Introduction+to+Operations+Management+lecture+note[1] -...

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1 Introduction to Operations Management Operations management defined Operations management oversees all activities that are directly related to making a product or providing a service. Operations management is responsible for the conversion of inputs of materials, money, energy, people, and information into useful goods and services. Operations management is the design, operation, and improvement of the production system that creates the firm’s primary products and services . The transformations involved vary tremendously depending on the nature of the business. A trucking firm, for example, would involve a transformation in location. An oil refinery involves a physical transformation, where raw crude is fractionated/separated into its various components. An internet service provider such as America On Line performs informational transformations, where data is made accessible through the Web. Many companies, of course, provide multiple transformations. The oil refinery, for example, is probably operated by a vertically integrated
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This note was uploaded on 11/05/2010 for the course BUS F370 taught by Professor Tom during the Spring '10 term at Indiana Institute of Technology.

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Introduction+to+Operations+Management+lecture+note[1] -...

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