OPMT - Chapter 1
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24 Terms
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Definition of Operations Management
The management of systems or processes that create goods and/or provide services
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Examples of Inputs
Land, labor, capital, information
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Examples of Outputs
Goods and/or Services
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Components of the model of production systems
Inputs, Transformation, Outputs, Feedback, and Control
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What is Feedback?
Measurements taken at various points in the transformation process
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What is Control
The comparison of feedback against previously established standards to determine if corrective action is needed
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The difference between manufactured goods and service goods.
Goods are physical
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