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Chapter 5: Operations Management > CHAPTER HIGHLIGHTS

CHAPTER HIGHLIGHTS

  1. Operations Management (OM), or “operations,” is the business function responsible for producing a company's goods and services, in an efficient and cost effective way. It is the function responsible for transforming a company's inputs, obtained by the sourcing function, into the finished goods or services, which marketing sells to final customers.
  2. The operations function performs the transformational role of the organization. It has evolved from being a strictly production function to having a strategic organizational role.
  3. OM involves making many varied decisions. These include product and process design, quality management, inventory management, facility layout and location, and scheduling. Competitive bidding and negotiation are two different methods used to reach agreement and develop contracts with potential suppliers.

  

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