Chapter 1.docx - Chapter 1 1 Briefly describe the term operations management The management of system or processes that create goods and or provide

Chapter 1.docx - Chapter 1 1 Briefly describe the term...

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Chapter 1 1. Briefly describe the term operations management. The management of system or processes that create goods and / or provide services. These processes involve the planning, coordination, and execution of all activities within an organization that create goods and services 2. Identify the three major functional areas of business organizations and briefly describe how they interrelate. Operations - Take market requirement/demand from marketing and translate them into schedules that will then be given to the finance department to assess financial resources needed Finance - Responsible for obtaining financial resources and allocation of those resources throughout the organization. Responsible for budgeting, financial analysis, etc. Marketing - Responsible for assessing customer requirements/demands and translating them into products/good that the organization can produce/deliver. Analysis is sent to operations for scheduling and production plans 3. Describe the operation function and the nature of the manager’s job. The operations function consists of all activities that are related directly to producing goods or providing services. It is the core of most business organizations because it is responsible for the creation of an organization's goods or services. Its essence is to add value during the transformation process (the difference between the cost of inputs and value and price of outputs). 4. List five important differences between goods production and service operations: then list five important similarities Among the important differences between manufacturing and service operations are: a. The nature and consumption of output. b. Uniformity of input. c. Labor content of jobs. d. Uniformity of output. e. Measurement of productivity.
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Similarities - Need good process management Forecasting and management of capacity is equally important Controlling of costs and productivity Supply chain management plays vital role Controlling variations 5. Briefly discuss each of these terms related to the historical evolution of operations management: a. Industrial revolution The Industrial Revolution began in the 1770s in England, and spread to the rest of Europe and to the U.S. in the late eighteenth century and the early nineteenth century. A number of inventions such as the steam engine, the spinning Jenny, and the power loom helped to bring about this change. There were also ample supplies of coal and iron ore to provide the necessary materials for generating the power to operate and build the machines that were much stronger and more durable than the simple wooden ones they replaced.
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