Introduction to Operations Management

Jul 7th, 2015
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Alhambra Medical University
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The difference between the cost of inputs and the value or price of outputs.

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IntroductiontoOperationsManagementOperations ManagementThe management of systems or processes thatcreate goods and/or provide servicesOrganizationFinanceOperationsMarketingIntroduction to OperationsManagement Operations Management includes: Forecasting Capacity planning Scheduling Managing inventories Assuring quality Motivating employees And more . . .Business Operations OverlapOperationsMarketingFinanceGoods-service continuumSteel productionAutomobile fabricationHouse buildingLow service contentRoad constructionHigh goods contentDressmakingFarmingAuto RepairAppliance repairIncreasinggoods contentMaid ServiceManual car washIncreasingservice contentTeachingLawn mowingHigh service contentLow goods contentIntroduction to OperationsManagementStage of ProductionValueAddedValue ofProductFarmer produces and harvests wheat$0.15$0.15Wheat transported to mill$0.08$0.23Mill produces flour$0.15$0.38Flour transported to baker$0.08$0.46Baker produces bread$0.54$1.00Bread transported to grocery store$0.08$1.08Grocery store displays and sells bread$0.21$1.29Total Value-Added$1.29Types of OperationsOperationsGoods ProducingExamplesFarming, mining, construction,manufacturing, power generationStorage/Transportation Warehousing, trucking, mailservice, moving, taxis, buses,hotels, airlinesExchangeRetailing, wholesaling, banking,renting

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