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UNIT-VIII

ContemporaryManagement Practices

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INDEXUNIT 8 PPT SLIDES

S.NO. TOPIC LECTURE NO.

1. Contemporary Management Practices L1

2. Basic concepts of MIS, End User Computing L2

3. Materials Requirement Planning L34. (MRP) Just-In-Time ( JIT ) Systems L4

5. Total Quality Management ( TQM ), Six sigma L5

6. Capability Maturity Model ( CMM ) Levels L6

7. Supply Chain Management Business process L7

8. (ERP) Performance Management L8

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Just-In-Time (JIT)

JIT is an alternative to MRP system for certain typeof production and as a bridge between management

and work guide lines. JIT is applied systematically can have wide range of

implications on marketing and transportation besideseconomizing production.

JIT is defined as an approach to minimize waste inmanufacturing in the fore of time, energy and errors.

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Total Quality Management (TQM)

TQM is a total management system that setsthe direction and focus the vision on thecompany.

TQM allows to identify and develop aninteraction among corporate problems forsolutions.

TQM specify policy management , teamefforts, vendor quality, education andtraining.

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Six sigma and Capability Maturity

Model (CMM)

Six sigma is a tool that must be wielded both at thedesign stage and at the process stage.

Six sigma is converting defect prove business in topower of performance.

Objectives of six sigma are: design, operate andcontrol everyone of the processes in such a way that

more of them yield more than 3,4defects out of every1 million units of outputs

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Supply Chain Management

Supply chain is the entire process of

accepting a customer order through todelivery of the product to the customerinclusive of supply procurement andproduction of the product.

SCM is the overall system of coordinatingclosely with suppliers so that both the firmand its supplier reap the benefit of smallerinventories, some other production and less

waste.

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Supply Chain Management

SCM is the coordination of purchasing,

manufacturing, shipping, and billingoperations, often supported by an ERPsystem.

It can also be said that it is the coordination

of all the activities and information flowsinvolved in buying, making and moving aproduct.

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Enterprise Resource Planning (ERP)

ERP is an integrated cross functionalsoftware that re-engineers manufacturing,distribution, finance, human resources andother basic business processes of a

company to improve its efficiency, agility andprofitability.

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Performance Management

Displays the performance outcomescalculated for quarters exiters, where all

UI wage data has NOT been posted.

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Performance Management Example

Year To Date Managers Report Displaysonly the quarters for which all UI wage

data has been posted and whose programyear September 30th deadline has notpassed. Supplemental income can still beadded in the Year To Date ManagersReport outcomes. Select the LWA,program year and program quarter fromthe drop down boxes. Select viewoutcomes.

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Business Process Outsourcing

(BPO)

It is the process of purchasing products or

services from another firm. It is the practice of contracting computer

center operations, telecommunicationnetworks, or applications development to

external vendors. Eg:-All major auto companies outsource

manufacturing of many components.

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Business process Re-engineering:-

Dr. Michael Hammer defines BPR as thefundamental rethinking and radical redesignof business processes to achieve dramaticimprovements in critical contemporary

measures of performance such as cost ,quality, service and speed.

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Bench Marking:-

Bench marking is a skill, an attitude and practice onexcellence. A bridge between staff analysis, design

of line programme for continuous improvement.

Bench marking is the first step to effective TQM. It iscomparatively new to Indian companies.

It is the continuous process of measuring products,

services and practices against the competitor.

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Balanced Score Card:-

The Balanced Scorecard Toolkit reviews the

history of Balanced Scorecard concept,compares this concept with othermanagement concepts, gives a detailedideas on how to develop, implement and use

Balanced Scorecard to improve businessproductivity.