MIS 373 Lecture Notes - Lecture 1: Industrial Engineering, Operations Management, Project Management

• School: University of Arizona
• Department: Management Info Systems Main
• Course: MIS 373
• Professor: Eyran Gisches

Document Summary

The management of systems of processes that create goods/produce. Every aspect of business affects is affected by operations. A significant amount of interaction and collaboration amongst the functional areas. Value-added = value / (price of output - cost of input) Measurements taken at various points in the transformation process. The comparison of feedback against previously established standards to determine if corrective action is needed. Products are often not purely a good or service. Surgery is a lot of service, some good. Home remodeling is a lot of good, some service. Operations consists of all activities directly related to producing goods or providing services. Goal of om is to eliminate or minimize. How to eliminate waste the 5 s"s. Focus on the most important aspects of the real-life system and omit unimportant details. A decision-making approach that seeks to obtain mathematically optimal solution.