RSM100Y1 Lecture Notes - Canada Green Building Council, Computer-Integrated Manufacturing, Centralisation
Document Summary
Utility the want-satisfying power of a good or service. Businesses can create or improve four basic kinds of utility: time , place , ownership and form. Uses resources ,including workers and machinery, to convert materials into finished goods and services. Is to oversee the firm"s production process by managing the people and machinery that convert materials and resources into finished goods and services. Production and manufacturing is not the same thing. Production is used in both manufacturing and nonmanufacturing industries. The production process can result in a tangible good. Both production processes create a useful good or service. This chapter describe the process of producing goods and services. The importance of production and operations management. Methods businesses use to ensure high quality. Lower a firm"s production cost ; increase the quality of goods and services; allow it to be dependable when meeting customers" needs ; enable it to renew itself by providing new products.
