BMGT 110 Chapter Notes - Chapter 1: Human Resources, Information System, Supply Chain Network

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 110
• Professor: All

Document Summary

Deals w/ production of g/s, managing transformation process in efficient/effective way. Engine that create profit and underpins global economy. Factory managers responsible for producing supply of products in man businesses. Operations managers responsible for producing+ delivering supply of services. Operations in manufacturing and service business seen as transformation process. Manufacturing: raw materials, labor, capital + energy finished goods. Service: raw materials, labor, capital + energy services. American economy shifted from production of good to services. Name change from production management to operations management. All decisions are cross-functional should have understanding of all. Many ideas, techniques, principles of operations can be applied across a business. Value= tangible + intangible benefit customers derive from consuming g/s willing price. Can differ depending on customer defined in customer perspective. Org identify inherent value in g/s used to shape production/delivery of good. Purchasing function sources inputs into transformation process of the org. Logistics function responsible for movement of g/s across organizations.