MGT 3501 Lecture Notes - Lecture 1: Operations Management, Product Design, Project Management
Document Summary
Operations management is the management (design, operation, improvement) of the processes that transform material, labor, energy and information into goods and services. Lots of gray areas in decision making. You are the coo of a company with a global supply chain. Raise prices, negotiate lower prices with vendors, find alternative suppliers. The goal directed actions a firm intends to take in its quest to gain and sustain a competitive advantage. Offer a unique product, features, in an industry or functions. Allows the firm to charge a drive down operational costs. Creative design, clever marketing, designs and higher quality. Each can be used to make the firm very successful. Understand the order qualifier and order winner criterion. Position themselves to be better than their competitors. Minimum level of service to be considered. Criteria that is most important to a customers at the time of purchase.
