AFM131 Lecture Notes - Lecture 10: Critical Path Method, Lean Manufacturing, Iso 14000

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Canada facing difficulties to remain a modern competitive industrial country, ex. Foreign parent companies and profits are return to the companies and not in. Canada- lack of money spent on r&d: canada is a service economy- dominated by service sector, research and development= work directed toward the innovation, introduction, and improvement of products and processes. Knowing customer needs and satisfying them are two different things. Measuring quality in the service sector: productivity in service sector is rising but not necessarily quality, ex. Atms, headsets in drivethrough, computerized checkout to measure productivity- track inputs (worker hours) to outputs (dollars) operations management planning. Helps solve many of the problems in the service and manufacturing sectors. Materials requirement planning=is a computer based operations management system that uses sales forecasts to ensure that needed parts and materials are available at the right time and place. Process layout=frequently used in operations that serve different customers different needs.