[MGT 180] - Final Exam Guide - Ultimate 28 pages long Study Guide!
30 Mar 2017
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Best to get a balance of supply and demand. Key functions: supply: operations & supply chains, demand: sales 7 marketing. Interacts with : legal, accounting, management information systems (mis, personnel/human resources, public relations. Goods productions => tangible output: degree of customer contact. Finance & operations management exchange info & expertise in . Marketing needs lead time from operations. (time between ordering good/service and getting it) Process management actions that make inputs into outputs. Upper- management process: governing of operations of organization. Process variation: (4 sources: variety of goods/services offered, structural variation in demand, random variation, assignable variation. Six sigma: process for reducing costs, improving quality, increasing customer satisfaction. Competition between businesses through: price, delivery time, product/service differentiation. No operations strategy or not following it. Not taking advantage of strengths/opportunities, or recognize threats. Too much emphasis on short-term financial performance. Neglection of investments in capital & human resources. Product/service design, not enough on process design/improvement.
