Textbook Notes (368,035)
Canada (161,583)
MGTA02H3 (363)
Chapter 1

Detailed Chapter 1 - 4 Lecture Notes

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Management (MGT)
Chris Bovaird

Intro to Management Part II Notes Jan, 10, 2011 Chapter 1: Producing Goods & Services Operations Management: Business: organised efforts to provide things that customers want to buy Why is operations called operations and not productions*** MIDTERM Operation: the direction & control of processes that transform resources into finished goods the management of the creation of g&s, using the factors of production Why is it called operations management?: - not called production because the word production implies that Canadian makes products - but the problem is that in Canada we dont really produce a lot of products (goods) instead we provide services - 80% of Canadians provide services (something intangible) (e.g. bankers, lawyers, professors & accountants) - Yet those services still need to be planned, managed & supplied - Thus its called operations management Importance of Services: - services rep. about 69.1 of GDP - manufacturing rep. about 28.8% - agriculture rep. about 2.1% Service Operations: Special Issues: - products can be stored, services can not (book & restaurant) - products can be made wo customers, services can not (bus ride) - products should be the same, services should not (jeans & hair cuts) What Operations Managers Do?: 1. Demand planning: forecast the quantity you need (run out coffee @ coffee shop) 2. Capacity planning: ensure enough space& workers to meet demand (TH @ UTSC) 3. Location planning: find the best location for getting materials & good employees, transport to market (Rexs Den @ UTSC) 4. Layout planning: arrange storefactory for smooth flow of materials 5. Schedule: to finish on time & start on time (1976 Olympic Stadium, finished 1981) www.notesolution.com
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