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Talk: Operations strategy: a decision and evaluation frame... (57 min)

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DETAILED SLIDE INDEX

  1. 1. Introduction
  2. 2. Concept and framework of operations strategy
  3. 3. The meaning of 'operations'
  4. 4. Service operations
  5. 5. Who has better operations?
  6. 6. Southwest and "bags fly free"
  7. 7. What is operation?
  8. 8. An example: Postal Service and FedEx
  9. 9. Three views of operations
  10. 10. The operating system of the firm
  11. 11. Designing the operating system
  12. 12. Defining a 'good operating system'
  13. 13. The principles of alignment
  14. 14. Southwest Airlines vs. American Airlines
  15. 15. Can an operation be good at everything?
  16. 16. VCAP framework for operations strategy
  17. 17. What defines a good operation?
  18. 18. The VCAP framework
  19. 19. The Swiss watch industry
  20. 20. Assessment of current OpsStrat
  21. 21. Swiss watch makers in the late 1970s
  22. 22. The turnaround
  23. 23. Innovation capability
  24. 24. Dynamics in competency space
  25. 25. The Swatch case - learning points
  26. 26. Summary
  27. 27. END

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TALK'S CITATION

Van Mieghem, J.A. (2012), "Operations strategy: a decision and evaluation framework", in Van Mieghem, J.A. (ed.), Operations Strategy: , The Marketing & Management Collection, Henry Stewart Talks Ltd, London (online at http://hstalks.com/?t=MM1623396)

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ABOUT THIS TALK

Speaker(s)

Prof. Jan A. Van Mieghem Show Biography

SPEAKER BIOGRAPHY

Prof. Jan A. Van Mieghem – Kellogg School of Management, Northwestern University, USA

Jan A. Van Mieghem is the Harold L. Stuart Distinguished Professor of Managerial Economics and Professor of Operations Management at the Kellogg School of Management at Northwestern University. During 2009-2010, he served as Senior Associate Dean: Curriculum and Teaching of the Kellogg School. From 2006 - 2009, he served as the chairman of the Department of Managerial Economics and Decision Sciences. He received a PhD in Business and an MSEE from Stanford University, and holds an electrical engineering degree from the Katholieke Universiteit Leuven, Belgium. Prof. Van Mieghem's research and teaching focuses on product, service and supply chain operations and studies both strategic questions as well as tactical execution. He is past editor of the operations and supply chain area of Operations Research and has served on the editorial board of several professional journals. He is the author of over 30 academic articles published in the leading journals, and of two textbooks: one on operations management and the other on operations strategy. His paper co-authored with Marty Lariviere received the first MSOM best paper award in 2007.

Publication Date

December, 2012

Topics Covered

Operations management... more

TOPICS COVERED IN THIS TALK

  • Operations management
  • Concept
  • Framework
  • Resource view
  • Process view
  • Competency view
  • Operating system of the firm
  • A strategic framework for operations
  • Principle of alignment
  • Principle of value maximization
  • VCAP framework
  • Operational focus
  • Tradeoff curves
  • Efficient frontier
  • Separating complexity and simplicity
  • Operational competency space

Series

Operations Strategy

OTHER TALKS IN THIS SERIES

VIEW THE TALKS
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1. Operations strategy: a decision and evaluation framework
Prof. Jan A. Van Mieghem
Play '2. Operations strategy: competition, competencies & trade-offs'
2. Operations strategy: competition, competencies & trade-offs More info
Prof. Gad Allon

TOPICS COVERED IN THIS TALK

  • Case: Sugar & Spice
  • Cupcake wars
  • Competitive benchmarking
  • Analyzing a competitive threat
  • Differentiation vs. low cost
  • Operational efficiency
  • Comparing operations
  • Scale
  • Competitive cost analysis
  • Fixed costs
  • Operational advantage
  • Tradeoff curves
Play '3. Capacity strategies'
3. Capacity strategies More info
Prof. Brian Tomlin

TOPICS COVERED IN THIS TALK

  • Operations strategy
  • Asset strategy
  • Capacity planning hierarchy
  • Capacity expansion approaches
  • Timing strategies
  • Chasing, leading and lagging
  • Capacity sizing
  • Hedging uncertainty
  • Drivers of capacity strategy
  • Capacity planning models
  • Capacity planning process
  • Capacity planning organization
Play '4. Inventory and supply chain strategies'
4. Inventory and supply chain strategies More info
Prof. Jing-Sheng Song

TOPICS COVERED IN THIS TALK

  • What is a supply chain
  • Role of inventory in supply chains
  • Fundamental inventory control policies, concepts, and laws
  • EOQ formula
  • Newsvendor model
  • Base-stock policy
  • Reorder-point
  • Order quantity policy
  • ABC analysis
  • Safety stock
  • Inventory position
  • Echelon stock
  • Internal fill rate
  • Basic principles for managing inventory to gain competitive advantage
  • Risk pooling
  • Risk sharing
  • Information sharing
  • Reallocation of decision rights
  • Capacity and inventory tradeoffs
  • Matching supply chain capability with product features
  • Successful supply chain innovations
  • Cross-docking
  • Quick response
  • Accurate response
  • Vendor managed inventory
  • Postponement
  • Assemble-to-order
  • Economies of scarcity
Play '5. Flexibility'
5. Flexibility More info
Dr. Jiri Chod

TOPICS COVERED IN THIS TALK

  • Resource flexibility
  • Risk pooling
  • Revenue maximization
  • Operational Hedging
  • Network flexibility
  • Inventory centralization
  • Inventory transshipment
  • Delayed product differentiation
  • Component commonality
  • Mass customization
  • Make-to-order and service operations
  • Volume flexibility
  • Flexibility and lean operations
  • Flexibility and global operations
Play '6. Operational and financial hedging'
6. Operational and financial hedging More info
Prof. John R. Birge

TOPICS COVERED IN THIS TALK

  • Risk management and hedging definitions
  • Foreign exchange risk mitigation alternatives
  • Production as an option
  • Comparisons of operational and financial hedges
  • Capacity evaluation
  • Hedging with storage
  • Hedging with variable production
  • Flexible capacity evaluation
  • General risk reduction strategies
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TOPICS COVERED IN THIS TALK

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  • Industrial case study 1: Inbound routing optimization at Dell
  • Industrial case study 2: Distribution optimization at Zara
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TOPICS COVERED IN THIS TALK

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  • Supplier relationships
  • Supplier roles
  • Contracts and revenue sharing
  • Offshoring
  • Global sourcing
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TOPICS COVERED IN THIS TALK

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  • Consequence of misaligned incentives
  • Partial returns policies
  • Properties of coordinating contracts
  • When to implement advanced contracts
  • Additional complications
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10. Innovation and new product development (INPD) More info
Prof. Vish Krishnan

TOPICS COVERED IN THIS TALK

  • Agenda
  • INPD and operations strategy
  • Innovation and New Product Development (INPD)
  • Growth from operations strategy through INPD
  • Operational growth
  • Organic growth
  • Inorganic growth
  • Operations strategy vs operations management
  • Consistent INPD and premium valuation
  • INPD challenge
  • Lead time
  • Buildup of technological capability
  • Types of innovations
  • Operational approach to innovation
  • Evolution through linkages
  • Temporal linkages
  • Spatial linkages
  • Process linkages
  • UPS example
  • Caveats with idea expansion
  • Resistance to change
Play '11. Service operations strategies'
11. Service operations strategies More info
Prof. Richard Metters

TOPICS COVERED IN THIS TALK

  • Characteristics of services
  • Strategic service vision
  • De-coupling services
  • Strategies of cost, flexibility, speed and quality
  • Back-office de-coupling strategies
Play '12. Understanding recurrent and disruptive risk in supply chains'
12. Understanding recurrent and disruptive risk in supply chains More info
Prof. Sunil Chopra

TOPICS COVERED IN THIS TALK

  • Outline
  • Recurrent risk
  • Rare disruptive events
  • Dealing with recurrent risk
  • Building reserves
  • Risk reduction
  • Buffers and disruptions
  • Integration
  • Estimating disruptive events
  • Simple continuous model
  • Impact of misestimating disruption probability
  • Unknown probability of disruption
  • "Integration" in a supply chain
  • Benefits and costs of integration
  • Network design strategies
  • Learning summary
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13. Making the leap: how high velocity organizations get ahead and stay ahead More info
Dr. Steven J. Spear

TOPICS COVERED IN THIS TALK

  • G-A-P-S
  • Making giant leaps
  • Moon mission
  • Mercury
  • Gemini
  • Apollo
  • Explorer
  • Stumbling to catastrophe
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  • Symmetry of success and failure
  • See problems
  • Solve problems
  • Share discoveries
  • Lead improvement
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14. The encroachment framework part 1 of 2 More info
Prof. Bo van der Rhee
Prof. Glen Schmidt

TOPICS COVERED IN THIS TALK

  • New products can take market share
  • New attributes can be introduced
  • The encroachment framework
  • Six types of new products & services
  • Immediate high-end
  • Immediate low-end
  • New attribute high-end
  • Fringe market low-end
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  • Core attribute performance vs. New attribute performance
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Prof. Bo van der Rhee
Prof. Glen Schmidt

TOPICS COVERED IN THIS TALK

  • The encroachment framework
  • Implementing the encroachment framework
  • Brief history of the video games industry
  • Case study
  • Wii
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Play '16. Sustainability in operations'
16. Sustainability in operations More info
Prof. Dr. Arnd Huchzermeier

TOPICS COVERED IN THIS TALK

  • Sustainability in operations
  • Population growth, climate change, wells
  • People, planet, profit
  • Eco-efficiency vs. eco-effectiveness
  • Sustainability and competitiveness
  • Business case 1: green retailing
  • Business case 2: green sourcing
  • Business case 3: green manufacturing
  • Business case 4: green accounting
  • Challenges, actions, benefits
  • Future trends in sustainability
  • Key levers of sustainability in operations
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17. Leadership in middle management and operations More info
Prof. Christoph H. Loch

TOPICS COVERED IN THIS TALK

  • The connection between top strategy and front line operations
  • Strategy cascading through goals and actions
  • The paradox of leadership at the mid level
  • The emotional roots and double sides of leadership
  • The benefits and risks of leadership for groups
  • Leadership skills and behaviour at the front line
Play '18. Caterpillar bundles to win: operations strategy in action'
18. Caterpillar bundles to win: operations strategy in action More info
Prof. Sridhar Tayur

TOPICS COVERED IN THIS TALK

  • Product portfolio as strategic choice
  • Inventories growing faster than sales
  • Trade-off between market share and costs of complexity
  • Burning platform for radical change in operations strategy
  • Mathematical model for profit maximization
  • Customer behavior
  • Migration lists
  • Drivers of complexity
  • Bundling recommendation
  • Itemized value creation
  • Asymmetric strategy choice in duopolistic competition

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