories, some other production and less waste.
- 12. Supply Chain Management SCM is the coordination of purchasing, manufacturing, shipping, and billing operations, often supported by an ERP system. It can also be said that it is the coordination of all the activities and information flows involved in buying, making and moving a product.
- 13. Enterprise Resource Planning (ERP) ERP is an integrated cross functional software that re-engineers manufacturing, distribution, finance, human resources and other basic business processes of a company to improve its efficiency, agility and profitability.
- 14. Performance Management – Displays the performance outcomes calculated for quarter’s exciters, where all wage data has NOT been posted.
- 15. Performance Management Example – Year To Date Managers Report – Displays only the quarters for which all UI wage data has been posted and whose program year September 30th deadline has not passed. Supplemental income can still be added in the Year To Date Managers Report outcomes. Select the LWA, program year and program quarter from the drop down boxes. Select view outcomes.
- 16. Business Process Outsourcing (BPO) It is the process of purchasing products or services from another firm. It is the practice of contracting computer center operations, telecommunication networks, or applications development to external vendors. Eg:-All major auto companies outsource manufacturing of many components.
- 17. Business process Re-engineering:- Dr. Michael Hammer defines BPR as “the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical contemporary measures of performance such as cost , quality, service and speed”.
- 18. Bench Marking:- Bench marking is a skill, an attitude and practice on excellence. A bridge between staff analysis, design of line programme for continuous improvement. Bench marking is the first step to effective TQM. It is comparatively new to Indian companies. It is the continuous process of measuring products, services and practices against the competitor.
- 19. Balanced Score Card:- The Balanced Scorecard Toolkit reviews the history of Balanced Scorecard concept, compares this concept with other management concepts, gives a detailed ideas on how to develop, implement and use Balanced Scorecard to improve business productivity.