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3QC3-CH1.docx

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Department
Commerce
Course
COMMERCE 4OB3
Professor
Fouzia Baki
Semester
Winter

Description
Operations Management Chapter 1 Introduction Operations management The design operation and improvement of productive systemsOperations A function or system that transforms inputs into outputs of greater valueValue A series of activities from supplier to customer that add value to a product or servicePhysical ManufacturingLocational Transportation Exchange Retail Physiological Health care Psychological Entertainment Informational CommunicationInputs Transformation ProcessOutput 4 primary functional areas of a firm are marketing finance operations and human resources Operations brings together many disciplines and provides an integrated view of business organizationsCraft Production The process of handcrafting products or services for individual customersDivision of labour Dividing a job into a series of small tasks each performed by a different workerInterchangeable parts The standardization of parts initially as replacement parts enabled mass productionScientific management The systematic analysis of work methodsMass production The high volume production of a standardized product for a mass marketQuality revolution An emphasis on quality and the strategic role of operationsLean production An adaptation of mass production that prizes quality and flexibilitySupply chain management managing the flow of information products and services across a network of customers en
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