Continuing on the Business Foundations Specialization on Coursera I have started to learn the basics on improving business processes. The basic overview on operations is how to increase productivity and deliver higher quality standards, most people see the focus on creating cost efficiencies but it also has a lot to do with the quality of service that is provided at every step of the customer experience. Key concepts include process analysis, bottlenecks, flows rates, and inventory levels, and more.

The Four Dimensions of Performance:

  • time / responsiveness
  • variety
  • quality
  • price / cost / efficiency
  • Efficiency
  • Labour
  • Customers
  • Product quality - how good?
    • customer service
  • Process quality - as good as promised?
  • customer heterogeneity (the vast majority)
  • # items sold
  • % requests made happy
  • Responsiveness to demand
Efficient frontier: where all other players in the industry sit. (inside to the lower left)