FARE 3310 Chapter 1: OM - Chapter 1

• School: University of Guelph
• Department: Food, Agricultural and Resource Economics
• Course: FARE 3310
• Professor: Mike

Document Summary

Operations management (om): activities that relate to the creation of goods and services through the transformation of inputs to outputs: whether it is a good or service that is being produced, operations management is key in their deliverance. 3 most necessary functions for organizational survival and production: organizing to produce goods and services , marketing (generating demand, production/operations (creating the product, finance/accounting (tracking financial performance, paying bills, collecting money) It (cid:272)a(cid:374) (cid:271)e a(cid:272)(cid:272)o(cid:373)plished (cid:449)ith effi(cid:272)ie(cid:374)(cid:272)ies and cost cutting in operations or other business functions. Management process: the application of planning, organizing, staffing, leading, and controlling to the: what operations managers do achievement of objectives. 10 critical decisions of operations management: design of goods and services, managing quality, location strategy, layout strategy, process and capacity design, human resources and job design. Inventory, material requirements: maintenance planning, and jit. Where are the om jobs: om jobs require a knowledge of finance, accounting, statistics, and om principles.