[GMS 401] - Final Exam Guide - Everything you need to know! (95 pages long)

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Payman Ahi

Document Summary

Operations management: the setoff activities that creates value in the form of goods and services by transforming inputs into outputs. Activities creating goods or services take place in all organizations. In manufacturing rms the production activities that create goods are usually quite obvious. Generates the demand or at least takes the order for a product or service. Supply chain: global network of organizations and activities that supplies a rm with goods and services. 1. to learn how people organize themselves for productive enterprises. Om is one of the three major functions of any organization. It is integrally related to all the other business functions; market, nance, produce: to learn how goods and services are produced. A large number of jobs are done in the om function. The production function is the segment of our society that creates the products and services we use. Regardless of your job in an organization, you can perform better if you understand what operations managers do.