Operations for JIT interview preparation
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The document highlights key attributes companies seek in candidates, including resourcefulness, subject mastery, and industry knowledge. It discusses various problem-solving frameworks and essential project management techniques, along with inventory management systems and supply chain strategies. Additionally, it emphasizes the significance of customer satisfaction, supply chain performance metrics, and sourcing strategies in business operations.
Operations for JIT interview preparation
- 2. What do Companies look for? Resourcefulness: Ability to apply theoretical knowledge Command over subject Knowledge of buzzing concepts. Eg: RFID Knowledge of the concerned industry Problem solving attitude
- 3. A framework of problem solving Identify the problem Specify the criteria based on which the solutions will be evaluated Find out the possible solutions Choose the best one based on the criteria (If multiple criteria are involved use linear programming) Implement the solution
- 4. Statistical Process Control Control Charts Pareto Analysis Cause and Effect Diagrams Scatter Diagram Process Flowchart Process Capability
- 8. Failure Mode Effect Analysis(FEMA) Failure Mode Cause of Failure Effect of Failure Corrective Action Stale low moisture content expired shelf life poor packaging tastes bad won’t crunch thrown out lost sales add moisture cure longer better package seal shorter shelf life Broken too thin too brittle rough handling rough use poor packaging can’t dip poor display injures mouth chocking perceived as old lost sales change recipe change process change packaging Too Salty outdated receipt process not in control uneven distribution of salt eat less drink more health hazard lost sales experiment with recipe experiment with process introduce low salt version
- 10. Project Management Steps: • Define activities • Sequence activities • Estimate time • Develop schedule Techniques: • Gant Chart • CPM/PERT
- 11. Project Management Gant Chart CPM/PERT
- 13. Facility Layout
- 14. Process Layout
- 15. Product Layout
- 19. Kaizen
- 20. Inventory Management Elements of Inventory Management Inventory Control Systems Continuous system (fixed order-quantity) Periodic system (fixed- timeperiod) Economic Order Quantity(EOQ) Models Re-order Point Order Quantity for Periodic Inventory System
- 21. Role of Inventory Improve Matching of Supply and Demand Improved Forecasting Reduce Material Flow Time Reduce Waiting Time Reduce Buffer Inventory Economies of Scale Supply / Demand Variability Seasonal Variability Cycle Inventory Safety Inventory Figure Error! No text of Seasonal Inventory
- 22. Inventory Management Types of Inventory Inventory Control System Continuous system (fixed order-quantity) Periodic system (fixed-time period) EOQ Reorder Point Safety Stock Two bin system Lot Size Kanban
- 23. Sales and Operations Planning Process Copyright 2011 John Wiley & Sons, Inc.
- 25. Value Stream Mapping (VSM)
- 26. Customer Satisfaction Strategies Actual Performance Providing satisfiers (performance needs) can keep you in a market Providing delighters (unknown exciting characteristics) can get you market leadership. CustomerSatisfaction Very Satisfied Very Unsatisfied PerformsVeryPoorly You are “OK if you don’t provide them. PerformsVeryWell redial button on telephone receiver; spare change holders/ soft drink holders in automobiles; one-touch recording button on some VCRs; Customer Satisfaction Strategies – Kano Model
- 27. Supply Chain: Manufacturing Example Cereal Manufacturer Flour Processor Polyethylene Bag Manufacturer Chemical Processor Farmer Oil Company Forest Lumber Provider Corrugated Manufacturer Grocery Distributor Retail Grocer Consumer 1st Tier Supplier 2nd Tier Supplier 2nd Tier Customer 1st Tier Customer 3rd Tier Supplier 3rd Tier Customer (Material) Products and Services Finance Information Demand Supply Upstream Internal Downstream Focal Company A Sample Supply Chain
- 28. BENCHMARKING SUPPLYCHAIN USING FINANCIAL DATA Total Length of the Chain Days of Raw Material (DRM)+ Days in Work In Process + Days in Finished Goods Supply Chain Inefficiency Ratio: Supply Chain Management Cost (SCC) / Net Sales (NS) SCC = DC + INV * ICC Supply Chain Working Capital Productivity: Net Sales (NS) / Supply chain Working Capital (SWC) SWC = INV +AR–AP
- 30. Toyota’s Seven Waste 30 Transportation Inventory Motion Waiting Time Overproduction Over Processing Defects (T I M W O O D)
- 31. TYPES OF ACTIVITIES Value-added Anything that directly adds value to the product or services as seen or experienced by the customer Non-value added Waste (should be eliminated) Necessary non-value added Non-value added, but necessary and hard to eliminate (e.g., planning, scheduling, purchasing, quality control, etc.) 31
- 32. Necessary, nonvalue-added activities Planning Scheduling Purchasing Quality Inspection Process/equipment changeover Equipment preventive maintenance/repair Others? Can these be eliminated? 32
- 33. Bullwhip Effect The bullwhip effect is a phenomenon observed in supply chains where the demand variability increases as one moves up the supply chain from customers towards to distributors to manufacturers. At P&G, diaper orders issued by distributors have a degree of variability that cannot be explained by consumer fluctuations alone At Hewlett-Packard, the orders placed to the printer division by resellers have much bigger swings and variations that customer demands Bullwhip effect refers to the phenomenon where orders to the supplier tend to have larger variance than sales to the buyer (i.e., information distortion) and the distortion propagates upstream in an amplified form (i.e., variance amplification).
- 35. Measuring Supply Chain Performance Assets committed to inventory Inventory turnover Average aggregate value of inventory
- 36. Performance Measurement Systems Balanced Scorecard (Kaplan/Norton,1992) The Performance Prism (Neely et al., 2002) Skandia’s Navigator Edvinsson / Marlone, 1997)
- 38. Regression The technique is used to find the equation that represents the relationship between the dependent and independent variables and what proportion due to independent variables. Can be used to find out the cause of some problems when the underlying relationship among different variables is not known
- 39. Useful Websites madehow.com how products are made repository of how things are made in short Referenceforbusiness.com Encyclopedia of company history For fundas of management http://www.ibef.org/industry For snapshot of an industry including the key figures A readymade ppt of the industry
- 40. Food for Thought… Some amount of dexterity in marketing and HR is also required Hence a visiting company will expect a complete solution from your side not just in operations. Show them that you have a command over theory Show them that you can work with unstructured problems Concepts is your home turf. You cannot not compromise on that You are also expected to know the industry in and out. Knowledge of recent issues is a must. Know key terms in an industry. For eg API in a pharmaceutical industry