Operations Management: Planning, Prodcuction, Inventory and Sales
Raymond Paul M. Mariano BSACT – 4C July 3, 2014 2:35-4:05 TTH
Production = The processes and methods used to transform tangible inputs (raw materials, semi-finished goods, subassemblies) and intangible inputs (ideas, information, knowledge) into goods or services. Resources are used in this process to create an output that is suitable for use or has exchange value.
Source: (http://www.businessdictionary.com/definition/production.html)
Operation = Operation transforms resource or data inputs into desired goods, services, or results, and create and deliver value to the customers. Two or more connected operations constitute a process, and are generally divided into four basic categories: (1) processing, (2) inspection, (3) transport, and (4) storage.
Source:(http://www.businessdictionary.com/definition/operations.html)
Management = The organization and coordination of the activities of a business in order to achieve defined objectives. Management is often included as a factor of production along with machines, materials, and money. Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization’s resources in order to achieve the objectives of that policy.
Source:(http://www.businessdictionary.com/definition/management.html)
Production and Operations Management = Production and Operations Management (“POM”) is about the transformation of production and operational inputs into “outputs” that, when distributed, meet the needs of the customers.
Source:http://www.tutor2u.net/business/production/pom_introduction.htm)
Production Planning and Control = Production Planning and Control are inextricably linked, and without both sides of the equation, a business may run into production challenges. Both planning and control are administrative processes that require planning and evaluation of data. To engage in production planning and control, a business has to produce or sell
Production = The processes and methods used to transform tangible inputs (raw materials, semi-finished goods, subassemblies) and intangible inputs (ideas, information, knowledge) into goods or services. Resources are used in this process to create an output that is suitable for use or has exchange value.
Source: (http://www.businessdictionary.com/definition/production.html)
Operation = Operation transforms resource or data inputs into desired goods, services, or results, and create and deliver value to the customers. Two or more connected operations constitute a process, and are generally divided into four basic categories: (1) processing, (2) inspection, (3) transport, and (4) storage.
Source:(http://www.businessdictionary.com/definition/operations.html)
Management = The organization and coordination of the activities of a business in order to achieve defined objectives. Management is often included as a factor of production along with machines, materials, and money. Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization’s resources in order to achieve the objectives of that policy.
Source:(http://www.businessdictionary.com/definition/management.html)
Production and Operations Management = Production and Operations Management (“POM”) is about the transformation of production and operational inputs into “outputs” that, when distributed, meet the needs of the customers.
Source:http://www.tutor2u.net/business/production/pom_introduction.htm)
Production Planning and Control = Production Planning and Control are inextricably linked, and without both sides of the equation, a business may run into production challenges. Both planning and control are administrative processes that require planning and evaluation of data. To engage in production planning and control, a business has to produce or sell