ADM 2372 Chapter Notes - Chapter 6: Material Requirements Planning, Operations Management, Capacity Planning

• School: University of Ottawa
• Department: Administration
• Course: ADM 2372
• Professor: Zikun Zhang

Document Summary

Adm2372 chapter 8- operations management and supply chain management: Production: the creation of goods and services using the factors of production: land, labour, capital, entrepreneurship, and knowledge. Organizations that excel in scm perform better in every measure of success. Scm helps different entities in the supply chain work together more effectively. Production management: all the activities managers perform to help companies create goods. Operations management (om): the management of systems/processes that convert or transform resources into goods and services: responsible for managing the core processes used to manufacture g/s. Creating g/s involved transforming or converting inputs outputs. Transformation process: technical core: conversion of inputs to outputs. Value-added: describes the difference between the cost of inputs and the price value of outputs. Om is critical because it increases value-added during the transformation process. Greater value added means greater amount of funds available for other activities.