ADM 2372 Chapter Notes - Chapter 8: Material Requirements Planning, Supply Chain Management Software, Strategic Business Unit
9 Apr 2016
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Chapter 8: operations management and supply chain management. Production is the creation of goods and services using the factors of production: land, labour, capital, entrepreneurship, and knowledge. Canada is now what is called a service economy one dominated by the service sector. Organizations that excel in operations management, specifically supply chain management, perform better on every financial measure of success. When supply chain excellence improves operations, companies experience a higher profit margin, less inventory, stronger perfect order ratings, and significantly shorter cycle times than their competitors. Production management describes all the activities managers perform to help companies create goods. Operations management (om) is the management of systems or processes that convert or transform resources (including hr) into goods and services. Om is responsible for managing the core processes used to manufacture goods and produce into services. A transformation process is often referred to as the technical core, especially in manufacturing organizations, and is the actual conversion of inputs to outputs.
