COMMERCE 2OC3 Chapter Notes - Chapter 1: Operations Management, Workforce Productivity, The Techniques
10 Feb 2018
School
Department
Course
Professor
Document Summary
Operations management (om) is a discipline that applies to many different companies. The techniques of om apply throughout the world to virtually all productive. The techniques of om apply throughout the world to virtually all productive enterprises. The production of goods and services requires operations management. The efficient production of goods and services requires effective application of the concepts, tools, and techniques of om. Production is the creation of goods and services. Operations management (om0 is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. To create goods and services, all organizations perform three functions. Marketing, which generates the demand, or at least takes the order for a product or service (nothing happens until there is a sale) Finance/accounting, which tracks how well the organization is doing, pays the bills, and collect the money. Through the three functions, value for the customer is created.
