PHYSICS 102 Lecture Notes - Lecture 11: Operations Management, E-Commerce, Reference Model
Document Summary
Chapter 1 introduction to operations and supply chain management. The providers are linked together by physical flows, information flows and monetary flows. Operations management is the planning, scheduling, and control of the activities that transform inputs into finished goods and services. It can range from long-term fundamental decisions to immediate issues. Important trends that made operations and supply chain management important: electronic commerce: the use of computer and telecommunication technologies to conduct business via electronic transfer of data and documents. It can link together suppliers, manufacturers, distributors, retail outlets and customers, regardless of location. Increasing competition and globalization: rate of change increased, managers have to make decisions more quickly with less information and higher penalty costs if they make mistakes, customers demand quicker delivery and new competitors enter the market. Increased competition and globalization have given many firms opportunities to break away from the pack: relationship management.
