BMRT 46418 Chapter Notes - Chapter 1: Operations Management, Systems Theory, Quality Management

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Management of any activities/process that create goods and provide services. Management of operations is critical to create and maintain competitive advantages. Service oriented (health care, transportation and retailing) Value-added (the essence of the operations functions) Provision of funds (the necessary funding of the operations) A systems approach is essential whenever something is being designed, redesigned, implemented, or improved. It is important to take into account the impact on all parts of the system. Example: a new feature is added to a product. Designer must take into account how customers will view the change, instruction for using new feature, the cost, training of workers, production schedule, quality standard, advertising must be informed about the new feature. Value added: the difference between cost of inputs and price (??) of outputs. Value added: the difference between the cost of inputs and the (market or fair) value or price of outputs. Take advantage of standardized methods, less skilled workers, materials .

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