GMS 400 Lecture Notes - Lecture 1: Frito-Lay, Operations Management

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 400
• Professor: Omid Jadidi

Document Summary

Operations management: the set of activities that creates value in the form of goods. Activities creating goods and services take place in all organizations. In manufacturing firms, the production activities that create goods are usually quite obvious. Using as little resources as you can. ; is determined by comparing what a process or installation can produce with what they actually . Service sector: the segment of the economy that includes trade, financial, lodging, education, legal, medical & other professional occupations. Quality assurance considers all available data and possible alternatives. E-commerce: is the trading or facilitation of trading in products or services using computer networks, such as the internet or online social networks. Globalization: globalization is the process of interaction & integration among the people, companies, and governments of different nations, a process driven by international trade & investment and aided by info technology. Supply chain: a sequence of activities & organizations involved in producing & delivering a good or service.