Production and Operations Management

Production and Operations Management - Production...

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Production Operations and Value Production Operations and Value Chain Management Chain Management
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Operations Management Operations Management The study and application of transformation processes (tactics) Transformation process The process through which an organization creates value by turning inputs (raw materials, components) into outputs (goods or services) Encompasses all types of process—those that produces products and services
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The Transformation Process The Transformation Process
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Human Capital Asset Management Human Capital Asset Management (HCAM) (HCAM) SM SM Inputs Main Transform Outputs Human Capital Physical Capital Technology
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Productivity Productivity The overall output of goods and services produced divided by the inputs needed to generate that output. Benefits of high productivity Fosters economic growth and development Increases individual wages without inflation Lowers costs and makes firms more competitive Inputs Outputs
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Value and the Value Chain Value and the Value Chain Value The performance characteristics, features and attributes, or any other aspects of goods and services for which customers are willing to give up resources. Value chain The entire series of organizational work activities that add value at each step beginning with the processing or raw materials and ending with a finished product in the hands of end users.
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Production and Operations Management - Production...

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