MAN - -Intangible-Often unique-Produced and consumed at the...

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MAN 4504 Introduction : Operations Management is activity that creates value in the form of goods or services through the transformation process. The transformation process collectively uses inputs to create outputs involving decisions concerning planning, organization, staffing, directing, and controlling. Characteristics of a good: -Tangible -Consistent product definition -Production typically separate from consumption -Can be inventoried -Low customer interactions Characteristics of a service:
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Unformatted text preview: -Intangible-Often unique-Produced and consumed at the same time-Often knowledge based-High customer interactions-Frequently dispersed Inventory results from a mismatch between supply and demand. Mismatch reflects that capacity is more rigid than demand Operations Management provides tools to balance responsiveness with efficiency, provide tools to identify and eliminate inefficiencies, and evaluate system designs before they occur....
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