Production and Operations Management

Unit 2

Unit 2

Operations Management

Structure: 2.1 Introduction Objectives 2.2 Operations Management and Strategy Strategic management process Strategic decision making Differentiation strategies 2.3 Tools for Implementation of Operations Implementation of operations Tools for implementation 2.4 Industry Best Practices Pragmatic benchmarking 2.5 Summary 2.6 Glossary 2.7 Terminal Questions 2.8 Answers 2.9 Case Study

2.1 Introduction
In the previous unit, we dealt with integrated production management, system productivity, capital productivity, labour productivity, personnel productivity, and training. In this unit, we will deal with operations strategy, tools for implementation of operations, and industry best practices. Operation management is the systematic design, direction, and control of the processes that transform inputs into services and products for the customers. It goes from one side with suppliers and ends with customers. It covers the entire value chain. It encompasses all management activities using resources such as: Plants The factory and the location where all the activities take place. It includes machinery and heavy equipments People Direct or indirect workforce Parts The components, sub-assemblies, or even products

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Processes Methodologies, technology, tooling, and fixtures for establishing, maintaining, and improving productivity Planning and control This is an information management system which initiates, directs, monitors, and collects feedback to enable efficient use of all the other resources

Optimisation of operations is vital to enable the firm to be competitive. Manufacturing systems have to be established to enable the organisation to be competitive. To achieve excellence, the processes are benchmarked with industry best practices and international certification is sought. In this unit, you will learn the strategies and tools used by the companies to balance these factors. Objectives: After studying this unit, you should be able to: describe operations management explain the scope of operations management outline the different strategies used in operations management to make better decisions during implementation recall the tools used for the implementation of operations management recognise the industries best practices to take the road to excellence

2.2 Operations Management and Strategy

Operations management is one of the major functions of any business organisation. Marketing discovers the destination for the product or service that is produced. Operations provide the deliverables by utilising the resources and producing the same. All equipments, facilities, technology, information, human resources, and finance should be tuned to make operations most efficient to derive the maximum advantage and be competitive. Operations function should, therefore, be guided by strategies which are consistent with the organisation strategy. For example, Intel Corporation, USA, has superior computer chip design. This is because of its technological expertise in producing microchip. Walmart emphasises on everyday low prices and thus focuses on inexpensive outsourcing for products.

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Competitiveness is at the core of all strategies. Even among them, priorities tend to bring the organisations focus on the areas to be dealt with in terms of allocation of resources people, money, and time. This means that different functional areas with their own capabilities and constraints have to be integrated for the overall corporate strategy. Flexible strategies and an adaptive production process help to achieve high productivity and also to satisfy the needs of customers, thereby improving the deliverables. Innovation should occur at all stages. For example, one-hour paper printing and one-hour screen printing services on the cover and same-day flex printing and binding services. Corporate strategy, functional area strategies, market analysis, competitive priorities, competitive capabilities, and new service/product design are the main operations strategies in any organisation. Operations strategy is formulated to leverage the advantages, absorb the consequences of the variable nature of various functions, and provide a dependable implementation programme. Effective and timely communication is a vital factor to involve and coordinate people at various stages and monitor the progress. Figure 2.1 depicts the links between the factors of operations management. Formulation of a strategy depends on the following: Assessment of strengths Understanding of the weaknesses Nature of external environment Resilience of the internal environment

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Fig. 2.1: Links between the Factors of Operations Management

The policies derived from the operations strategy should be amenable to go along with the other functions. Organisation strategy should be such that the strategies of different functions are designed to lend support to one another. Culture of the organisation should be established and nurtured in such a way that conflicts are resolved with the overall organisation strategy in view.

Operations Management, Krajewski and Ritzman Prentice Hall India (7th Edition, 2004)

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Operations strategy takes under its umbrella the quality, time, and flexibility. Figure 2.2 depicts the phases of operations strategy.

Fig. 2.2: Phases of Operations Strategy

Quality Quality is the driving factor for any organisation. When buying a product, a customer will always think about the value of the money he or she is investing. Even if the price of the product is high, the quality of the product will provoke the customer to buy it. Typical examples of companies focusing on quality are Amway, Coco-Cola, Pepsi, Tupperware, Sony, BMW, etc. Many Indian companies coming under Tata group and automotive products manufacturers like Maruti Suzuki, Rane (Madras) have won awards for providing high quality products. Quality also includes cost competitiveness by various methods like JustIn-Time (JIT), lean manufacturing, TQM, and TPM. Quality enables the firm to be competitive, but more importantly, helps the company to remain stable. Time Time aspect considers that deliveries are made on time to meet the customers expectations. Time taken to develop and market new products is becoming very critical in the global environment. To seek more business, organisations should reduce the time taken for each factor during operations. The organisations mainly focus on reducing the time for the elements. Time is also interpreted as speed of response to any call from the customer, be it for post-sales service or new product development or maintenance. Figure 2.3 depicts the factors to be reduced during operations.

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Fig. 2.3: Factors to be Reduced during Operations

Flexibility Flexibility enables a firm to meet the changing demands of the customers in order to develop new processes and materials and to make the organisation more agile in its manufacture. For example, Photon, Inc, a European computer component manufacturer, produces components which are not fixed to particular configurations. This enables production lines to be reconfigured within hours or days to make new and different products. This flexibility has allowed Photon to expand from manufacturing a few products for a single customer to making hundreds of products for over 50 different companies. Flexibility can be under different categories like operational flexibility, storage flexibility, transportation flexibility, and material flexibility. Remember Operations strategy takes under its umbrella the quality of the product or service, time taken to deliver the product, and flexibility to meet the changing demands of the customers.

2.2.1 Strategic management process Strategy formulation and development has been historically analysed and debated in different fields of study. While strategy formulation is largely influenced by the situational forces, the core practices like value addition,
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customer focus, total quality, and concern for environment will always be followed. A business strategy is the result of a decision taken at the highest level. This outlines how the resources are deployed to achieve the goals in an environment. A general framework to guide and activate the think-tanks in the organisation is to come up with proposals. Action plans with time frames, authority hierarchies, and feed-back mechanisms are formulated and designed. At this stage, detailed scenarios as to the likely consequences are considered and contingency plans are worked out for implementation, if situations call for the same. Being in readiness with alternatives is a good way of assuring the success of any plan. For example, the production of a model of motor cycle is to be increased by 25% and the price is to be reduced by 10%. This decision would have been taken as a strategy to meet the increasing demands which are real in order to fulfil the following: Enter a niche market of the competitor Augment marketing departments claim after a vigorous sales campaign Any other reason The strategy for the marketing function would be many like promising freebies, making the commission attractive for the dealer, or opening more service outlets. The objective of an operations strategy is to achieve the long-term goals established by the business strategy. The operations strategy would consider the following constraints: Subcontracting or including additional machinery Improving productivity using different methods Revamping assembly lines Motivating the employees Promoting existing employees or hiring new ones Identifying and developing new suppliers Looking for opportunities to reduce costs as scaling up provides scope The above measures will be under consideration at all times. When a change is considered, identification of areas of cooperation and collaboration becomes easy. Opportunities arise for understanding and resolution of problems. Setting up visible targets to meet the deadlines encourages application of constancy of purpose as per Deming. This in itself would be a strategy for improving quality and productivity. In addition, it
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is relevant to note the current trends and changes and switch over to appropriate actions. 2.2.2 Strategic decision making Decision making is the most crucial management function. Decisions commit the organisation and its members to activities which have financial repercussions and affect the functioning of other departments or divisions. Therefore, decisions are taken after lots of deliberations which involve steps like data gathering, analysis, and predicting outcomes. Figure 2.4 depicts planning and decision making. Accuracy of data and their relevance for the matter under consideration are the factors which affect the quality of decisions. In addition, the following factors also form the basis of decision making:

Fig. 2.4: Planning and Decision Making

Environmental scanning The business environment of any organisation includes the industry, marketplace, governmental agencies, society, ecology, technology, and others. Organisations should be aware of the business environment in which the firm exists, and have to compete continually by exhibiting potential for opportunities and threats. Being aware of those, and their impact on the firm by a process of analysis, is called environmental scanning. Let us now consider the potential exhibited by business environment: o Competitors may be gaining an edge by diversification, making forays into the firms niche market by making new and better products
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o o

Suppliers could be forming cartels and preparing to drive hard bargains Government could be passing laws and issuing orders which could affect the supply of materials or restrictions on import and export or even employment conditions

Adaptation to these dynamic factors by environment scanning and basic strategic decisions is vital. Typically it used to be SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis. Now there is also PESTLE analysis which stands for analysis of Political, Environmental, Social, Technological, Legal and Economic environments. These analyses help in shaping the operations strategies. Core competencies Each organisation is started by an entrepreneur or a small group of entrepreneurs. The objective is to use their unique strengths to create and develop an organisation. These unique strengths are the core-competencies of the organisation. For example, IKEA, the Swedish furniture maker has the core competency in design. IBMs core competency lies in research. Apple is known for innovation. Reliance groups core competency is handling mega projects. However, many-atime, it becomes necessary to augment the existing business with some additional strengths or competencies. Such developments and improvements in core competencies provide an edge over the competitors who would have to grapple with these competencies. These build ups are usually through collaborations and acquisitions or joint ventures. Core processes of an organisation are determined by the core competencies. Four main core processes are mentioned below. Figure 2.5 depicts the core competency process. o Customer relationship o New product/service development o Supplier relationship o Order fulfilment The emphasis on these processes depends on: o The type of industry o The length of its existence
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o o o

The consequent strengths built up in certain areas The way earlier successes have been achieved The reinforcement they have given to the organisation

One should remember that the environment is always dynamic and the strategy formulation needs to be constantly updated for making effective implementation. Ultimately, every organisation depends on the core competencies which give it an advantage over the competitors.

Fig. 2.5: Core Competency Processes

2.2.3 Differentiation strategies Differentiation is a process by which a company distinguishes itself from its competitors and their offerings. The process includes adding a set of differentiators, which are meaningful, and adds value for the customer. The differences should be perceived by the customer as important, distinctive, superior, and affordable. Further, the differentiators have to make the companys offerings (the products and services) profitable. To derive a competitive advantage, the study of the processes is important. Here, we are not considering the situation of an entirely new product but those which are already contributing to the company revenues. Companies have different potential in terms of manoeuvrability along with target market, place (channels), promotion, and price. These are affected by the companys position in the market, and the industry structure. According to Miland Lele, (Miland M.Lele, Creating Strategic Leverage: New York, John Wiley 1992)

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Boston Consulting Group (BCG) has classified four types of industries and the approaches available. Figure 2.6 depicts the classification of industries according to BCG.

Fig. 2.6: BCGs Classification

Another useful framework to identify the product portfolio is the BCG matrix that classifies the product offerings along a two dimensional matrix in terms of growth and market share. This analysis enables a company to prioritise its product mix to ensure growth and revenue. (Source: QuickMBA.com) Size of advantage vs. number of approaches to achieve advantage When the volume of the industry is large, the advantage for a firm is high, but the number of approaches is small. On the other hand, if it is fragmented, the size of the advantage is small, and the approaches are many. The options available and the quantum of advantage are the considerations for any strategy. For products differentiation, we consider form, features, and the quality of performance. By form, we mean the shapes, dimensions, and aesthetics which determine the physical aspects of the product. The components and parts that are integral to the product may not be visible but will have suitable and easy forms for assembly, identification, extraction, insertion, and inspection. This is necessary for making a product serviceable and repairable to meet the customers needs. The dimensions are optimised for safe use, safety, and durability.

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Aesthetics is the ultimate differentiator to attract the customer and make him comfortable using it. Features contribute for differentiation to a large extent. It addresses the requirements of the customer in such a way as to make the products meet them in a way that the competitors do not. Again, performance is looked at from the point of view of reliability, durability, and reparability. Any organisation in the manufacturing or the service sector has to develop a strategy and ensure sustainability through competitive environment. Strategy is not static but varies with time and changes in environment. Particularly when changes are occurring rapidly, strategy needs to be frequently revised and modified. This further demands innovative abilities and persistence. Self Assessment Questions 1. ____________ is the systematic design, direction, and control of the processes that transform inputs into services and products for the customers. 2. A business strategy is the result of a decision taken at the highest level which outlines how the resources are deployed to achieve the goals. (True / False)

2.3 Tools for Implementation of Operations

All functions in the organisation including administration, finance, materials, purchase, marketing, production, logistics, communication, and others can be considered as operations. The reason is that all of them use some inputs like materials or information either on a person-to-person basis or through a flow line. They are required to use some process and convert them into outputs usable in the next stage of the value chain. For example, when an invoice is received for payment, it contains information about the following: Material or a service Person who needed the invoice Price to be paid Supplier Transportation Insurance Quantity
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Tax to be paid Others

The bills payable section will have to verify the data regarding the above and seek the inspection reports from the quality control department/user. Before the actual payment is made, verifications such as the terms of payment and availability of funds are done. Verification will help you to notice the following: Information is sought or given Materials received and transferred Papers/instructions are received/issued for initiating activities All these are also operations. However, for our study, we will limit our focus to operations involving manufacturing. We identify a set of specialised techniques. We call them tools which can be standardised for ease of implementation and control. In the recent times, operations are considered from end to end of value chain which means the operations that start from sourcing of materials and other inputs to successful delivery of products to customers or end users. 2.3.1 Implementation of operations Implementation is the process of executing the planned operations. When planning and controlling functions are put together, we call it as Implementation of Operations. The planning is the process of estimating, routing, and scheduling. The controlling functions are conducted while the manufacturing is going on, like dispatching and expediting. Figure 2.7 depicts the implementation of operations.

Fig. 2.7: Implementation of Operations Sikkim Manipal University Page No. 36

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Estimating Estimating gives the quantities to be made at each workstation depending on the sales forecast, provision for buffer stock, quantities bought out, services outsourced, likely shortfalls, and others. It is made on the basis of capacity. Routing Routing determines the sequence of operations and the machines that do them, so that work flow, as determined by the processes, is smooth resulting in minimum inventory. Scheduling Scheduling is mainly concerned with allocating time slots for different jobs. It specifies as to when the jobs start and end at particular workstations. The purpose is to prevent the imbalances among work centres and to utilise the labour hours in such a way that established lead times are maintained. Dispatching Dispatching is concerned with moving of the materials with tools, jigs, and fixtures to specific machines along with the drawings and ensuring inspections at specific nodes, so that the materials move in the supply chain. Expediting Expediting ensures that all the above are being done properly. Reports are generated and any bottleneck that gets created is removed.

2.3.2 Tools for implementation Gantt charts developed by Henry Gantt long back for the purpose of visualising the work assignments and sequence and timings are used to record progress comparing the actual against the planned activities and to keep track of the flow of the material. In its simplest form, a Gantt chart consists of horizontal bar graphs on time scales. Line balancing and line of balance are two more tools to ensure that machining centres are loaded as uniformly as possible to prevent build up stocks at intermediate stages. Simulation models are used to predict utilisation of machines and production levels. Various inventory models help us to determine when to order and how many to order. It also gives us an insight to the risks and opportunities that come up for our consideration. Proper maintenance and analysis of records help us to see the gaps that have crept into the operations system. Checking across functions will make the tools being used to be modified realistically and increase efficiency. ERP
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software, especially SAP, have many modules that store, sort, and analyse data and make them available to the staff across the globe in many plants, enabling managers to streamline their operations. Software specific to functions, applications, or organisation can be obtained. Microsoft Operations Manager 2005 is a useful tool in this regard. Figure 2.8 depicts Microsoft Operations Manager 2005.

Fig. 2.8: Microsoft Operations Manager 2005

Case-let 1 MakTel is a national telecom provider. The customer utilisation of ISDN was less; therefore, the company faced poor sales of ISDN services for several years. Also, the quality of service delivery was low. The company applied Pareto analysis to extract the reasons for the failures in service delivery. The analysis showed that the problem is poor quality of network terminals and unqualified technicians for provisioning of the ISDN service. MAkTel rectified the problems and energised the company sales. Case-let 2 In the recent times, technology is intensively used to track the processes that are part of the value chain. Radio Frequency Identification (RFID) helps in tracking and monitoring the flow of goods as they travel through the entire line. Gillete company uses RFID exclusively for razor blade movement in cases and pallets from manufacturing centres to customers place through distribution centres. The company claims an operational savings of more than 20%. As stated in infoworld.com, dated 15-08-2005, Gillette, RFID has improved order processing, streamlined inventory management systems, and increased shipment accuracy, according to Dick Cantwell, the company's vice president of global value chain.
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Self Assessment Questions 3. ______ is mainly concerned with allocating time slots for different jobs. 4. ___________ is a process by which a company distinguishes itself from its competitors and their offerings. 5. _________ determines the sequence of operations and the machines that do them, so that work flow is smooth. 6. __________ is used for the purpose of visualising the work assignments and to know the progress of work by comparing the actual against the planned activities 7. Dispatching is concerned with moving of the materials with tools, jigs, and fixtures to specific machines along with the drawings. (True / False)

2.4 Industry Best Practices

Each industry would have progressed over the years or decades improving their processes and products. During this development, the materials would have changed and processes would have changed. As all products or services are meant to serve the needs of the customers, they undergo continuous changes both in configuration and features. Materials and methods go on improving incessantly because of the research that is conducted. The companies that were at the front innovate to stay in business as new entrants would be adopting the latest techniques that the pioneers had taken decades to establish. Various firms in any industry would end up adopting almost similar methods of getting an output as required, but only a few among them would reach great heights because of different practices that lead to superb performance. Such practices would get refined to a great extent giving rise to what we call industry best practices. These tend to get stabilised or changed owing to the development of new equipments which are designed. A very commonly quoted example is the Toyota Production System (TPS) adopted by various companies world over in the pursuit of excellence. A manufacturer, with an eye on growing markets, demands higher quality and reduced prices. Industry best practices open up the field for benchmarking by companies which need to improve their performance.

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2.4.1 Pragmatic benchmarking Pragmatic benchmarking is a method of measuring a companys processes, methods, and procedures in a way that all functions in great detail. Benchmarking, in its simplest form, is understood as a process of comparison with a superior performer anywhere in the world to improve quality and is used to understand how these practices can be brought into the system and what circumstances brought them about. It is a learning process with a view to find out whether some of the reasons have changed and to bring in new processes for improvement. The metrics that could be used are the: Number of pieces per hour Cost per unit Number of breakdowns per week Customer alienation during a week Return on investment Number of returns from customers in a month Inventory turnover Many others The figures obtained from the above determine the efficiency of the organisation. To keep focused, many organisations, especially the large ones, select a few processes for purposes of benchmarking. This helps in ensuring constant and deep attention to those aspects which are to be dealt with. The following are the types of benchmarking considered by various firms: Process benchmarking business process Financial benchmarking Performance benchmarking Product benchmarking Strategic benchmarking Functional benchmarking Benchmarking is usually classified into two groups namely internal and external benchmarking. Internal benchmarking refers to comparison within the organisation or industry and external benchmarking refers to comparison with outsiders. Any measurable parameter or entity can be benchmarked.
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Steps in benchmarking Planning, analysis, integration, and action are the four steps recognised in the process of benchmarking. The select criteria are compared with the performance parameters of the company which is considered the best in the industry. Targets are set and activities are conducted to reach them. Let us discuss in detail about the steps which are necessary for conducting a benchmarking operation. Planning Planning determines the process, service, or the product to be benchmarked on which metrics are assigned for collection of data. Analysis Analysed data gives inputs for comparison with the target companys performance on the parameter benchmark on which data was collected. Measuring gaps helps in identifying the process which should be improved for reaching the benchmark. Integration Resources are required across all functions to achieve the target needs. Integration involves putting together resources like people, equipments, and communication, so that, progress is unhindered and all activities reach their logical conclusions without loss of initiative or time. Action When changes are needed, actions have to be planned according to the steps earlier stated. The teams are provided with necessary leadership, authority, and supporting facilities to enable them to complete all activities within the time frame set for the purpose. Since benchmarking is done in specific areas, it is necessary to maintain the focus and implement actions without losing initiative, so that, results become demonstrable.

It is necessary to set achievable targets keeping in view the availability of resources, technology, and to spread awareness about the importance of what is attempted and how success improves the image of the company. This approach is recommended by the Total Quality Management (TQM) guru Edwards Deming. This approach can be called pragmatic because building up knowledgebased analysis of data and achieving the targets set the tone of continuous improvement and move the organisation towards excellence which was the reason we started benchmarking. Many times, benchmarking is done internally. When an enterprise has a number of plants and some of them adopt similar processes, it is likely that one group may have developed
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techniques and methodologies of doing them better than others. Internal benchmarking is resorted to as a measure of identifying the strengths in the organisation. By internal benchmarking, knowledge, and skills are shared and complemented taking the organisation to a leadership position. The most important point for the successful adoption of benchmarking is a willingness to learn from someone better and the ability to translate such learning into improvement initiatives. Remember Pragmatic benchmarking is a method of measuring a companys processes, methods, and procedures in a way that all functions in great detail. Self Assessment Questions 8. ___________ is resorted to as a measure of identifying the strengths in the organisation. 9. Pragmatic benchmarking is a method of measuring a companys processes, methods, and procedures in a way that all functions in great detail. (True / False)

2.5 Summary
Let us recapitulate the important concepts discussed in this unit: Operation management is the systematic design, direction, and control of the processes that transform inputs into services and products for the customers. Optimisation of operations is vital to enable the firm to be competitive. Operations function should be guided by strategies which are consistent with the organisation strategy. Strategy is very important for the operations because it guides the managers in implementing policies which have long-term implications for productivity, quality, and customer satisfaction. It is imperative that we measure up to the best in the industry by benchmarking and being competitive.

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2.6 Glossary
Strategy: plan for achieving the goals and objectives in best possible way Environmental scanning: monitoring of organisations internal and external environment for detecting opportunities and threats Core competencies: unique ability that the organisation acquires that cannot be easily imitated

2.7 Terminal Questions

1. What is operations management? 2. What do you mean by operations strategy? Explain in brief. 3. Explain the importance of decision making in organisation. What are the factors affecting decision making? 4. What is meant by differentiation? Explain. 5. Write a brief note on implementation of operations. 6. What do you understand by industry best practice?

2.8 Answers
Self Assessment Questions 1. 2. 3. 4. 5. 6. 7. 8. 9. Operation management True Scheduling Differentiation Routing Gantt charts True Internal benchmarking True

Terminal Questions 1. Refer 2.1 and 2.2 2. Refer 2.2 and 2.2.1 3. Refer 2.2.2
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4. Refer 2.2.3 5. Refer 2.3 and 2.3.1 6. Refer 2.4

2.9 Case Study

Competition Strategies From Collaboration to Acquisition The Indian tractor market has seen tremendous growth during the last two decades and currently the battle for supremacy in the market is between two companies, John Deere and Mahindra and Mahindra. The manufacturing of tractors started in India in the post-independence era in 1960s. For a long time, Punjab Tractors was the leading manufacturer and their brand Swaraj was very popular in the northern part of India. Down south, Tractors and Farm Equipment (TAFE) happen to be the leading manufacturer of tractors. Mahindra and Mahindra stood at number three. In the year 2001, Mahindra and Mahindra decided to improve their position and become the market leader. The company benchmarked its productivity and financials against the best in the class namely Punjab Tractors Limited which used to take money in advance and deliver the tractors later. However, Punjab Tractors market share slumped from 18.6% in 1999-2000 to 8.1% in 2006-2007. At that time, Mahindra and Mahindra decided to go after the company and acquired Punjab Tractors. After about three years, the turnaround happened and the company was able to post healthy figures. According to Pawan Goenka (President, Automotive and Farm Sector, M & M), Punjab Tractors had done better than expected. The target of doubling the turnover and tripling the profit has been achieved and the merger has proved highly beneficial to Mahindra and Mahindra. The strategy of acquiring and merging Punjab Tractors has proved to be successful to Mahindra and Mahindra. They also used the customer feedback effectively in improving the tractor design and looks. Mahindra Tractors is now the world's largest tractor company by volume. For over two decades, the company has been the leader in the Indian tractor market, which is also the largest tractor market in the world.
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However the competitors are not quietly watching. The second biggest tractor manufacturer, TAFE group, had a decent growth of 17%, led by its most famous brand Massey Ferguson (also the name of its partner). This brand enjoys very good brand equity among tractor buyers. TAFEs acquisition of Eichers Tractor Division (way back in 2005) has also helped it to grow both in terms of volumes and technology.
(Sources: http://www.researchandmarkets.com/reports/607322/tractor_market_in_india_ an_analysis http://www.mahindratractorworld.com/ Bhandar, Bhupesh (2010), Collaborative Competition, The Strategist, Business Standard, 27 December 2010.)

Discussion Questions: 1. What are the objectives that Mahindra and Mahindra had in mind when they noticed their position in the tractors market? 2. What strategies are followed by Mahindra and Mahindra in reaping success in the tractors market? 3. What other strategies might have been followed by Mahindra and Mahindra to accomplish their objectives? 4. Is merger and acquisition a good strategy? Under what circumstances? Discuss with relevance to operations management. Reference: Krajewski and Ritzman, (2004) Operations Management, 7th Edition, Prentice Hall India. Operations Management, Krajewski and Ritzman Prentice Hall India (7th Edition, 2004) Miland M.Lele, Creating Strategic Leverage: New York, John Wiley 1992)

E-Reference: QuickMBA.com

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