COMMERCE 2OC3- Final Exam Guide - Comprehensive Notes for the exam ( 110 pages long!)
28 Mar 2018
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Document Summary
Value is added by turning inputs into outputs. Operations - set of activities that creates value in the form of goods and services by transforming inputs into outputs. Operations management is concerned with planning and execution of the transforming activities. In operations management, we design, study and improve the activities that create value in the form of goods and services. Examples of operations for the production of goods. The set of activities that create value in the form of goods and services by transforming inputs into outputs. Coal mining: tonnes per man shift; car dealership: sales of cars per man hour. Litre of water turned into ice per kwh by your freezer. Questions: 1000 units were produced using 20 hours of labour. External elements may cause an increase or decrease in productivity. Quality may change while the quantity of inputs and outputs remains constant. It reassures customers of the quality of hotels and they offer guidance and assistance.
