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CHAPTER 9 terms

Understanding Business

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CHAPTER 9 – Producing World Class Goods and Services Traditional organizations were not designed to be sp responsive to the customer – they were designed to make goods efficiently – to make a large number of limited variety of products at a very low cost. American manufacturers have done the following to regain a competitive edge: Focus on customers Maintain close relationships with suppliers and other companies to satisfy customer needs Practice continuous improvement Focus on quality Save on costs through site selection Rely on the internet to unite companies Adopt new production techniques: enterprise resource planning, computer integrated manufacturing, flexible manufacturing and lean manufacturing Production the creation of foods and services using the factors of production (land, labor, capital, entrepreneurship and knowledge) Production management all the activities managers do to help their firms create goods Operations management specialized area in management that converts or transforms resources (including human resources) into goods and services – it’s important – the implementations phase of management Form Utility adding value utility to a product or service ; the value added by the creation of finished goods and services (such as the value added by taking silicon and making computer chips or putting services together to create a vacation package) Process manufacturing part of the production process that physically or chemically changes materials Assembly process part of the production process that puts together components Continuous process a process in which long production runs turn out finished
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CHAPTER 9 terms - CHAPTER 9 Producing World Class Goods and...

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