prelim Flashcards
responsible for producing goods and or services
operations
activities that provide a combination of time, location, form, and physical value
services
physical items inclusive of raw materials
goods
3 basic functions
finance
operations
marketing
responsible for securing and providing funds
finance
heart of the business
operations
responsible for creating products and sevices
operations
responsible for promoting and selling
marketing
inputs
material
labor
capital
land
information
outputs
products
services
goods
tangible products
production of goods
implies and act or intangible outputs
delivery of service
strategic areas of operation management
strategic operation management
product/service design
supply chain management
quality management
- creating value to customers
- competitive advantage
strategic operation management
- purpose and functionality
- features
- benefits
product/service design
the order of supply chain management
suppliers - manufacturer - distributors - wholesalers - retailers
consistent of the supply
quality management
trends in operation management
focus of well-being of the employees
safety and security for employees
automating manual processes
go green (sustainability)
4 key purchasing criteria
quality
price
delivery
variety
4 competitive priorities
quality
cost
timeliness
flexibility
minimum requirements
order qualifier
go beyond the minimum requirements
order winner
tangible and intangible
resources
tangible and intangible
resources
abilities that a business can offer
capabilities
2 best core competencies
resources
capabilities
3 competitive advantages
superior value
it is rare
very difficult to copy
a measure of the effective use of resources
productivity
