MGTA02H3 Chapter : Chapter Notes
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MGTA02H3 Full Course Notes
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business: an organized effort to provide thingas that customers want to buy. why call it operations: called operations because it cannot be called products. Lawyers, doctors, accountants do not make products; they make information, expertise, etc. However they still need to be planned, managed and supplied, therefore it is better to call it operations. operations/production: direction and control of processes that transform resources into finished goods. operations/production managers: ensure operations create value and provide benefits. Make things happen: businesses take factors of production and transform them into products and services with customer value. what operations managers should do: demand panning: forecast how much you need to make, capacity planning: ensure enough space, and workers to meet demand. If capacity exceeds demand then company is wasting money: location planning: finding best location for getting materials, employees, and transporting to market. Also community living conditions are a factor: layout planning: arrange factory/store for smooth flow of materials.
