MGM101H5 Chapter Notes -Materials Management, Gantt Chart, Human Resource Management
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MGM101H5 Full Course Notes
Verified Note
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Document Summary
Operations management: is all about the ability of a company to control and or approve its business processes. When we visualize the interconnectivity of these three business system components, we should conclude the following: These three components and the corresponding actions that take place within the opera- tions area result in getting the right product or service to the right customer at the right place at the right time for the right price. Successful businesses look to establish within their business systems competitive advantages that enable them to deliver their products and/or services to their targeted market segments in a manner superior to that of the competition. Operations management is the effective design, development, and management of the processes, procedures, and practices em- bedded within an organization"s business system for the purpose of achieving its strategic intent. Areas of responsibility: process management, supply chain management, product service management.
