MKT 100 Study Guide - Six Sigma, Histogram, Hazard Analysis And Critical Control Points

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Jennifer Fraser

Document Summary

3 criteria to management marketing, finance and operations. Supply chain management- the management of the chains of supply, managing the chain that involves the movement of the product from production to the hands of the consumer. Operations management- is the management of processes or systems that create goods and/or provide services, this improves efficiency and effectiveness. Finance- provide funds and the economic analysis of investments proposals, securing resources. Large percentage of company"s expenses occur in operations management at favorable prices. Budgeting- plan financial requirements, including adjustments and evaluations. Marketing- assess customer wants and needs and communicate them to other, selling, promoting, advertising, pricing, assessing wants and needs. Purchasing- procurement or acquiring of materials, supplies and equipment. Value added- difference between cost of input s and value or price of outputs, may be used for research and dvlpt, investment and profits, production is increased. An operations manager plans organizes controls and directs in everyday situations.