OPMA 317 Study Guide - Midterm Guide: Random Variable, Longest Path Problem, Human Resources
6 Mar 2018
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Document Summary
Operations & supply chain management- the design, operation, and improvement of the systems that create and deliver goods and services. Operations-manufacturing and service processes that use an organization"s resources to transform inputs into outputs. Supply chain management-processes that move information and material to and from the operations processes where transformation occurs. Triple bottom line- profit(economic plausibility), planet(environmental responsibility), people (social responsibility) The integration of independent organizations, suppliers and customers has produced creative solutions in the area of supply chain management. 4 factors that have significantly increased global competition: technology, transportation infrastructure, newly industrialized countries, free trade. The direct/indirect consequences of canadian firms not being globally competitive include job losses, recession, and a lower standard of living for canadians. Operation management contribution to society: higher standard of living: Higher productivity = lower price goods = more discretionary income available: better quality goods and services: e. g. six sigma, sustainable growth: Reverse supply chain: improved working conditions:
