BusMan Unit 3 AOS 3 Notes

Operations Management

Concerned with producing goods and services, responsible for transforming inputs into outputs.

Effectiveness

Degree to which a business accomplishes its objectives.

Efficiency

How well a business uses resources to achieve objectives.

Inputs, Transformation Process, Outputs

Elements of an operations system.

Manufacturing vs Service Businesses

Manufacturers produce tangible products, service businesses provide intangible services.

Technology in Operations

Improves processes, enhances productivity, and cost-effectiveness.

Materials Management

Strategy managing materials' use, storage, and delivery in operations.

Forecasting, MPS, MRP

Tools for materials planning in operations.

Inventory Control

Minimizes costs and ensures the right amount of inputs are available.

Quality Management

Ensures products meet customer expectations through quality control, assurance, and Total Quality Management.

Waste Minimisation

Reducing unwanted resources to improve efficiency and effectiveness.

Lean Management

Principles like pull, one-piece flow, takt, and zero defects improve operations.

Corporate Social Responsibility

Considerations for environmentally sustainable inputs and waste generation.

Global Operations

Involves global sourcing, overseas manufacture, and global outsourcing for cost-efficient inputs and production.