BUAD 341 1st Edition Lecture 1 Outline of Last Lecture I. MaterialsII. Course Topics and ObjectivesIII. ExamsIV. Homework AssignmentsV. Case StudiesVI. Attendance and QuizzesVII. Make-up and late work Policy VIII. Disability ServicesIX. Integrity X. Tentative TimetableOutline of Current Lecture XI. The study of operations managementXII. Goods and ServicesCurrent LectureWhy should we study operations?-Operations is an essential business function that can represent an important source of competitive advantage.-Provides a systemic approach to studying all organizational processes, regardless of function e.g. Theory of Constraints-Fundamental building block in the overall understanding of an organizationExamples of OM TasksThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Differences between services and good:-Goods are tangible (can be touched) while services are intangible (cannot be touched).-Level of customer interaction is different. Service providers have high interactions- Level of heterogeneity and variability are different. - Level of perishability and time dependence. Service is not time dependent while goods are and also perishable. Goods have to pay attention to their inventory because the more inventorythere is, the more expensive it is.-The way in which quality is designed and assessed; supporting facilities, facilitating goods, explicit and implicit services. An explicit service is a readily observable benefit or loss. An implicit service is a psychological benefit that may be only realized vaguely. -An operation can be a service and a good at the same time.-Manufacturing is making a good and a service is providing a service. You cannot patent a service.Examples:“If you drop it on your foot, it won’t hurt you.” This is a service“Services never include goods and goods never include services.” This is a false
View Full Document
Unlocking...