COMMERCE 2OC3 Lecture Notes - Lecture 1: International Trade, Operations Management, Industrial Revolution
22 Jan 2017
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Document Summary
Activities that relate to the creation of goods and services through the transformation of inputs to outputs. Ensures that goods and services are created and delivered successfully to customers. Processes of multiple firms can be linked together to form a supply chain. Interrelated series of processes with and across firms that produces a service or product to the satisfaction of the customer. Om throughout the world are producing products to provide wellbeing of society: come in many different forms. Apply to restaurants, factories, and virtually all productive enterprises. Efficient production of goods and services requires effective application of the concepts, tools and techniques of om. Production: the creation of goods and services. Generates demand, takes order for a product or service. Nothing happens until there is a sale: (2) production/operations. Tracks how well the organization is doing, pays the bills, and collects the money.
