ECON 1 Lecture Notes - Lecture 15: E-Commerce, Operations Management, Capacity Planning
Document Summary
Chapter 1 introduction to operations and supply. 1. 1 why study operations and supply chain management: every organisation must make a product or provide a service that someone values, operations function: also called operation. These manufacturers and service providers are linked together through physical flows, information flows, and monetary flows. Supply chains link together the operations functions of many different organisations to provide real value to customers: organisations must carefully manage their operations and supply chains in order to prosper and survive. Often highly dependent on the quality and availability of the inputs: nearly all operations activities require coordination with other business functions (engineering, marketing, human resources, operations management activities are information and decision intensive. It has to be made sure that the right people and equipment are available to do the job, the right materials arrive when needed, and the product or service is completed on time, at cost and to specifications.
