BMRT 46418 Chapter Notes - Chapter 1: Balanced Scorecard, Lawn Mower, Operations Management
19 Nov 2020
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This first module is the efficiencies of operations management. This module is an introductory discussion concerning what operations management (om) is and why it is so important. Operat ions management is the administration of business practices to create the highest level of efficie ncy possible within an organization. It is concerned with converting materials and labor into goo ds and services as efficiently as possible to satisfy customer needs and maximize the profit of an organization. It is important to distinguish between goods and services. Goods are physical items that can be i nventoried. Consider the mtd corporation in cleveland that makes lawn mowers. If mtd want s to shut down for mandatory vacation and inventory over the fourth of july week they simply b uild up extra inventory ahead of time. If done correctly, future shipments are not impacted. Now consider a private lawn service company that uses mtd lawnmowers.
