OPM 200 Study Guide - Comprehensive Midterm Guide: Steinway & Sons, Operations Management, Total Quality Management

• School: Drexel University
• Department: Operations Management
• Course: OPM 200
• Professor: Min Wang

Document Summary

Finance/accounting tracks how well the organization is doing, pays bills, collects the money. Supply match demand with supply demand. Operations management takes care of the supply side. Production is the creation of goods and services. Om is about the systematic design, direction, and control of processes that transform inputs into products and services for internal, s well as external, customers and create value for the organization. Today"s topics: process strategy, service processes, break-even analysis. Processes convert inputs into outputs and are at the core of operations management. The objective of process strategy is to create a process to produce products that meets customer requirements within cost and other managerial constraints and to achieve their competitive priorities. How to produce a product or provide a service: meets or exceeds customer requirements, meets cost and managerial goals. Has long-term impacts on: efficiency and production flexibility, costs and quality. The impact of the process strategy could go beyond operations.