Study Guides (238,098)
Canada (114,918)
GMS 401 (139)

Midterm Review: Ch. 1,2,4,6

13 Pages
Unlock Document

Ryerson University
Global Management Studies
GMS 401
Robert Meiklejohn

Midterm ReviewGMS401Chapter 1 Introduction to Operations ManagementIntroductionOperations managementmanagement of processes or systems that create goods andor provide servicesProcesses3 types core support managerialEfficiencyoperating at minimum cost and timeEffectivenessachieving quality and responsivenessFunction within organizationsA typical organization has three basic functions operations finance marketingOperationsPerforms all activities directly relating to producing goods or providing servicesRefer Figure 12 page 6 Conversion processValue addedthe difference between the cost of inputs and the value or price of outputsFinanceOperations and finance work hand in hand forProvision of fundsEconomic analysis of investment proposalsMarketingAssesses customer wants and needs and provides feedback to operationsThe scope of operations managementDesign decisions are strategic and long term 15 yearsPlanning decisions are tactical and medium term 112 monthsScheduling execution and control decisions are short term 112 weeksDifferentiating production of goods versus performance of servicesProduction of goods and services differ in1Customer contact use of inventory and demand variabilityaService has more customer contact goods can hold inventory allowing them to absorb shock because of demand variability services and very sensitive to variability2Uniformity of inputaService operations are subject to greater variability of inputs every case is unique and requires a diagnosis3Labour content of jobsaServices require more labour whereas goods can be capital intensive machines4Uniformity of outputaServices have more variability5Measurement of productivityaMore straightforward with goods6Quality assuranceaMore challenging in service operations Operations managers and Decision makingModels an abstraction of reality a simplified representation of somethingQuantitative approachesLinear programming project scheduling techniques forecasting techniques etcAnalysis of tradeoffVery common for managersMay add weights to the items on their list that reflect relative importance of various factorsThe systems approachSystem a set of interrelated parts that must work togetherFrom a systems viewpoint the output and objectives of the organization as a whole take precedence over those of any one partEstablishing prioritiesPareto phenomenon a few factors account for a high percentage of results achievedAlso known as the 8020 ruleEthicsWorker safetyProduct safetyThe environmentClosing facilities taking into account the impact on the community and honouring commitments that have been madeThe historical evolution of operations management
More Less

Related notes for GMS 401

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.