Operation Management

Product Planning and Design

WHAT
Product Design is..

·          Is the process of deciding on the unique characteristics and features of the company’s product.

·       The process of defining all of the product’s characteristics (such as it’s appearance, the materials it’s made of, it’s dimentions and tolerances, and it’s performance standards)

·    Continuous process : to remain competitive, companies must be innovative and bring out new products regularly.

New Product Introduction and Development Strategy

·           Market-Pull : make what you can sell

·           Technology Push : sell what you can make

·           Interfunctional

STEP IN THE PRODUCT DESIGN PROCESS

1.         Idea Development

            Source of idea :

-          Costumer

-          Competitors

-          Suppliers

2.         Product Screening

-   Evaluating of it’s likelihood of success by all major business fuctions (Operations, Marketing, and Finance)

3.         Preliminary Design and Testing

-          Translates general performance / function specifications into technical specifications

-          Prototypes are built, tested, change/revised cycle

-         For service companies this may entail testing of the offering on a small scale and working with costumers to refine the service offering.

4.       Final Design

-    Final product specifications are drawn up and then translated into specific processing instructions to manufacture the product.

FACTORS IMPACTING PRODUCT DESIGN

1.        Design for Manufacture (DFM) : a series of guidelines to follow in order to produce a product easily and profitably.

2.        Product Life Cycle : a series of stages that products pass through in their lifetime, characterized by changing product demands over time.

3.         Concurrent Engineering :

-        An approach that brings together multifunction teams in the early phase of product design in order to simultaneously design the product and the process.

-      Is to achieve a smooth transition from the design stage to actual production in a shorter amount of development time with improved quality results.

4.     Remanufacturing : the concept of using components of old product in the productions of new ones.

Session Summary - Operation Management
edwin_rachmat@staff.gunadarma.ac.id

Journal Review

Pakistan Economic and Social Review

Volume 47, No. 2 (Winter 2009), pp. 199-214

PERFORMANCE EVALUATION IF PASKITANI MUTUAL FUNDS

Talat Afza and Ali Rauf*

INTRODUCTION

            Increasing number of mutual funds in the developed financial markets indicate investor’s preference for this mode of investment (Huhmann, 2005). Over the years mutual fund industry has experienced tremendous growth, whereas, mutual fund is still a recent phenomenon in some of the developing countries. The growth has been robust which in turn has led to the creation of various types of mutual funds.

            Mutual    Funds    were    introduced     in  Pakistan   in   1962,    with   the   public offering of NIT (National Investment Trust). Currently, this is the only open-ended mutual   fund   operating   in   public   sector. The   formation   of   the   ICP  (Investment Corporation of Pakistan) in 1966 offered a series of close-ended mutual funds which was afterwards divided into two lots in June 2000 and was   then   privatized. Management effectiveness has been also evaluated by many studies through examining relationship of fund returns     with    its  selected    attributes. These studies have generally taken attributes like fund size, fund expenses and turnover ratio in order to show their strong influence over open-ended fund returns. Therefore, looking at the potential of the industry and the need of the small investors, it is important to assess the relationship of fund returns with its selected attributes in Pakistan.

LITERATURE REVIEW

A number of researchers have empirically evaluated the relationship of open-ended fund’s performance with its attributes in different time periods for the developed economies  (Soderlind et al., 2000; Korkeamaki and Smythe, 2004). The effect of fund size on its return can be evaluated by measuring the relationship of fund’s net asset with its return. The consistency of management effectiveness has been the focus of interest for many   researchers. The theory of efficient market also suggests that fund managers should not be   able to generate positive fund returns consistently over a period of time. Most of the studies on mutual fund performance conclude that actively managed funds fail to boost returns   sufficiently so as to recover their expenses back. Hence, one of the most evident findings among the previous studies is the negative relationship between fund return and fund expenses.

DATE AND METHODOLGY

The quarterly sample data is collected for all forty-three open-ended mutual funds     listed  on   MUFAP, from the years 1999–2006 with the average number of observations for  each variable being Two hundred and fifty seven.Where, MUFAP is thenofficial website  which gives the direct facility of further web linkages to every mutual fund in Pakistan.

Glenn (2004) has discussed the negative effect of liquidity on open-ended funds as they have to maintain more cash compared to close-ended funds in order to meet the chance of redemption. Therefore, the liquidity is also included as an additional explanatory variable of the estimated model.

Model 1 (Philpot Model)

Return_it  =        α + β₁ (Αssets_it ) + β₂ (Expense_it) + β₃ (Turnover_it)

+ β₇ (12B-1_it) + β₄(Load_it) + β₈ (Return_t-1,i) + ε_it              (1)

Model 2 (Modified Model)

Return_it  =        α + β₁ (Αssets_it ) + β₂ (Expense_it) + β₃ (Turnover_it)

+ β₄(Load_it) + β₅ (Age_it) + β₆ (Liquidity_it)

+ β₇ (12B-1_it) + + β₈ (Return_t-1,i) + ε_it                           (2)        

Where : i, represent the fund; t, represent the timing period

CONCLUSION

            Existing literature has focused on the management effectiveness of Pakistan’s close-ended funds and has concluded the performance of these funds as poor. However, the present study’s primary contribution is in providing conclusive evidence on the important characteristics of open-ended mutual funds.

The 12B-1 fees has a significant positive relationship with the Sharpe ratio in the second model signifying that this has become important due to the addition of other two factors. 12B-1 allows the fund for the payment of distribution fees to selling agents which in   turn helps fund to increase its performance due to growth and possible economies of scale.

TASK 3

Quoted Speech and Reported Speech

      

          A.      Answer the question beginning with “ He or She asked me..”

1.       What time is it ?

~ He asked me what time is was

2.       Did you finish your assignment?

~ He asked me if I had finished my assignment.

3.       Have you seen my sister?

~ She askd me if I had seen her sister.

4.       Is what you said really true?

~ He asked me if what I said was really true.

5.       What do you think will win the champions league?

~ She asked me what I think would win the champions league

          B.      Change the following quoted sentences into reported ones.

1.       Vera said, “You should come to the seminar.”

~ Vera said I should come to the seminar.

2.     “Is what I’ve heard true?” said Shinta.

~ Shinta asked me if what she had heard was true.

3.       Bayu said, “Come to my birthday party.”

~ Bayu said come to his birthday party.

4.       Hilda said, “I need to eat now.”

~ Hilda said she did need to eat then.

5.     “Can you meet me,“ Irfan said, “after class?”

~ Irfan asked me to meet him after class.

E-COMMERCE

                    I.            Pengertian E-Commerce

·           Laudon & Laudon (1998), E-Commerce adalah suatu proses membeli dan menjual produk-produk secara elektronik oleh konsumen dan dari perusahaan ke perusahaan dengan computer sebagai perantara transaksi bisnis.

·           David Baum (1999, pp. 36-34), E-Commerce is a dynamic set of technologies, applications, and bussines process that link enterprises, consumers, and communities through electronics transactions and the electronic exchange of goods, services, and informations. Diterjemahkan oleh Onno. W. Purbo: E-Commerce merupakan satu set dinamis teknologi, aplikasi, dan proses bisnis yang menghubungkan perusahaan, konsumen, dan komunitas tertentu melalui transaksi elektronik dan perdagangan barang, pelavanan, dan informasi yang dilakukan secara elektronik.

·           Kalakota dan Whinston (1997), dapat ditinjau dalam 3 perspektif berikut:

1.      Dari perspektif komunikasi, E-Commerce adalah pengiriman barang, layanan, informasi, atau pembayaran melalui jaringan komputer atau melalui peralatan elektronik lainnya.

2.      Dari perspektif proses bisnis, E-Commerce adalah aplikasi dari teknologi yang menuju otomatisasi dari transaksi bisnis dan aliran kerja.

3.      Dari perspektif layanan, E-Commerce merupakan suatu alat yang memenuhi keinginan perusahaan, konsumen, dan manajemen untuk memangkas biaya layanan (service cost) ketika meningkatkan kualitas barang dan meningkatkan kecepatan layanan pengiriman.

4.      Dari perspektif online, E-Commerce menyediakan kemampuan untuk membeli dan menjual barang ataupun informasi melalui internet dan sarana online lainnya.

                 II.            Ruang Lingkup E-Commerce

1.      Business to Business (B2B) : Sitem komunikasi bisnis online antar pelaku bisnis, transaksi yang dilakukan oleh para trading partners yang sudah saling kenal dengan format data yang telah disepakati bersama.

2.      Business to Consumer (B2C) : Mekanisme toko online (electronic shopping mall), yaitu transaksi antara e-merchant dengan costumer. Bersifat terbuka untuk publik.

3.      Consumer to consumer (C2C) : Menjual suatu produk dan jasa ke satu sama lain / Sitem Lelang.

               III.            Kelebihan E-Commerce        

1.      Hemat Waktu

2.      Hemat Biaya

3.      Hemat Tempat

4.      Hemat Mediasi

5.      Hemat Bahan

              IV.            Permasalahan pada E-Commerce

1.      Financial

2.      Hukum

                 V.            Peluang dan Tantangan E-Commerce di Indonesia

1.      Peluang :

-         Pasar Indonesia yang besar

-         Jenis layanan khas Indonesia

-         Belum semua mengerti new economy

2.      Tantangan :

-         Hancurnya bisnis internet

-         Infrastruktur telekomunikasi terbatas dan mahal

-         Kultur dan kepercayaan

-         Ketidakjelasan hukum

-         Efek samping terhadap kehidupan

http://jurnal-sdm.blogspot.com/2009/08/e-commerse-definisi-jenis-tujuan.html

Buku Panduan Belajar E-Commerce, STMIK Triguna Dharma, BAB II.

Materi perkuliahan Pengantar Teknologi (SIA), 27 Maret 2013. Oleh, Abednego Pratama.

COMMAND AND REQUEST

Make a command ...

1.    You must help your mom

-      Help your mom !

2.   You shouldn’t do that

-      Don’ do that !

3.   We had better study together

-      Let’s study together !

4.   You mustn’t be arrogant

-      Don’t be arrogant !

5.   You ought to be polite

-      You should be more polite

6.   We don’t have to be here

-      Let’s go out of here !

7.   You have to obey your father even when he seems to strict

-      Be adhere to your father !

8.   We should take care of our earth

-      Let’s take care of earth !

9.   You shouldn’tbe like that

-      Don’t be like that !

10. You must make your parents proud of you

-      Be a good person

Make a request for the given ...

Situation :

1.    You must to ask your tutor a question

2.   You are at your friend’s house. You want to use the phone.

3.   You are at the restaurant. You’ve finished the meal. You ask a waiter for the bill.

4.   You knock on your tutor’s half open the door. He’s sitting at his desk. You want to get in.

5.   You want to see Agung’s dictionary

6.   You are in class. You are hot. You are talking to your friend.

Request..

1.    May I ask a question ?

2.   Can I use your phone ?

3.   Can you give me a bill right now ?

4.   Could I come in the class, Sir ?

5.   Would you lend me your dictionary ?

6.   Can you turn on the AC ?