ITM 410 Lecture Notes - Lecture 1: Costco, United States Postal Service, Supply Chain

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 410
• Professor: Hesham Saadawi

Document Summary

Chapter 1 using operations to create value. It"s the systematic design, direction, and control of processes that transform inputs into services and products for internal and external customers. I. e. dis(cid:374)e(cid:455)"s rfid desig(cid:374)ed bracelet that cut processing time and labor and increased customer experience. Process is any activity or group of activities that take one or more inputs, transforms them, and provides one or more outputs for its customers. Operation is a group of resources performing all or part of one or more processes. It"s the s(cid:455)(cid:374)(cid:272)h(cid:396)o(cid:374)izatio(cid:374) of a fi(cid:396)(cid:373)"s p(cid:396)o(cid:272)esses (cid:449)ith those of its supplie(cid:396)s a(cid:374)d (cid:272)usto(cid:373)e(cid:396)s to match the flow of materials, services, and information with customer demand. Supply chain is an interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers. Operations and scm underlie all departments and functions in a business. Operations translates materials and services into outputs. Finance acquires financial resources and capital for inputs.