AFM101 Midterm: Operations_Study_Notes (1).docx

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM101
• Professor: Donna Zathy

Document Summary

Canada is a resource intensive country facing global competition and ever-changing technologies. Issues include: lagging productivity, inadequate education/retraining of our workforce, Branch development expenditures, stronger canadian dollar (see figures 10. 1 on page 290) plant economy (profits not re-invested in canada), lack of research and. Research and development directed toward innovation ( introduction and improvement products and processes along with organizational change) and its communication of. Objectives of innovation - improve product quality, increase production capacity, and extend product range. To regain their competitive edge canadian manufacturers have: focused on customers, improved logistics, practice continuous improvement, focus on quality, saving on cost in selection, relying on the internet to unite companies, and adopting other modern site production techniques. Article, beat china on cost ability of a canadian company to compete. Production management creates goods has evolved into operations management which converts /transforms resources (including human) into goods and services (growing. Operations management includes: inventory management, quality control, production scheduling, follow-up services.