CCT225H5 Chapter Notes - Chapter 5: Material Requirements Planning, Iso 14000, Iso 9000
12 Mar 2014
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Document Summary
Production is the creation of goods and services using the factors of production: land, labour, capital, entrepreneurship, and knowledge. Production has historically been associated with manufacturing, but the nature of business has changed significantly in the last 20 years. Production management describes all the activities managers perform to help companies create goods. To reflect the change in importance from manufacturing to services, the term production is often replaced by operations to reflect the manufacturing of both goods and services. Operations management (om) is the management of systems or processes that convert or transform resources (including human resources) into goods and services. Operations management is responsible for managing the core processes used to manufacture goods and produce services. Transformation process is often referred to as the technical core, especially in manufacturing organizations, and is the actual conversion of inputs to outputs.
