GMS 401 Lecture 1: GMS401 lecture 1

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Fatemeh Firouzi

Document Summary

And it is responsible to manage activates and resources to produce goods or services. We know that companies have specific goals, like producing goods as fast as possible or other goals and objectives. So it helps deliver these goal with the lowest cost/ time with the highest quality or quick introduction to the market. Om activities: forecasting (predicting sales and demand, and respond appropriately to it), capacity planning, scheduling, managing inventories, assuring quality, motivating employees, where to locate facilities. Activities may differ depending on the type of goods a company produces; services/products. Input transformation/conversion process output: the main objective of operating function is to add value, the transformation process adds value by converting raw materials into goods to sell. The transportation process adds value by delivering products to customers. Types of operations: goods producing: farming, mining, construction, manufacturing, power generation, services: warehouses, trucking, mail service, moving, taxi, buses, hotels, and airlines.