BUS 346 Chapter Notes - Chapter 1: Customer Satisfaction, Operations Management, Excess Supply

• School: Stony Brook University
• Department: Business Management
• Course: BUS 346
• Professor: Michael Shane Higuera

Document Summary

Goods = physical items (i. e. raw mat, parts, subassemblies, final products) Services = activities provide combo of time/locations/form/psychological value. Ideal sit = achieve econ match of supply & demand. Not enough supply = lost opportunity, customer dissatisfaction. Finance, marketing, operations: finance = securing finances and allocating them. Budgeting, analyzing investmen proposals, providing funds: marketing assessing consumer wants & needs and selling & promoting org"s g/s, operations = producing goods/providing services offered by organization. Operations management = management of systems or processes tht create goods/ provides services. Seq of org involved in producing & delivering product/service. Suppliers of raw mate final customer. Functions & activities (i. e. forecasting, inventory management, information management) Chain or tree: tree main branch represent key suppliers/transporters (i. e. trucking companies) External & internal: external raw mate, parts, equip, supplies, other inputs, internal part of operations function, supplying operations w/ parts/mat, performing work on prod, performing services.