ITM 102 Chapter Notes -Cost Leadership, Operations Management, Switching Barriers
13 Nov 2014
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Business info systems note 5- september 27th, 2014. Production is the creation of goods or services made from resources, labour, or knowledge/skill. Canada now has a service economy- one runned by services vs. manufacturing. Company and their products succeed in the business world if they have a strong scm (supply chain management). They work better due to their reduced costs and their increased profit margins. Production management: is used to describe the processes used to create and help a company create a good from a manager"s position. Since this term refers to both goods and services the term production is replaced by operations. Operation management is the process of transforming resources into goods or services. It manages the core process of the production/creation. Transformation process refers to the technical aspect of transforming a resource into a good. It also compares feedback from previous methods and compares them to current standards and etc.
