ACC 110 Chapter Notes - Chapter 1-4: Operations Management, Vehicle Insurance, Requirement
8 Nov 2016
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Document Summary
The production of goods and services requires operations management. Operations management (om) is the set of activities (production activities) that creates value in the form of goods and services by transforming inputs into outputs. *universities, places of worship and businesses all perform these functions. A global network of organizations and activities that supplies a firm with goods and services. Suppliers provide everything from raw materials to accounting services; these suppliers when taken together can be thought of as a supply chain. 4 reasons: om is one of the three major functions of any organization, and it is integrally related to all the other business functions. All organizations market (sell), finance (account), and produce (operate), and it is important to know how the om activity functions. Therefore, we study how people organize themselves for productive enterprise: we study om because we want to know how goods and services are produced.
