POM Study Guide Test 1 - POM 345 Study Guide What is...

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POM 345 Study Guide What is Product Package? A combination of goods and services. It contains elements of both production and service delivery. Functions Finance - Responsible for securing financial resources at favorable prices and allocating those resources throughout the organization Marketing - Responsible for assessing consumer wants and needs and selling and promoting the organization’s goods and services Operating - Responsible for producing the goods and services offered by the organization The responsibilities of the Operations Manager? Is to guide the system by decision making- involved in product and service design, process selection and management of technology, design of work systems, location planning and quality improvement of the organization’s products and services The effect of customization on the characteristics of production output Increasing resources to achieve need to achieve design variety Increasing variety in the production process/skills Decrease in productivity Have to carry replacement parts for the variety parts Difficulty of diagnosing problems Difference between manufactured and non-manufactured goods Manufactured - are goods that have been processed in any way Non-Manufactured - are unprocessed goods How demand can be managed Demand management strategies can be used to offset capacity limitations. Pricing, promotions, discounts, and similar tactics can help to shift some demand away from peak periods and into slow periods allowing organizations to achieve a closer match in supply and demand.
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