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RSM100Y1 (431)
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Chapter 11

RSM 100 - Chapter 11 - Summary Notes

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University of Toronto St. George
Rotman Commerce
John Oesch

RSM 100Y Chapter 11: Producing Goods and Services Creating Value through Production: Utility The power of a product to satisfy a human want; something of value Time Utility Value by making a product available when needed Place Utility Making an object available where consumers can buy it Ownership Utility Satisfies want by being consumedused Form Utility Creates value by being in a useable form OperationProduction Management Oversight of production process Production Managers: Anyone who ensures that processes create value - Farmer, Supervisor. ANYONE who transforms shit into other shit Operations Processes Goods can be described in terms of the transformation technology required. Chemical Process: Goods are chemically altered (Steel, aluminum, gas) Fabrication Process: Goods are physically altered (Furniture, textiles) Assembly Process: Goods are put together (Computer, Car, Cellphone) Transport Process: Moving of goods from one place to another Clerical Process: Recording all the information of movements of goods In General: Analytic Process: Breaking things down Synthetic Process: Items are combined Service Producing Process Classified in terms of Customer Contact High-Contact Process: Customer must be present for service to work (TTC) Low-Contact Process: Customer doesnt have to be there (Car Repair) Differences between Manufacturing and Service Industry Focus on Performance: Quality of goods vs. Quality of Customer Satisfaction Focus on ProcessOutcome: Just end good vs. Customer care + End good
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