EBTM 365 Chapter Chapter 1: EBTM365 Chapter One
11 Feb 2017
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Document Summary
Goods- physical items produced by business organizations (i. e. cell phones) Services- activities that provide some combination of time, location, form, and physical value. Key functions: supply operations and supply chains & demand sales and marketing. Operations management- is the management of systems or processes that create goods and/or provide services. Supply chain- is the sequence of organizations, their facilities, functions, and activities that are involved in producing and delivering a product or service. The value of the product increases as it moves through the supply chain. External part- provide raw materials, parts, equipment, supplies, and/or other inputs to the organization, and they deliver outputs that are goods to the organization"s customers. Internal part- part of the operations function itself, supplying operations with parts and materials, performing work on products, and/or performing services. Product packages- a combination of goods and services. The essence of the operations function is to add value.
