ITM 102 Study Guide - Cash Flow, Supply Chain Management Software, Bullwhip

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Franklyn Prescod

Document Summary

Management: production is the creation of goods and services using the factors of production: land, labour, capital, entrepreneurship and knowledge. Operations management = om: running the process that takes inputs and creates output (example is a factory) Supply chain management = scm: supply chain fundamentals. Information systems" role in the supply chain: scm success factors, future supply chain trends, the best scm is run by is. Example: restaurant inputs include hungry customers, food, wait staff. The transformation is well prepared food, well served and an agreeable environment. The outputs are satisfied customers: value-added is the term used to describe the difference between the cost of inputs and the price value of outputs. Automobile inputs include sheet steel, engine parts, and tires. The transformation is the fabrication and assembly of cars. Hospital inputs include patients, medical supplies, doctors, nurses. The scope of om ranges across the organization and includes many interrelated activities.