DANCEST 805 Lecture Notes - Lecture 4: Operations Management, Supply Chain, Production Planning
Document Summary
Chapter 1: introduction to managing operations across the supply chain: a broad definition of supply chain (sc) operations management. Operations management: the management of processes used to design, supply, produce, and deliver valuable g&s to customers. It includes the planning and execution of tasks that may be long-term (yearly) or short-term (daily) in nature. It brings together the activities of internal operations with the operations of customers, suppliers, and other partners around the world. Supply chain (sc): global network of organizations and activities involved in designing, transforming, consuming, and disposing of g&s. Operations management activities located throughout a sc create and enhance the value of g&s by increasing their economic value (lowering delivered cost), functional value (improving product quality or convenience), and psychosocial value (improving product aesthetics and desirability). Most businesses integrate a mix of goods-producing and service-producing operations activities. When you buy a new car, you may also buy financing, maintenance, and repair services.
