RSM100Y1 Lecture : Very Detailed notes of Chapter 11
Document Summary
Service operations: production activities that yield tangible and intangible products o. Goods production: production activities that yield tangible products: radios, newspaper, busses, production is the making of physical goods and services. The growth of global operations: machines have largely taken over in manufacturing, production operations have also become a lot more environmentally friendly. Creating value through production: utility (4 kinds): the power of a product to satisfy a human want; something of value. o. Time utility: the quality of a product satisfying a human want because of the time at which it was made available. Ornaments during christmas: place utility: the quality of a product satisfying a human want because of where it is made available. Different departments in stores: ownership (possession) utility: that quality of a product satisfying a human want during its consumption or use. o. Fabrication process: mechanically alter the basic shape or form of a product.
