Optimization and Analysis of People, Resources, & Processes.
Operations Management oversees all activities directly related to making a product or providing a service. This functional area is responsible for the processes that transform or convert inputs of materials, equipment, energy, information, and human skills into goods and services that satisfy customer needs. This includes business processes (purchasing, order entry, billing, recruiting, training, payroll, etc.) where the immediate customers are primarily internal to the organization. Large portions of the organizational resources (labour, capital, and materials) are devoted to or allocated by the operations function. The curriculum will often include hands on industry-based projects.
Production Planning and Control
An in-depth treatment of inventory and production within an organization. Topics covered include inventory control, sales and operations planning, materials requirements planning, and lean processes. Recent advances in manufacturing may also be discussed.
Managing Quality in Products and Services
An in-depth treatment of quality management practices and techniques for products and services. Topics and techniques covered include designing and assuring quality, quality issues in the supply chain, statistical quality measurement, and continuous process and quality improvement.
Service Operations Management
The management of service businesses from both a qualitative and quantitative perspective. Topics may include service design and performance measurement, service quality and recovery, managing people in service industries, service demand forecasting, scheduling, managing lineups, yield management, network optimization, and the role of information technology. Industry examples include travel and hospitality, professional services, retail, communication and transportation and banking.
The management of projects in a variety of settings such as software development and installation, disaster relief, new product development, advertising campaigns and financial auditing are examined. Material from the organizational, planning, technical, financial, informational, and logistical aspects of project management will emphasize the interdisciplinary nature of projects. Use of commercial computer software for planning and scheduling projects is learned.
Computer Simulation for Business
Companies encounter numerous problems that are characterized by uncertainties for which they need to find a solution. Simulation provides a means for imitating the behavior of real-life situations in a computer environment, allowing for "what-if" analyses of different scenarios. Hands-on experience in creating simulation models and obtaining reliable results for decision making with the use of different simulation techniques is gained.
Field Investigations in Operations Management
Field investigation concerned with operational improvements with an off-campus organization. Students work in teams on a single project. Both oral and written reports are required.
Prescriptive Models in Business Analytics
Identification of data requirements for analytical decision-making. Case studies used throughout to develop insight for decision making while dealing with incomplete and ambiguous data. Introduction to VBA-enabled spreadsheet modelling to design and implement optimization models without/with uncertainty as well as advanced Monte Carlo simulation.
Predictive Models in Business Analytics
Decision making with big data and predictive analytics methods. Students learn to describe and visualize business data, as well as to make predictions and classifications with data. Methods include regression models, regression trees, association rules and cluster analysis.