[BUSI 2603U] - Final Exam Guide - Ultimate 53 pages long Study Guide!
Document Summary
Chapter 1 introduction to operations & supply chain management. Operations management designs operates, and improves manufacturing and service systems. Operations managers can be found in any entity, they design systems, ensure quality, produce products, and deliver services. Operations is often defined as a transformation process or a function or system that transforms inputs into outputs of greater value. The transformation process itself can be viewed as a series of activities along a value chain extending from supplier to customer. Value chain a series of activities from supplier to customer that add value to a product or service. The transformation process can be physical, as in manufacturing operations; locational, as in transportation or warehouse operations; exchange, as in retail operations; physiological, as in health care; psychological, as in entertainment; or informational, as in communication. Operations managers are the people that get things done; the planners, coordinators, and negotiators.