Introductions to EEMT512

Dr. Jeff Hong

IELM Dept, HKUST
Fall 2010

Note 00: Introductions 1

Operations Management
„ Operations management is the management of processes or
systems that create goods and/or provide services.
„ Operations is one the 3 basic functions of a business organization.

Business Organization

Finance Operations Marketing

„ The operations function is the core of most business organizations;

it is responsible for the creation of an organization’s goods or
services (transforming inputs into goods or services)
„ The essence of the operations function is to add value during the
transformation process.

Note 00: Introductions 2

About this course
„ We will cover many important topics in this course
‰ Basic dynamics of operations systems
‰ Analysis of system variability
‰ System analysis using computer simulation
‰ Inventory management and forecasting
‰ Production management
‰ Production planning
‰ Human behaviors in operations management

Note 00: Introductions 3

About this course
„ Reference Book:
‰ Factory physics, 2nd edition. Hopp and Spearman, 2000.

„ Grading scheme
‰ Group assignments: 20% (6 students per group)
‰ Group project: 30%
„ Presentation: 15% (22, 29 November)
„ Final report (2-page executive summary + Appendix): 15%
Due on 12 December (by email)
‰ Final exam: 50% (6 December)

Note 00: Introductions 4