Operations Management Rev for SU 1 & 2
SU 1 Chapter 1 <Introduction to OM> - define OM OM are activities that relate to the creation of goods and services through the transformation of inputs(resources that the firm employ) into outputs(finished goods/services performed). - describe process of value creation by transforming inputs into outputs This transformation process (from input to output) also brings about a creation of value. where the finished goods or service performed brings about a greater value to the customer. - differences between goods and services from OM perceptive GOODS good can be defined as a tangible product that is something that you can touch such as your mobile phone. goods possess a unique set of characteristics, such that you can define goods easily and its specification is consistent throughout. example: mobile phone is capable of making calls and sending text messages. what are two very basic functions which one can easily defined. production of a goods takes place priority consumption ...
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