GMS 401 Study Guide - Midterm Guide: Quality Function Deployment, Remanufacturing, Process Design
4 Nov 2013
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Operations management = management of processes or systems that create goods and/or provide services. Process = a series of linked actions, changes, or functions bringing about a result. 3 types of process: core/operational directly create goods and/or services, support- support core processes, managerial- govern the system. Companies use om to improve: efficiency (operating at cost & time) and effectiveness (achieving quality and responsiveness; intended goals to succeed) Large % of expenses in om area (improvements = profits), large # of jobs in om & activities in other areas are interrelated with om activities. Inputs (land, labour, capital) transformation process outputs (goods/services) control (feedback) inputs. Adding value = difference b/w cost of input and price of output: used for r&d, investment, profits and production (overlapping b/w main functions) Goods producing (farming), storage/transportation (warehouse & trucking), exchange (retailing), entertainment (films), communication (newspaper & telephone. Product design, maintenance, mis, logistics, personnel (hr), accounting, purchasing, & manufacturing/engineering.
