Understanding Business Chapter 9

Understanding Business Chapter 9 - Understanding Business...

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Understanding Business Chapter 9 (Producing World-Class Goods and Services) American Manifactures to become more competitive: Focusing on customers Maintaining close relationships with suppliers and other companies to satisfy customer needs Practicing continuous improvement Focusing on quality Saving on costs through site selection Relying on the internet to unite companies Adopting new production techniques such as enterprise resource planning, computer integrated manufacturing, flexible manufacturing, lean manufacturing Production – creation of goods and services using the factors of production (land, labor, capital, entrepreneurship, knowledge) Production management – all activities managers do to help their firms create goods Operations management – specialized area in management that converts or transforms resources into goods and services Form utility – value added by the creation of finished goods and services Three basic requirements of production: 1. Build and deliver products in response to the demands of the customer at a scheduled delivery time 2. Provide an acceptable quality level
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Understanding Business Chapter 9 - Understanding Business...

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