GMS 401 Lecture 1: Operations Management – Chapter 1

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Robert Meiklejohn

Document Summary

Operations management chapter 1 (the challenge of operations management) What is operations management: production: the creation of goods and services, operations management: the set of activities that creates value in the form of goods and services by transforming inputs into outputs, companies use om to improve: The supply chain: supply chain: a global network of organizations and activities that supplies a firm with goods and services. Operations in the service sector: services: economic activities that typically produce an intangible product such as education, entertainment, lodging, government, financial and health services. Differences between goods and services: services are: Dispersed: service sector: the segment of the economy that includes trade, financial, lodging, education, legal, medical and other professional occupations. What operations managers do: management process: the application of planning, organizing, staffing, leading, and controlling to the achievement of objectives. 10 critical decisions of operations management (1) design of goods and services. How should e design these products? (2) managing quality.