BU395 Study Guide - Midterm Guide: Strategos, Fixed Cost, Cycl
Document Summary
Operations management design, operation and improvement of the systems that create a firm"s primary products and services . Service a process by which a customer"s needs are satisfied without producing a tangible product . Intangible output if you drop it on your foot, it won"t hurt you . Plan & control ops. to meet demand. Take a systems approach (the whole is greater than the sum of its parts) Establish priorities (some elements are more important than others) (80/20 rule) Supply chain sequence of organizations (their facilities, functions and activities) that are involved in producing and delivering a product or service . Scm management of materials, information and financial flows in a network consisting of suppliers, manufacturers, distributors and customers (supply chain management) Goal link all the components so that demand is matched with supply as effectively as possible across the chain. Types of supply chains: efficient sc highest cost efficiency.
