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12 Cards in this Set
- Front
- Back
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Productions |
The creation of goods and services. |
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Operations Management |
Activities that relate to the creation of goods and services through the transformation of inputs to outputs |
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Supply Chain |
A global network of organizations and activities that supplies a firm with goods and services |
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10 Strategic OM Decisions |
Designs of goods and services Managing Quality Process Strategy Location strategies Layout strategies Human resources Supply Chain Management Inventory Management Scheduling Maintenance |
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Services |
Economic activities that typically produce an intangible product such as education, entertainment, lodging, government, financial, and health. |
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Service Sector |
The segment of the economy that includes trade, financial, lodging, education, legal, medical, and other professional occupations |
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Productivity |
The ratio of outputs (goods and services) divided by one or more inputs (labor, capital, management) |
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Single Factor Productivity |
Indicates the ratio of goods and services produced (outputs) to one resource (input) |
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Multifactor Productivity |
Indicates the ratio of goods and services produced (output) to many or all resources (input) |
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Productivity Variables |
The three factors critical to productivity improvement: labor, capital, and the art and science of Management |
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Knowledge Society |
A society in which much of the labor force has migrated from manual work to work based on knowledge |
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Stakeholders |
Those with a vested interest in an organization, including customers, distributors, suppliers, owners, lenders, employees, and community members. |
