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GMS 401 (200)
Chapter 1

Chapter 1 Chapter 1 notes

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Ryerson University
Global Management Studies
GMS 401
Wally Whistance- Smith

Chapter 1: Intro to Operation Management Operations management: the management of processes or systems that create goods and/or provide services. Forecasting: forecasting the demand for flights and the growth in the industry Capacity planning: the number of planes to use Scheduling: of planes for flights, maintenance.. Managing inventories: of food beverages, spare parts Assuring quality: with reservations, safety and in-flight service. Employee motivation and training: in all phases Location of facilities: where to provide service and maintenance etc Buying materials: fuel, food bags, spare parts etc A large percentage of a company’s expenses occur in OM area (OM is such a costly part of any organization) Value added: difference between the cost of inputs and the value or price of outputs. Lead time: the time between ordering a good and receiving it. Marketing obtains this info from operations. Marketing, finance, design, manufacturing engineering, personnel/human resources, accounting.. Creation of goods and services involves designing and operating the production process: – Designing decisions (capacity, location, equipment) – Operating decisions • Planning • Execution • Controlling System design (system capacity, location of facilities, arrangement of departments, placement of equipment, product and service planning, inventory planning and control etc )is the most important because many of the parameters of the system operation are decided by design, costs, space, capacities and quality are directly affected by design decisions. A number of features differentiate operations systems – Degree of product standardization Standardized: high degree of uniformity, radios, tvs cars etc or automatic car washes, fast food service Customized: good designed for a specific case, eye glasses, custom fitted c
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