The document discusses the 4Ms of operations - Manpower, Machine, Materials, and Methods. It defines each of the 4Ms as the key inputs in the operations function. Manpower refers to the human labor force. Machine refers to the manufacturing equipment used. Materials include the raw materials needed. Methods are the operating systems, technologies, and procedures used by the enterprise. The 4Ms enable the transformation of inputs into outputs through the operations process.
The document discusses the 4Ms of operations - Manpower, Machine, Materials, and Methods. It defines each of the 4Ms as the key inputs in the operations function. Manpower refers to the human labor force. Machine refers to the manufacturing equipment used. Materials include the raw materials needed. Methods are the operating systems, technologies, and procedures used by the enterprise. The 4Ms enable the transformation of inputs into outputs through the operations process.
The document discusses the 4Ms of operations - Manpower, Machine, Materials, and Methods. It defines each of the 4Ms as the key inputs in the operations function. Manpower refers to the human labor force. Machine refers to the manufacturing equipment used. Materials include the raw materials needed. Methods are the operating systems, technologies, and procedures used by the enterprise. The 4Ms enable the transformation of inputs into outputs through the operations process.
LESSON 1 - THE 4M'S OF OPERATIONS MANPOWER The 4M's of operations function cover the Human labor force involved in the process input portion of the Enterprise Delivery and is considered as the life-blood of the System (EDS) Design Framework or the operations function Business Model. Business model describes the Selection criteria for the right person like reasons on how an organization creates, educational attainment, experience, skills delivers, and captures value in economic, and expertise, and number of workers are social, cultural or other contexts. To better must be highly to be considered by the illustrate how 4M's work across the entrepreneur. framework, refer to table below: Manpower enables the entire INPUT THROUGHPUT OUTPUT transformation process to operate by Resources Transformation Products manning the machines or rendering the Mobilized: process- -Goods services required. Manpower conversation of made Machine input into -Services MACHINE Materials output. rendered Discusses about manufacturing equipment Methods used in the production of goods or delivery of services. FINAL DELIVERY OUTCOMES An entrepreneur must carefully identify TO COSTUMERS what types of machinery and equipment Marketing Customers: he/she must purchase that will benefit - Marketing - Quality the business cost effectively and Program - Delivery - Price efficiently. Customer Servicing - Service Level Market MATERIALS Experience Expectations: This includes all the raw materials needed - Revenues/Sales to be further process in order to form - Market Share part of the final product in the production - Market Reach process. Selecting the cost, quality, availability of Finance supplies, and the credibility of suppliers is Expectations: a must consideration by the entrepreneur. - Profits - Return on METHOD Investment Methods included are the operating systems, technologies, practices; and When the input enters into a transformation procedures, and are used by the process, it yields its desired output which will enterprise in order to obtain the best then be subjected to final delivery to performance metrics. customers and an outcome is expected in Methods are ways of doing things. terms of customer, market, and finance expectations. Inputs are classified into four (4): LESSON 4: THE 4Ms OF OPERATIONS Mary Iah Bokingo PROTOTYPING AND PRODUCTION DESCRIPTION Prototyping is one of the early steps in inventing process. Prototyping is a duplication of product which may contain such details as color, graphics, packaging, and directions. Benefits are the reasons why customers will decide to buy the products such as affordability, efficiency or ease of use. Product description is the promotion that explains what a product is and why it's worth buying. The purpose of a product description is to provide customers with details around the features and benefits of the product so they're obliged to buy.
SUPPLIER, VALUE CHAIN, AND SUPPLY
CHAIN Suppliers are your business partners; without them your business will not live. But as an entrepreneur you have to choose a potential supplier that has loyalty and value your partnership. Value chain is a method or activities by which a company adds value to an item, with production marketing, and the provision of after-sales service. A supply chain is a structure of organizations, people, activities, data, and resources involved in moving a product or service from supplier to customer. The main objective of supply chain management includes management of varied range of components and procedure. For instance, storing of raw materials, handling inventories, warehousing, and movement of finished product from the point of processing to the point of consumption.