BU121 Lecture Notes - Lecture 8: Triple Bottom Line, Product Stewardship, Greenwashing
Document Summary
The 3 main decisions in operations management. The different types of production and processes used. The factors to consider in choice of location, and facility layout (and how this links to type of production and process used) The factors to consider in deciding to outsource and whether to manufacture overseas. The importance of inventory management and the balance between keeping down the costs of ordering and holding inventory vs. maintaining enough inventory for production and sales. What a supply chain is and why it is so important, and the importance of value-stream mapping". The difference between service and manufacturing businesses. What sustainability means, and the importance of the triple bottom line. How firms weave sustainability into their operations through product design, product stewardship, servicing, and the supply chain. What green-washing is and why it matters. Both transform inputs into finished outputs but in service: The input is the person with unsatisfied need or possession that requires care.
