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Management of Operations and Business Analytics

   

Added on  2023-06-03

29 Pages5803 Words50 Views
Running head: MANAGEMENT OF OPERATIONS AND BUSINESS ANALYTICS
1
Management of operations and business analytics
Name of Student
Institutional Affiliation
Name of Professor
Date

MANAGEMENT OPERATIONS AND BUSINESS ANALYTICS
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EXECUTIVE SUMMARY
This report is has two sections. The first section covers the operations management while
the second part covers the business analytics section. In the first section, the manufacturing
industries have been reported to have big volumes of data that are involved in the management of
operations and the daily activities. It has been noted that it is quite challenging to coordinate
initiate all the activities taking place in a manufacturing industry with sufficient speeds while
minimizing the wastes as well as conserving the environment. To provide a solution to this
problem, this research study seeks to address the problem using the Lean manufacturing and the
Six Sigma approach while considering the environmental conservation. The study uses an Indian
automotive manufacturing industry as a case study to implement the selected techniques for
addressing the wastages and speeding up operations. The study will explain the background
information to the topic with a critical literature review in the proceeding section. Moreover, the
study will explain the Lean manufacturing in details and the application of Six Sigma approach
in the industries. The limitations of these techniques are outlined in the study with the conclusion
and recommendations.
The second part of the report covers the business analytics tools using the Excel solver
method to determine the optimal production plan of two brands of wine. The second part also
appreciates the application of the sensitivity analysis technique in business analytics.

MANAGEMENT OPERATIONS AND BUSINESS ANALYTICS
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EXECUTIVE SUMMARY...........................................................................................................2
TASK A...........................................................................................................................................5
Management of lean six sigma with environmental consideration in manufacturing............5
Introduction....................................................................................................................................5
The Topic of study and purpose...............................................................................................5
Background information...........................................................................................................6
Aims and scope...........................................................................................................................6
Critical literature review...............................................................................................................7
Findings and analysis....................................................................................................................9
Lean manufacturing..................................................................................................................9
The Six Sigma Approach.........................................................................................................11
The define phase...................................................................................................................12
Measure phase......................................................................................................................13
Analysis phase.......................................................................................................................14
Improve phase.......................................................................................................................14
Control phase........................................................................................................................14
Discussion.....................................................................................................................................15
Limitations of Lean Six Sigma techniques................................................................................16
Conclusion....................................................................................................................................16

MANAGEMENT OPERATIONS AND BUSINESS ANALYTICS
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Recommendations........................................................................................................................17
References.....................................................................................................................................18
TASK B.........................................................................................................................................21
Wine maker Applications for Data Analytics...........................................................................21
The seven-step modelling process...........................................................................................21
Step 1: Objective definition...................................................................................................21
Step 2: Data collection...........................................................................................................21
Step 3: Preparation of data for modelling............................................................................21
Step 4: Selecting and transforming the variables................................................................21
Step 5: Evaluating and processing the Model......................................................................22
Step 6: Model validation........................................................................................................22
Step 7: model implementation and maintaining..................................................................22
The objective function of the wine maker..............................................................................22
The decision variables..............................................................................................................23
The constraints for the winemaker.........................................................................................23
Questions......................................................................................................................................24
a) The optimal production plan and the profits made.......................................................24
b) Sensitivity analysis for the problem................................................................................25
c) Impact of the change in production plan........................................................................26

MANAGEMENT OPERATIONS AND BUSINESS ANALYTICS
5
d) The choice of the wine to be made...................................................................................27
APPENDIX...................................................................................................................................28

MANAGEMENT OPERATIONS AND BUSINESS ANALYTICS
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TASK A
Management of lean six sigma with environmental consideration in manufacturing
Introduction
Operation management and business analytics provide key skills and knowledge that are
necessary to effectively apply and implement statistical and quantitatively based modelling
techniques to data and use the obtained information from the analyses to drive critical decisions
concerning the improvement of a business enterprise (Choi, Tsan-Ming, and Hing 2017, pp.81-
92). However, this study seeks to examine the management of lean and the six sigma approach,
which is a tool that is applied in the management of operations and analyses in businesses.
The Topic of study and purpose
This topic of management of lean and six sigma with environmental consideration was
selected for study to bring to light the potential gains that can be brought about by improving the
industrial management operations as well as sustaining the environmental conservations
measures (Garza-Reyes, 2015, pp.226-248). Purpose of this research topic is to bring out an
argumentative discussion that would promote lean manufacturing and the six sigma approach in
the manufacturing industry as well as appreciating the environmental conservation by
minimizing wastes and harmful industrial disposals.
Background information
(Cherrafi et al., 2017, pp.4481-4515) acknowledges that lean manufacturing is a
methodology in industrial production, which aims to eliminate the wastes, simplify procedures,
and speed up operations at the same time. However, six sigma is considered as an improvement

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