Production

Production - Production the creation of goods and services....

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Production – the creation of goods and services. Characteristics of a good: 1. Tangible product 2. Consistent product definition production usually separate from consumption 3. Can be inventoried 4. Low customer interaction Characteristics of a service: 1. Intangible product 2. Produced and consumed at the same time 3. Often unique 4. High customer interaction 5. Inconsistent product definition often knowledge based 6. Frequently dispersed. Operations: facilities, production and inventory control, quality assurance control, supply chain management, manufacturing, design, industrial engineering, process analysis. Productivity= units produced/inputs used (ratio of outputs by inputs. Only measure output, not efficiency. Multi-factor productivity= output/labor+materials…. Mission statements tell an organization where it is going. Strategy tells an organization how to get there. Strategies for competitive advantage: 1. Differentiation 2. Cost leadership 3. Response Strategy development and implementation 1. Identify critical success factors 2. Build and staff organization 3. Integrate OM with other activities. 4 international operation strategies
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Production - Production the creation of goods and services....

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