4'mS - ENTREP

• All the activities required to create and deliver an organization's goods or services to its customers or clients

  Operations
• Concerned with planning, organizing and supervising in the contexts of production, manufacturing or the provision of services (to improve operations)

  Operations Management
• An activity that converts materials into useful forms

  Production
• What operations look like?

  Input-Process-Output-Consumption
• The Four Key Areas of Operations Management:

  Strategic Operations Mgt.

  Product Design

  Supply Chain Mgt.

  Quality Management
• The workforce involved in the manufacturing process of business:

  Manpower
• Any business no matter how advanced or automated still requires people:

  Manpower
• CRITERIA TO CONSIDER IN HIRING WORKFORCE:

  -Educational qualifications and experience required for the job.

  -Status of employment (permanent or contractual).

  -Number of employees/staffs needed in the job.

  -Skills and expertise required.
• The system and step by step process in the business:

  Method
• The process or technique of converting raw materials to finished products:

  Method
• FACTORS DEPENDENT ON METHOD:

  -Product to produce

  -Mode of production

  -Manufacturing equipment to use

  -Required skills to do the work
• Manufacturing equipment used in the production of goods or delivery of services:

  Machines
• FACTORS TO CONSIDER WITH EQUIPMENT:

  -Cost of the equipment

  -Capacity of the equipment

  -Availability of spare parts in the local market

  -Efficiency and durability of the equipment

  -Skills required in operating the equipment
• Raw materials needed in the production or manufacturing of a product:

  Materials
• FACTORS TO CONSIDER WITH MATERIALS:

  -Cost

  -Quality

  -Availability

  -Credibility of suppliers

  -Waste that the raw materials may produce