Lec 1 - Economic changes mirrored changes in personal goals...

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IEOR 151 Notes 8/30/2010 Team 1: Isa Cruz, Huan Guo, Michelle Leahy, Kathryn Ramp, Xi Zheng 1. What is service? a. Time perishable, intangible experience performed for a customer acting in the role of co producer b. Time perishable: Need to match supply and demand, accomplish this through: i. Capacity management ii. Demand management c. Intangible: All about ideas! i. Quality control ii. Brand name d. Experience i. Queuing ii. Demand management, e.g. give ppl discounts for non peak times at Disneyland e. Customer i. Process design ii. Revenue management (also called yield management) 2. What is the big deal? Why should we take 151? a. 78.6% of employment in the U.S. is service b.
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Unformatted text preview: Economic changes mirrored changes in personal goals Agriculture Æ industry Æ service Subsistence Æ quality of goods Æ quality of life c. Example of current service/quality of life issue: Better Place electric car battery swapping stations i. Much faster than charging battery ii. Allow vehicle owner to travel much further from home d. Examples of service industries: consulting, insurance, transportation, retail, government e. In 1850, the majority of employment was in agriculture. In 2000, the proportion of total employment is as follows: 78% service, ~20% manufacturing, and only 2 ‐ 3% agriculture....
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This document was uploaded on 02/01/2012.

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