MKTG1021 Lecture Notes - Coronary Artery Bypass Surgery, The Henry Ford, Regular Polygon
Document Summary
Mondays and wednesdays 9:30am 12:45pm and 2 4:15pm. Description: operations management studies the business processes by which inputs of material, labor, capital and information are transformed into products and services that customers want and are willing to pay for. Business processes are how work gets done in organizations, and regardless of one"s functional orientation, superior process performance relies on good operational practices. For any product or service, the two key inputs that drive the process design are the operations strategy (i. e. , competitive priorities) and the demand forecast (both the level and variability). After introducing the topics of operations strategy and forecasting, we move on to choosing the proper process type and analyzing process flows. In particular, the variability of input and process flows has a considerable impact on process performance that requires managerial levers to plan for and control it.
