Operations Management is finished now. Everything is complete. All in all I enjoyed the class a lot, and that's not just because I received my first straight A from it. While predominantly manufacturing based obviously I thought there was a lot that could be taken and used in service industries. The professor, Jim Rappold, was great and organized everything around what he called "the six laws of supply chain physics"
- Local optimization results in global disharmony.
- The average amount of inventory in a system is equal to the product of the demand rate and the average time a unit is in the system (Little's Law).
- Inventories are a consequence of supply chain design and customer service objectives.
- Effective supply chain design will reduce uncertainty dramatically and improve operational and financial performance significantly.
- To forecast is to err.
- Keep your assets in their most flexible form for as long as it is economically and operationally possible.
The first half of the course was regular lectures, readings and assignments. The second was based on a fictious company called NOVA. In our teams we had to go through the steps of designing a supply chain for NOVA, leading to a presentation (which we screwed up), a paper (which we did above average on), and a simulation using our recommendations (which we aced). Unfortunately Professor Rappold will be working with the Executive Education next year so MBAs won't be able to take his class, but I'm sure he'll be around as a resource anyway.