AFM131 Lecture Notes - Lecture 6: Computer-Integrated Manufacturing, Facility Location Problem, Operations Management

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Research and development work directed towards innovation, introduction and improvements of products and processes. 3 objectives of innovation: improve product quality, increase production capacity and extend product range. With advanced technology, industries can increase their production capabilities, improve their productivity and expand their lines of goods and services. Maintain relationship with suppliers and companies to satisfy customer needs. Production creation of goods and services using the factors of production land, labour, capital, entrepreneurship and knowledge. Production management management activities that have helped firms create goods. Includes quality control, inventory management, follow up services and more. In school, building, professors, books, computer systems transfer students into educational people. All about creating a good experience for those who use the service. There is evidence that productivity in the service sector is rising but productivity does. Ex of productivity at burger king, people can create their own drinks with the machine which allows workers to concentrate on other work.