In this written assignment, you will demonstrate your understanding of the concepts related to measuring performance in operations and value chains. You will focus on the topics of types of measures used for decision-making, the difference between internal and external measures, the design of good performance measurement, and models of organizational performance.
Objectives
Identify the key components, functions, and historical development of operations management and value chain systems (CLO 1, CLO 2).
Analyze and compare the differences between value and supply chain processes and the key challenges that OM faces in today’s global environment (CLO 5).
Explain the various types of performance measures used for decision making (CLO 3, CLO 4).
Instructions
To complete this assignment, you will need to:
Identify the different types of measures used for decision-making in operations and value chain management, and explain why these measures are important for organizations.
Analyze the difference between internal and external measures of performance, and discuss how organizations can balance these two types of measures in their performance management strategies.
Design a good performance measurement system for a hypothetical organization, taking into account the key components of such a system and how it can be aligned with the organization’s overall business objectives.
Evaluate different models of organizational performance, and explain how organizations can use these models to improve their operations and overall performance.
Analyze the frameworks for resource planning in goods-producing and service-providing organizations, and discuss the key considerations for effective resource planning in these different types of organizations.
Apply the concepts of capacity and forecasting to a real-world scenario, and discuss how organizations can use these concepts to improve their operations and overall performance.