Planet Money Summer School 6: Operations and 25,000 roses
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Aug 16, 2023 
Santiago Gallino, a Wharton professor specializing in operations management, dives into the art of planning and logistics. He explores the delicate balance of supply and demand using the example of ordering 25,000 roses for Valentine's Day. Gallino discusses the trade-offs businesses face, such as risking unsold inventory versus missed sales opportunities. He also touches on the complexities of operations in everyday settings, like coffee shops, and the evolving dynamics of self-checkout systems in retail, making business strategy feel both relatable and engaging.
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Operations Management
- Operations management optimizes businesses and manages waste.
- They ensure smooth operations, from factory lines to Disneyland queues.
Coffee Shop Operations
- Getting a cup of coffee involves a complex operational process, from bean to cup.
- This includes managing supplies, staff, and customer flow.
Managing Uncertainty
- Embrace uncertainty in business and plan for various scenarios.
- Account for variables like weather and time to complete tasks.