Exam (elaborations)
OPERATIONS MANAGEMENT TERMS EXPLAINED #14
- Course
- Institution
OPERATIONS MANAGEMENT TERMS EXPLAINED #14
[Show more]
Seller
Follow
puritywanjihia
Reviews received
Content preview
OPERATIONS MANAGEMENT TERMS EXPLAINED #141. Operations Man-
controlling resources and activities to produce a
agement
product (good or service) as efficiently and
effectively as possible
2. Efficiency how well a business uses its resources
3. Effectiveness the extent to which they achieve objectives
4. Productivity the amount of output produced compared to the
amount of input required in production. The less
inputs used to make the same or more outputs,
the more productive and efficient a business is
5. Business com- a business' superiority over rivals (or
petitiveness competitors) in the same industry
6. Inputs resources that are used to produce the business'
goods or services, such as raw materials,
equipment and labour
7. Processes the actions taken to transform inputs into outputs
8. Outputs the finished product (good/service) that is sold to
the
consumer
9. Tangible Manufacturing characteristic where goods can
be physi- cally held and touched
10. Intangible Servicing characteristic where the service
provided can- not be physically held or touched
11.Low level of Manufacturing characteristic where consumers
cus- tomer are not present during production of goods
contact
12. Standardised Manufacturing characteristic where each good
produced will be homogenous
13. Customised Servicing characteristic where services can be
1/
, OPERATIONS MANAGEMENT TERMS EXPLAINED #14
tailored to meet the specific needs and requests
of the consumer
14.High level of
cus- tomer
contact
2/
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller puritywanjihia. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62890 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now