Assigned readings 2

• Operations management focuses on carefully managing the processes to produce and distribute products and services.
• Operations management often includes substantial measurement and analysis of internal processes.
• The nature of how operations management is carried out in an organization depends very much on the nature of the products or services in the organization, for example, agriculture, mining, construction, or general services.
• Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services.
• Marketing Cookies enable a more personalized experience.
• Marketing Cookies enable us to compare performance across our marketing campaigns.
• A product is a tangible offering to a customer, whereas a service is an intangible offering.
• Marketing Cookies are never used for remarketing.
• Marketing Cookies can be used for retargeting on other partner platforms.
• Marketing Cookies are used to monitor the performance of marketing campaigns.
• Marketing Cookies are used for individual targeting.
• A product usually involves a one-time exchange for value, while a service usually involves a longer period of time.
• The value of a product is inherent in the tangible offering itself, for example, in the can of paint or a pair of pants.
• An automated teller machine (ATM) can provide comfort and potentially increase revenue for a business.
• A vision statement is a guiding light for a business, illuminating its path forward.
• Selecting the best tax software tailored to the unique needs of small businesses is pivotal in optimizing financial management.
• Venture capital is a crucial aspect of business financing.
• Creating a well-crafted resume is crucial in today’s competitive job market and makes the difference in getting your dream job.
• Is an ATM profitable for your business? This comprehensive guide explores the ins and outs of owning an ATM, the different sectors you can venture into, and the advantages and disadvantages of each remuneration method.
• Finding the right tax software can streamline the tax compliance process, saving valuable time and resources.
• The value of a service often comes from the eventual benefit that the customer perceives from the time while using the service.
• The customer often judges the value of a service based on the quality of the relationship between the provider and the customer while using the service.
• Scheduling has a major impact on the productivity of the system.
• There must be a very careful balance between the size of the inventory of items compared to the actual rate of their sales.
• Scheduling is a critical activity in ensuring that the operations system is highly effective and efficient, coordinating the timing of activities to organize, monitor, and optimize the equipment, people, and production activities.
• Inventory management is a part of supply chain management that oversees the inventory items from manufacturers to storage to where they are sold.
• Service design is the activity of planning and organizing people, infrastructure, communication and material components of a service in order to improve its quality and the interaction between the service provider and its customers.
• An alternate definition of quality control is “the operational techniques and activities used to fulfill requirements for quality.
• Quality control can be defined as “part of quality management focused on fulfilling quality requirements.”
• Supply chain management (SCM) is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage.
• Production planning is a detailed map of the activities required to obtain, assemble, integrate, and test the product or service before it is provided to customers.
• Production scheduling approaches for operations management include supplier scheduling, capacity planning, and material requirements planning.
• There are certain differences between manufactured goods and services, including that services can have simultaneous (in the moment) production and consumption, are perishable (there is no inventory management), ownership (ownership of the service is not owned by the customer) and tangibility (it is difficult to evaluate).
• These features make operations management more of a challenge in services.
• Productivity: A Practical Handbook distinguishes between three factors that drive productivity, not all of them around employee productivity, including: job-related, resource-related, and environment-related.
• The Handbook provides a comprehensive overview of the many different methods to improve productivity.
• For the Category of Operations Management, related topics include free, online resources.
• The cost of Google Ads can vary depending on the industry, competition, and campaign goals.
• Crafting a resignation letter that leaves a positive mark is important.
• Operations Management includes metrics on efficiency and effectiveness.