[GMS 401] - Final Exam Guide - Everything you need to know! (134 pages long)

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Wally Whistance- Smith

Document Summary

Gms401 class 1 main points: operations management, management, a process by which objectives are achieved through the use of resources. Finance/accounting tracks how well the organization is doing, pays bills, collects the money: a. Why study operations management: om is one of three major functions of any organization. Inventory reduction: productivity improvement, certifications, apics, the association for operations management, canadian institute of management (c. mgr, standards council of canada. Institute for supply management (ism: project management institute (pmi, council of supply chain management professionals. Three basic functions: operations: responsible for the creation of goods and services, finance: responsible for the provision of funds and the economic analysis of investment proposals. Winter 2017: marketing: responsible for promoting the goods/services of the organization and for assessing customer wants and needs. Job shop: project, batch process, assembly line, continuous process, characteristics of service operations.