Business Administration - Retail Management OPM400 Lecture Notes - Lecture 1: Operations Management, International Society For Contemporary Music, Supply Chain

• School: Seneca College
• Department: Business Administration - Retail Management
• Course: Business Administration - Retail Management OPM400
• Professor: Jeff

Document Summary

Operations and supply chain management (oscm) the design, operation, and improvement of the syste(cid:373)s that create a(cid:374)d deliver the fir(cid:373)"s pri(cid:373)ary products (cid:894)good a(cid:374)d services(cid:895) Iscm is a functional area of business like marketing and finance. Quality control, quality assurance manager auditor, inspectors. Operations and supply chain management: important to any manager. Operations and supply chain management is about getting work done quickly, efficiently, without error, and at a low cost. Efficiency means to product a good or service by using the smallest input of resources. Effectiveness means doing the thing to create the most value for the company. Value refers to the ratio of quality to price paid. Operations refer to the processes that are used to transform the resources into goods and services desired by the customer. Supply refers to how materials are services are moved to and from those transformation processes. A transformation process uses resources to convert inputs into some desired output.