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5 Cards in this Set
- Front
- Back
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why is ops management important to business survival?
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operations account for 60-80 % of the direct expenses that burden a firms profit (lots of power and influence), better profits, better broducts and services of higher value
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operations does what in the relationship among ops, marketing, and finance?
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it translates materials and services into outputs
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goal of OM is to:
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use the least inputs to generate the needed outputs
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what are the inputs to a process that produces a product or service?
What are the outputs? |
people, equipment, facilities, materials, land, energy, knowledge, services, time, $$$
goods, services, knowledge, information |
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what is a service?
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an intangible, perishable product
output cant be inventoried high customer interaction short response time labor intensive quality not easily measured |
