[MAN 4504] - Midterm Exam Guide - Ultimate 14 pages long Study Guide!
7 Feb 2017
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Production = creation of goods & services. Operations management = set of activities that create value in from of goods/services. Management of the flow & storage of raw materials & goods from point of origin to consumption. Things are complex but that makes things better! It is the job of om / scm to be sure they do things flawlessly, quickly, efficiently. Give customer what they want, when they want it & as often as they want it at a reasonable price while making a profit. Between price and product cost, seller incentive. > greater than 3 months but shorter than a year. Purchasing, job scheduling, workforce levels, job assignments, production levels. > greater than 3 months but shorter than 3 year. New product planning, facility location, research & development. > good supplier relations & advantage in product innovation. > shortage in capacity can result in loss of customers or market share.
