MGMT 401 Lecture Notes - Lecture 1: Operations Management, Decision-Making, Factors Of Production
Document Summary
Discuss om as a system, a functional area, and a decision-making framework. System: operations management is the management of a system with dependent events where each system has its own variations. Function: there is a ow of goods and services. (cid:12254) These ^ functions can be two types of functions: Decision making: om is a system of decisions that om"s will make (cid:12254) Service is something which is produced and consumed simultaneously: the customer is brought into direct contact with operation, a service can"t be produced in one place and shipped to another, intangibility, (ii) multi-locations, (iii) demand variability, (iv) perishability. Service is di erent than just production bc like the de nition: it is produced and consumed simultaneously (cid:12254) You can"t have an american doctors o ce in china. With ge making dishwashers: inventory is parts of a dishwasher. Total factory productivity ratios: total output / total input. Total factor productivity index (assume base year 2008)
