MGTA02H3 Chapter Notes - Chapter 1: Capacity Planning, Material Requirements Planning, Business Plan
1
MGTA02H3 Full Course Notes
Verified Note
1 document
Document Summary
Service operations: production activities that yield intangible services. Goods production: production activities that yield tangible products. Service sector managers focus less on equipment and technology than on the human element in operations success/failure depends on customer-provider contact. Operations (production management): the systematic direction and control of processes that transform resources into finished goods and services. Operations processes: a set of methods and technologies used in the production of a good or service. The business plan and forecasts developed by top managers guide operations planning. Business plan outlines goals and objectives, including the specific goods and services that the firm will offer. Managers also develop a long range production plan through forecasts: estimates of future demand for both new and existing products. Business plan and forecasts long range operations plan operations schedules operations control output to customers (all include information results i. e. feedback) Capacity: the amount of a good that a firm can produce under normal working conditions.
