UGBA 10 Midterm: Module 1 Vocabulary

• School: Berkeley
• Department: Business Administration Undergraduate Program
• Course: UGBA 10
• Professor: Omar Romero-Hernandez

Document Summary

Operations management - the systematic design, direction & control of processes that transform inputs into services & products for internal & external customers. Process - any activity/group of activities that takes 1+ inputs & transforms them to provide 1+ outputs for customers. Operation- group of resources performing all/part of one or more processes. Supply chain - interrelated series of processes within & across firms that produces a service or product to satisfaction of customers. Supply chain management - synchronization of firm"s processes w/ those of its suppliers & customers to match flow of materials, services & info w/ customer demand. External customers - a customer who is either an end user or an intermediary (ex. Manufacturer, financial institutions or retailer) buying the firm"s finished services or products. External suppliers - businesses or individuals who provide resources, services, products & materials for firm"s short-term & long-term needs.