Operations Management (OPMG-UB)

Designed to give students a better understanding of how firms can gain competitive advantage from their operations function. Typically this requires the firm to achieve, at a minimum, cost, quality, and ecological parity; responsiveness and adaptability to customer needs and desires; rapid time to market; process technology leadership; and sufficient and responsive capacity. A problem-solving framework is developed that enables students to undertake managerial and technical analysis that should result in the desired comparative advantage. Both service and manufacturing case examples are utilized.

IThe function of supply chain management is to design and manage the flow of material and information, starting from the raw materials until finished goods reach customers. Typically, logistics-related costs account for 20 to 25 percent of firms total costs. On the revenue side, the supply chain decisions have a direct impact on market penetration and customer service. With the globalization of the economy and advances in information technology, supply chain design and coordination have become important tools for gaining competitive advantage. Therefore, the objectives of the course are to (1) develop an understanding of individual components of the supply chain (such as order management, transportation, network design, distribution channel management, after-sales service, and customer service strategy) and their interrelationships with other functions of firms, such as marketing, manufacturing, and accounting (2) impart analytical and problem-solving skills necessary to develop solutions for a variety of logistics problems (3) understand the complexity of interfirm and intrafirm coordination in implementing programs such as quick response and vendor-managed inventories and (4) develop the ability to design logistics systems and formulate integrated supply chain strategy, so that all components are not only internally synchronized but also tuned to fit corporate strategy, competitive realities, and market needs.

In recent decades, more and more sports organizations have reached out to the application of advanced management methods, in particular statistical, data analysis and operations research/management science techniques. This course is an examination of the most advanced applications of those techniques. The structure of the course is to examine the use of them to four main areas of interest: player performance measurement, in-game decision-making, player selection/team building, and general administration such as marketing, pricing, contracts, stadium management etc. Emphasis will be place on not only how the application of Analytics has improved each of these situations, but how those decisions relate to business decisions in any other field of commerce. For example all businesses have to evaluate employees, make tactical and strategic decisions about how they operate, must maintain a good portfolio of assets in particular recruit and retain quality employees, and have to be good at administering the overall business.

This course will introduce students to the operating process of real estate development from an entrepreneurial perspective. It is directed to students interested in real estate development from the point of view of three classes of investors: 1. an entrepreneurial investor, looking to buy a coop, condo or small property for individual use or rental 2. a working general partner of a small group of investors, who will actually manage and/or be responsible for overseeing the property after purchase 3. a passive outside investor, who may be searching for an investment that is limited in liability to the original investment.

In this course, students explore the major business operations within Panama, focusing significantly on the operational management of the Panama Canal. Students will study the intricate workings of the canal, a cornerstone of global shipping and a marvel of engineering ingenuity. Beyond the canal, students will investigate the growing business sectors propelled by canal revenues, including real estate ventures and tourism. Through a blend of theoretical study and hands-on observation in Panama, students will gain insights into process techniques, strategic operations, and the economic underpinnings that have positioned Panama as a hub of commercial and financial activity on the global stage. The curriculum spans a broad array of topics, starting with the Panama Canal's impact on global logistics, its history, and its role in Panama's independence. Further, the course delves into the dynamics of real estate development, the explosive growth in the tourism sector, and infrastructure. Students will engage in practical analyses of operational metrics, scheduling, supply chain management, and yield management strategies. Additionally, the program offers unique insights into the juxtaposition of large corporate operations against the backdrop of thriving small entrepreneurial businesses. It provides a holistic view of Panama's economic landscape and its rapid ascent as the hub of Latin America.

Companies seek to gain and then maintain competitive advantage so that they can maximize the wealth of their stakeholders. They use their operations to gain competitive advantage by obtaining cost leadership or parity; consistent quality superiority; shorter time to market; responsiveness and adaptability to customer needs and desires; sufficient capacity; utilization of innovative process and product technology; and ensuring environmental neutrality. This course touches briefly on all of the above competitive advantages whilst consistently stressing a problem-solving approach.