BUSN 70 Lecture Notes - Lecture 44: Operations Management, Facility Location Problem
13 Mar 2021
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Document Summary
Operations management (om) = development and administration of the activities involved in transforming resources into goods and services. Historically, om has been called production or manufacturing limiting it to the manufacture of physical goods. The change from production to operations recognizes services and ideas and views the function as a whole. Manufacturing = activities and processes used in making tangible products; also called production. Production = activities and processes used in making tangible products; also called manufacturing. Operations = activities and processes used in making both tangible and intangible products. At the heart of om is the transformation process though which inputs are converted into outputs. Inputs = resources such as labor, money, materials and energy that are converted into output. Outputs = goods, services and ideas that result from conversion of inputs. Taking measurements (feedback) and comparing them to established standards. Combines inputs in predetermined ways using different equipment, administrative procedures, technology, to create a product.
