Chapter 14 - Chapter 14: Operations Management Blackbird...

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Chapter 14: Operations Management Blackbird Guitars What is Operations Management? •Operations Management: the study and application of the transformation process •Transformation Process: The process that converts resources into finished goods and services The Operations system: Input: People, technology, capital, equipment, materials, information-> transformation process-> Goods, services. How do Service and Manufacturing Firms Differ? •Manufacturing Organizations: Organizations that produce physical goods •Service Organizations: Organizations that produce nonphysical products in the form of services What is Value? •Value: The performance characteristics, features, attributes, and other aspects of goods and services, for which customers are willing to give up resources What is Value Chain Management? •Value Chain: The entire series of work activities that add value at each step from raw materials to finished product •Value Chain Management: The process of managing the sequence of activities
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Chapter 14 - Chapter 14: Operations Management Blackbird...

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