Driving Operational Performance from Coursera

Elevate your operational management skills with our Driving Operational Performance course, building upon the foundations laid in the Introduction to Operations Management. Led by the renowned Dr. Terwiesch, this course provides an in-depth exploration of advanced operational concepts, equipping you with the tools to analyze and optimize complex processes. You will gain practical insights into enhancing operational efficiency through hands-on problem-solving and engaging video lectures.

In this course, you'll delve into the intricacies of process analysis, learning to identify bottlenecks within intricate systems and understanding how variability impacts operational performance. You'll explore the relationship between customization and setup times, enabling you to fine-tune processes for maximum efficiency. Capacity planning will be demystified as you discover how product mix affects capacity calculations and the importance of implied utilization. Additionally, you'll develop the ability to bridge finance and operations, using the Return on Invested Capital (ROIC) framework to connect financial and operational variables.

Our course structure is designed for your success, combining engaging video lectures, hands-on practice problems, and interactive discussions. You'll have the flexibility to pause videos, work on problems, and witness Dr. Terwiesch's problem-solving approach, ensuring a thorough grasp of the material.

Join us in pursuing operational excellence and acquiring the advanced skills necessary to drive success within your organization. Enhance your ability to analyze and optimize complex processes, link operations with finance, and improve customer experiences. With a focus on practicality and real-world applications, this course empowers you to become a more effective operational manager. Enroll today to take your career to the next level and make a lasting impact on your organization's performance.

Real-world examples from industry leaders will illustrate key concepts throughout the course. Please note that these case studies are for educational purposes and do not imply endorsements of the mentioned businesses. To fully benefit from this course, it's recommended to complete the Introduction to Operations Management course beforehand.

What's inside

Syllabus

Introduction to Process Analysis with Multiple Flow Units

In this module, we delve into the intricacies of advanced process flows, explicitly focusing on handling variety, setup times, and attrition (yield) losses. Building upon your foundational knowledge, we'll explore the critical implications that variety introduces into process analysis. Key insights will be gained, particularly in the context of product mix, as we guide you in searching for bottlenecks more effectively. Additionally, you'll discover the concept of implied utilization and how it can be a valuable tool in optimizing processes.

The Power of KPI and ROIC Trees

Throughout this module, you'll explore practical techniques that empower you to harmonize financial and operational aspects. One of the central elements of this module is the exploration of Return on Invested Capital (ROIC) and Key Performance Indicator (KPI) trees. You'll gain insights into how to construct these trees in a manner specific to the operations you are studying. Furthermore, we emphasize the importance of ensuring that the variables within these trees are measurable, requiring accessible data for practical analysis. Sensitivity analysis will be a vital tool in your toolkit, allowing you to assess the potential influence of various operational factors on your financial outcomes.

Managing Wait Time

In this lesson, we delve into the ubiquitous aspect of waiting and explore the science behind studying waiting times. Waiting is an undeniable part of our daily routines, and understanding it is crucial. We'll start by delving into the concept of a transient queue, offering you valuable insights into this essential aspect of queue theory. Our journey continues as we investigate strategies to make the waiting experience less painful for customers and more efficient for businesses. Variability, a significant factor in process flow, takes center stage in this module. We'll guide you in distinguishing between seasonality and variability, empowering you to plan effectively for the complexities that variability introduces. Capacity management plays a pivotal role in managing waiting times, and you'll gain practical knowledge on balancing customer satisfaction and resource efficiency. We'll explore methods for aggregating variability by sharing the risk across multiple resources, assigning priority levels, and influencing the perception of waiting time, all of which contribute to a smoother customer experience. Lastly, we'll delve into the Time in Queue formula, emphasizing its critical importance in waiting time management. By the end of this lesson, you'll understand the factors influencing waiting times and the tools to manage them effectively.

Predicting and Reducing Loss 

In this lesson, we dive into the central theme of computing customer loss, emphasizing the imperative concept of "buffer or suffer." Understanding and quantifying the loss of customers is the linchpin of this module, as it plays a pivotal role in operational decision-making. We begin by equipping you with the essential skills to find the probability of customer loss. You'll gain insights into the factors and variables contributing to this probability, enabling you to make informed decisions to minimize customer attrition. Chaining, a strategic approach that combines the advantages of pooling with a lower investment, will be explored in-depth. You'll discover how to harness the benefits of this method to enhance operational efficiency and mitigate potential losses. Furthermore, this lesson will empower you to calculate the buffer required to effectively manage the challenges introduced by variability. Buffer strategies are vital in maintaining operational stability and ensuring a seamless customer experience, making this lesson an essential component of your operational toolkit.

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Covers complex operational concepts, suitable for learners with a solid foundation in operations management

Led by Dr. Christian Terwiesch, a well-known professor in operations management

Provides hands-on problem-solving and interactive video lectures for better understanding

Teaches practical techniques to improve process efficiency and link operations with finance

Examines real-world examples from industry leaders to illustrate key concepts

Requires prior completion of Introduction to Operations Management course for full benefit

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Driving Operational Performance with these activities:

Gather Resources on Advanced Operations Management Techniques

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Build a personalized resource collection to deepen understanding of advanced operations management topics.

Browse courses on Operations Management

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Search for articles, white papers, and case studies on specific areas of interest.

Read 'Operations Management for Competitive Advantage' by Krajewski and Ritzman

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Provide a comprehensive overview of operations management principles and best practices.

View Operations Management: Process and Value Chains... on Amazon

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Read the assigned chapters and take notes on key concepts.
Complete the end-of-chapter exercises to reinforce your understanding.

Join a Study Group or Participate in Online Discussions

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Engage with peers to discuss course material, share perspectives, and enhance comprehension.

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Find or create a study group with classmates.
Regularly meet to discuss course topics, solve problems, and quiz each other.
Participate actively in online discussion forums to connect with other students and instructors.

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Solve Process Analysis Problems

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Enhance problem-solving skills in analyzing and optimizing processes.

Browse courses on Process Analysis

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Practice identifying bottlenecks and inefficiencies in process flows.
Calculate process metrics such as cycle time, throughput, and utilization.

Develop a KPI and ROIC Tree for a Given Scenario

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Reinforce understanding of linking financial and operational variables through practical application.

Browse courses on Performance Measurement

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Identify key performance indicators (KPIs) relevant to a specific scenario.
Construct a KPI tree to show the hierarchical relationship between KPIs.

Explore Case Studies on Waiting Time Management

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Gain insights into real-world applications of waiting time analysis.

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Find case studies or articles on waiting time management in various industries.
Analyze the strategies used to minimize waiting times and improve customer satisfaction.

Design a Buffer Strategy for a Given Process

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Apply buffer strategy concepts to mitigate variability and improve process stability.

Browse courses on Process Management

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Analyze the variability in a given process.
Calculate the required buffer size to achieve a desired service level.

Career center

Learners who complete Driving Operational Performance will develop knowledge and skills that may be useful to these careers:

Quality Manager

Quality Managers are responsible for developing and implementing quality assurance programs within an organization. They work to ensure that products and services meet or exceed customer standards. The Driving Operational Performance course will provide learners with a strong foundation in the key principles of quality management. Through its focus on process analysis, KPI development, and capacity planning, this course may be specifically helpful to those wishing to enter the field of quality management.

See salaries and explore the career path for Quality Manager

Operations Analyst

Operations Analysts work to improve the performance and efficiency of business operations. Through the implementation of process improvements and data analysis, they help organizations identify and solve problems. The Driving Operational Performance course will provide analysts with a strong foundation in the tools and techniques used by successful operations analysts. Through its focus on process analysis, KPI development, and capacity planning, this course may be specifically helpful to those wishing to enter the field of Operations Analysis.

See salaries and explore the career path for Operations Analyst

Manufacturing Engineer

Manufacturing Engineers develop, implement, and maintain processes for the production of goods. They work to improve productivity, quality, and efficiency within manufacturing organizations. The Driving Operational Performance course will provide learners with a strong foundation in the key principles of manufacturing engineering. Through its focus on process analysis, capacity planning, and KPI development, this course may be specifically helpful to those wishing to enter the field of manufacturing engineering.

See salaries and explore the career path for Manufacturing Engineer

Industrial Engineer

Industrial Engineers are responsible for the design, improvement, and installation of integrated systems of people, materials, and equipment. They work to increase efficiency and productivity within organizations. The Driving Operational Performance course will provide learners with a strong foundation in the key principles of industrial engineering. Through its focus on process analysis, capacity planning, and KPI development, this course may be specifically helpful to those wishing to enter the field of operations analysis.

See salaries and explore the career path for Industrial Engineer

Consultant

Consultants provide advice and expertise to businesses and organizations on a variety of topics, including operations management. They work with clients to identify and solve problems, improve efficiency, and achieve goals. The Driving Operational Performance course will provide learners with a strong foundation in the key principles of consulting. Through its focus on process analysis, KPI development, and capacity planning, this course may aid learners in developing the analytical skills necessary for a Consultant in management consulting or other related fields.

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Process Engineer

Through the application of engineering principles, Process Engineers work to design, optimize, and control processes to improve efficiency and quality. They work closely with other engineers and departments to develop and implement new processes. The Driving Operational Performance course will provide learners with a strong understanding of the operational performance principles necessary for a Process Engineer. Through a focus on process analysis, capacity planning, and KPI development, this course may aid learners in developing the analytical skills necessary for a Process Engineer.

See salaries and explore the career path for Process Engineer

Lean Six Sigma Professional

Lean Six Sigma Professionals are responsible for improving the efficiency and quality of processes within an organization. This is achieved by identifying and eliminating waste, ultimately leading to increased productivity. The Driving Operational Performance course will provide learners with a strong understanding of the foundational principles of Lean Six Sigma. By developing an understanding for process analysis, KPI development, and capacity planning, this course may aid learners in developing the analytical skills necessary for a Lean Six Sigma Professional.

See salaries and explore the career path for Lean Six Sigma Professional

Data Analyst

Data Analysts collect, analyze, and interpret data to provide insights that can help organizations make better decisions. They work with data from a variety of sources to identify trends, patterns, and relationships. The Driving Operational Performance course will provide learners with a strong foundation in the principles of data analysis. Through a focus on process analysis, KPI development, and capacity planning, this course may aid learners in developing the analytical skills necessary for a Data Analyst.

See salaries and explore the career path for Data Analyst

Financial Analyst

Financial Analysts analyze financial data to make recommendations on investments and other financial decisions. They work with data from a variety of sources to identify trends, patterns, and relationships. The Driving Operational Performance course will provide learners with a strong foundation in the principles of financial analysis. Through a focus on process analysis, KPI development, and capacity planning, this course may aid learners in developing the analytical skills necessary for a Financial Analyst.

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Operations Manager

Within an organization, an Operations Manager is responsible for the oversight of daily operations to ensure that all aspects of a company run as effectively and efficiently as possible. These individuals work closely with multiple departments, leveraging their strong leadership and managerial skills. They create and implement strategy that optimizes business operations, productivity, and profitability. The Driving Operational Performance course will help build a foundation in the specific skills and knowledge necessary to succeed in this role. With its focus on process analysis, KPI analysis, and capacity planning, this course will help prepare learners for the analytical challenges of Operations Management. Upon completing this course, learners may find themselves well-prepared to take on an Operations Manager role and contribute to the success of an organization.

See salaries and explore the career path for Operations Manager

Continuous Improvement Manager

Continuous Improvement Managers are responsible for developing and implementing performance improvement programs within an organization. They work closely with other departments to identify and eliminate waste, ultimately leading to increased productivity. The Driving Operational Performance course will provide learners with a strong understanding of the foundational principles of continuous improvement. By developing an understanding for process analysis, KPI development, and capacity planning, this course may aid learners in developing the analytical skills necessary for a Continuous Improvement Manager.

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Business Analyst

Business Analysts are responsible for defining the scope of a business analysis and assisting in the implementation of solutions that may include process improvements. In order to do this, analysts must understand how a business operates and the potential impact of changes to the organization. The Driving Operational Performance course will provide learners with an understanding of the operations management concepts and principles that can benefit Business Analysts in the workplace. Through a focus on optimizing processes and efficiency, this course may help prepare learners for a successful career in business analysis.

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Project Manager

Project Managers are responsible for planning, organizing, and executing projects. They work with a team of people to achieve project goals within a specific timeframe and budget. The Driving Operational Performance course will provide learners with a strong understanding of the key principles of project management. By developing an understanding for process analysis, KPI development, and capacity planning, this course may aid learners in developing the analytical skills necessary for a Project Manager.

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Supply Chain Manager

Supply Chain Managers are responsible for planning, organizing, and overseeing the flow of goods and services within a supply chain. They work to optimize efficiency, minimize costs, and improve customer service. The Driving Operational Performance course will provide learners with a strong foundation in the key principles of supply chain management. Through its focus on process analysis, KPI development, and capacity planning, this course may be useful to those wishing to pursue a career in supply chain management.

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Logistics Manager

Logistics Managers are responsible for planning, organizing, and overseeing the movement of goods and services within a supply chain. They work to optimize efficiency, minimize costs, and improve customer service. The Driving Operational Performance course will provide learners with a strong foundation in the key principles of logistics management. Through its focus on process analysis, capacity planning, and KPI development, this course may be useful to those wishing to pursue a career in logistics management.

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Driving Operational Performance

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