Omgt 3123 Study guides, Class notes & Summaries

Operations Management - The planning, scheduling and control of the activities that transform inputs into finished goods and services Operations Management word - Transformation Supply Chain Management - Active management of supply chain activities and relationships to maximize customer value and achieve a sustainable competitive advantage - the conscious effort to manage the supply chain in the most efficient and effective ways possible Supply Chain Management word - Active Goods vs. Ser...

Examples of inputs to the transformation process -Materials, Intangible needs, Information How law firms handle intangibles - Major input might be need for legal advice. Law firms, through knowledge and skill, can transform this input into valuable legal advice, therefore fulfilling customer needs. Four performance dimensions - • Quality- characteristics of a product or service that bear on its ability to satisfy stated or implied needs. • Time- delivery speed and reliability. • Fle...

Operations Management - the collection of people, technology and system within an organization that has priminary responsiblility for provideing the organization's products or services Supply Chain - a network of manufacturers and service providers that work together to covert and move goods from the Raw Materials stage through to the End User Dimensions - 1. quantity to move 2. distance involved 3. time and scheduling Upstream - activities or firms that are positioned earlier in the sup...

What is a mission statement? - A statement that explains why an organization exists. It describes what is important to the organization, called its core values, and identifies the organization's domain. Operations and supply chain strategy - a functional strategy that indicates how structural and infrastructural elements within the operations and supply chain areas will be acquired and developed to support the overall business strategy Structural element - Includes tangible resources such ...

False - A mechanism that identifies a firm's targeted customers and sets time frames and performance objectives for the business is called a mission statement False - The operations and supply chain strategy is a functional strategy that is, by definition, an infrastructural strategy Computer Systems - Structural elements of a business include Conformance Quality - Whether the product was made or service performed to specifications is a question of Business Strategy - The firm's targete...

Mission Statement - statement that explains why an organization exists Operation and supply chain strategy is functional in a infrastructure strategy - False Structural Elements - include tangible resources such as buildings, equipment, and computer systems Conformance Quality - Addresses whether a product was made or a service performed to specifications Infrastructural element - the policies, people, decision rules, and organizational structure choices made by a firm Functional strateg...