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Interlinking is the quantitative modeling of cause-and-effect relationships between

16/12/2020 Client: saad24vbs Deadline: 2 Day

Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM


Measuring Performance in Operations


3


COLLIER/EVANS


5


1


Describe the types of measures used for decision making


Explain the use of analytics in OM and how internal and external measures are related


Explain how to design a good performance measurement system


Describe four models of organizational performance


LEARNING OUTCOMES


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


2


Measurement


Act of quantifying the performance criteria of:


Organizational units


Goods and services


Processes


People


Other business activities


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


3


Measurement


Good measures:


Provide scorecard of performance


Help identify performance gaps


Make accomplishments visible to:


Workforce


Stock market


Other stakeholders


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


Types of Performance Measures


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


5


Financial


Customer and market


Quality


Time


Flexibility


Innovation and learning


Productivity and operational efficiency


Sustainability


Financial Measures


Take top priority in for-profit organizations


Traditional financial measures


Revenue including earnings from new goods and services and growth


Return on investment


Operating profit


Pretax profit margin


Asset utilization


Earnings per share and other liquidity measures


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


6


Customer and Market Measures


Customer and market feedback is used by organization to:


Evaluate the customer and stakeholder’s satisfaction


Customer-satisfaction measurement system: Provides a company with customer ratings of specific goods and service features


Indicates the relationship between those ratings and the customer’s likely future buying behavior


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


Quality


Measures the degree to which the output of a process meets customer requirements


Goods quality: Relates to the physical performance and characteristics of a good


Service quality: Consistently meeting or exceeding customer expectations and service delivery system performance for all service encounters


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


Service Quality


Dimensions


Tangibles


Reliability


Responsiveness


Assurance


Empathy


Every service encounter provides an opportunity for error


Service failures: Errors in service creation and delivery


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


9


Time


Relates to types of performance measures


Speed of doing something


Processing time


Queue time


Variability of the process - Measured by statistics such as:


Standard deviation or mean absolute deviation


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


10


Flexibility


Ability to adapt quickly and effectively to changing requirements


Goods and service design flexibility: Ability to develop a wide range of customized goods and services to:


Meet different or changing customer needs


Volume flexibility: Ability to respond quickly to changes in the volume and type of demand


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


11


Innovation and Learning


Innovation: Ability to create new and unique goods and services that:


Delight customers and create competitive advantage


Learning: Creating, acquiring, and transferring knowledge, and modifying the behavior of employees in:


Response to internal and external change


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


12


Productivity and Operational Efficiency


Productivity: Ratio of the output of a process to the input


Productivity = Quantity of output/Quantity of input


Operational efficiency: Ability to provide goods and services to customers with minimum waste and maximum utilization of resources


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


13


Sustainability


Triple bottom line (TBL or 3BL): Measurement of environmental, social, and economic sustainability


Environmental sustainability measures


Energy consumption


Recycling


Air emissions


Solid and hazardous waste rates


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


14


Sustainability


Triple bottom line (TBL or 3BL)


Social sustainability measures


Consumer and workplace safety


Community relations


Corporate ethics and governance


Economic sustainability measures


Financial audit results


Regulatory compliance


Sanctions and fines


Accomplishment of strategic initiatives


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


15


Business Analytics


Helps operations managers to analyze data more effectively and make better decisions


Applications of business analytics


Visualizing data to examine performance trends


Calculating basic statistical measures


Comparing results relative to other business units, competitors, or best-in-class benchmarks


Using correlation and regression analysis


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


16


Linking Internal and External Measures


Cause-and-effect linkages between key measures of performance explain the impact of operational performance on external results


Interlinking: Quantitative modeling of cause-and-effect relationships between external and internal performance criteria


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


17


3.3 Interlinking Internal and External Performance Measures


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5| CH3


Exhibit


18


Value of a Loyal Customer (VLC)


Quantifies the total revenue or profit each target market customer generates over the buyer’s life cycle


Total market value - Multiplying the VLC times the absolute number of customers gained or lost


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


19


Designing Measurement Systems in Operations


Good performance measures are actionable


Actionable measures: Provide the basis for decisions at the level at which they are applied


Meaningful to the user


Timely


Reflect the way organization generates value to customers


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


20


Models of Organizational Performance


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


21


Baldrige performance excellence framework


Balanced scorecard


Value chain model


Service-profit chain model


Baldrige Performance Excellence Framework


Primary purpose of the program - Provide a framework for performance excellence through:


Self-assessment to understand an organization’s strengths and weaknesses


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


22


3.4 Baldrige Model of Organizational Performance


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5| CH3


Exhibit


23


The Balanced Scorecard Model


Purpose - Translate strategy into measures that uniquely communicate an organization’s vision


Perspectives


Financial - Value to shareholders


Customer - Customer satisfaction and market growth


Innovation and learning - People and infrastructure


Internal - Processes that drive the business


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


24


3.5 The Balanced Scorecard Performance Categories and Linkages


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Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5| CH3


Exhibit


25


The Value Chain Model


Evaluates performance throughout the value chain by identifying measures associated with:


Suppliers


Inputs


Value creation processes


Goods and service outputs and outcomes


Customers and market segments


Supporting management processes


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


26


Service-profit Chain Model


Most applicable to service environments


Based on a set of cause and effect linkages between internal and external performance


Defines the key performance measurements on which service-based firms should focus


Theory - Employees driven through the service delivery system, create customer value and drive profitability


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


27


3.7 The Service-Profit Chain Model


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5| CH3


Exhibit


28


Different measures are used to provide scorecard of performance and to identify gaps in performance


Applications of business analytics helps operations managers to arrive at effective decisions


Good performance measures are actionable


First two models of organizational performance are known as big picture


SUMMARY


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


Last two models of organizational performance provide more detailed frameworks for operations managers


SUMMARY


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


Actionable measures


Customer-satisfaction measurement system


Flexibility


Goods and service design flexibility


Goods quality


Innovation


Interlinking


Learning


Measurement


KEY TERMS


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


Operational efficiency


Processing time


Productivity


Quality


Queue time


Service failures


Service quality


Triple bottom line (TBL or 3BL)


Value of a loyal customer (VLC)


Volume flexibility


KEY TERMS


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


‹#›


Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.


OM5 | CH3


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