Study Guide

Objective

The student learns to understand business operations (B2B), supply and distribution networks, customer value, and profitability. The student learns about the current and the future management and leadership. The student learns Lean Management principles in a business or an organization with continuous improvement with small and incremental changes to improve the value of products or services (with improved quality) and decrease wastes, defects, and costs. The student understands the impact of sustainable development and circular economy on industrial engineering.

Content

- How to run business operations.
- Lean management principles; factors contributing to organizational waste; examining ways to eliminate waste; developing & implementing improved organizational processes, for significant impact to the company’s bottom line.
- How lean management today represents a profound change in the competitive business culture and a leading indicator of excellence in the organization
- Basic principles of lean management strategy, in POM (production and operations management) & supply chain management
- How by implementing lean management organizations can improve product & processes without adding any more money, people, equipment, inventory, or space and aim for perfection.

Assessment criteria, satisfactory (1)

The student knows principles of business operations and Lean management.

Assessment criteria, good (3)

The student can utilize the information of current business operations to improve quality and decrease waste, defects and costs.The student knows the Lean Management principles.

Assessment criteria, excellent (5)

The student understands business operations and can show how by implementing lean management organizations can improve product & processes without adding any more money, people, equipment, inventory or space and aim for perfection.