GMS 401 Chapter Notes - Chapter 1: Cost Accounting, Time And Motion Study, William Ouchi

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Chapter 1 introduction to operations management. Marketing: performs all activities directly related to producing goods or providing services, core of most organizations. Inputs are used to obtain goods or services using one or more transformation processes (storing, transporting, cutting) Measurements are taken along the way of this process (feedback) and then compared with standards. Economic analysis of investment proposals: focuses on selling or promoting the goods or services, lead time: the time it between ordering a product and receiving it; a number marketing needs to know from operations. Differentiating features of operations systems. Degree of product standardization: how uniform the product is or if its customizable. Type of process: the degree of standardization and the volume of output influences the way a firm organizes its production process. Production of goods versus services: goods - results in a tangible output, services implies an act, differences involve the following. Customer contact, use of inventories, and demand variability. Operations managers and decision making.

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