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Unformatted text preview: Technology, Equipment, Facilities It 1- fl ' But ......... nothing happens without People! The Importance of Studying Operations in Service. El Low productivity improvements in services are likely to make the service sector an even larger portion of the economy, even if no increase in service consumed occurs. n Managers of services need to take advantage of opportunities to rcplicate the productivity success stories of other sectors of the economy( such as farming). o How to do this? Retail queues Agricultural goods are more expensive today in real terms 25% re being consumed because of low Iroductivi Manufactured goods are more expensive today in reai terms Services are cheaper today due to productivity enhancements 9/7/2011 The Importance of Studying Operations in Service. on In 1800 more than 80% of the workforce in the U.S. was required just to feed the population, but in 2011 it required only 3% of the workforce to ' feed not only the U5. population but part of the rest of the world. :1 The reason that fewer farmers are needed is not that we are eating less. Rather, the reason lies in increased productivity, where productivity is defined as outputs/inputs. The Importance of Studying Operations Services. L'l Cost Disease in services. I It arises because, even though more services are not being consumed, the low productivity in services makes it appear as though they are. I Services have not seen productivity growth, so they cost relatively the same. .- Consequently, as a percentage of eXpenditures, services may look large, even though as an economic sector it is staying the same. Your name, Where you are from and your major. never forg -= 2 What is your earliest childhood memory? ...
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