ECON 1 Lecture Notes - Lecture 2: Operations Management, Apics, Professional Certification
Document Summary
Chapter 1 introduction to supply chain management: why study operations and supply chain management, every organisation must make a product or service that someone values. The operations function, is the collection of people, technology, systems within an organisation that has primary responsibility for providing the firm"s products or services: most organisations function as part of larger supply chains. A supply chain is a network of manufacturers and service providers that work together to create products or services needed by end users. These manufacturers and providers are linked together through physical flows, information flows, and monetary flows: organisations must carefully manage their operations & supply chains in order to prosper and survive. The traditional way to think about operations is a transformation process in which inputs are transformed in some way to create outputs that a customer values. Inputs can come from many places and take different forms, e. g. raw material or intangible needs.
