FARE 3310 Lecture Notes - Lecture 1: Operations Management, Dynamic Pricing, Food Processing
24 Oct 2014
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Why study om? (cid:2) om is one of three major functions of any organization, we want to study how people organize themselves for productive enterprise. (cid:2) we want (and need) to know how goods and services are produced. That is, we need to know what goes on in the company that actually produces the products or provides services (cid:2) we want to understand what operations managers do. (cid:2) om is a costly part of an organization. Without om nothing happens (cid:2) nothing is produced (cid:2) no products to sell (cid:2) no shipment to markets. What is operations management? (cid:2) operations management (om) deals with producing goods or services. That is, the operations function creates goods and services (reason for existing) by transforming inputs into outputs. (cid:2) operations management is the activity of managing the resources which creates and deliver products (i. e. , goods and services) to customers.
