SMG SM 131 Lecture Notes - Lecture 14: Information System, Calendar, Operations Management

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Kabrina Chang

Document Summary

Good stuff cheap: goods and services. Good effectiveness: the extent to which the product and its delivery satisfy the customers" wants. Cheap efficiency: the extent to which products are provided at low cost: able to do more efficiently than anyone else allow to make profit. Developed its product idea now it needs to make them. Production planning and control: information systems, make to stock or make to order, inventory policies. Task time time required to complete a task: task time = run time + setup time. Cycle time (1) time between completion of successive units or jobs or (2) rate at which a process completes jobs. Capacity a process"s ability to complete units of work per unit time: how much work you can get done in certain unit of time. Queue time time spent waiting where no value is added; the input is not transformed in any material way.