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PART ONE CHAPTER ONE PRODUCTION AND OPERATIONS MANAGEMENT INTRODUCTION •Chapter One •Production and Operations Management •Chapter Two •Productivity, Competitiveness, and Strategy Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 1999 © 1-2 Irwin/McGraw-Hill The McGraw-Hill Companies, Inc., 1999 CHAPTER ONE PRODUCTION AND OPERATIONS MANAGEMENT Operations Management Operations function consists of all activ ities directly related to producing goods or providing services. Organization Finance Production/ Marketing Operations Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 1999 1-3 CHAPTER ONE PRODUCTION AND OPERATIONS MANAGEMENT Business Operations Overlap Production/ Operations Marketing Finance Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 1999 1-4 CHAPTER ONE PRODUCTION AND OPERATIONS MANAGEMENT Types of Operations Operations Examples Goods Producing Farming, mining, construction, manufacturing, power generation Storage/Transportation Warehousing, trucking, mail service, moving, taxis, buses, hotels, airlines Exchange Retailing, wholesaling, banking, renting, leasing, library, loans Entertainment Films, radio and television, concerts, recording Communication Newspapers, radio and television newscasts, telephone, satellites Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 1999 1-5 CHAPTER ONE PRODUCTION AND OPERATIONS MANAGEMENT Value-Added • The difference between the cost of inputs and the value or price of outputs. Value added Inputs Outputs Land Transformation/ Labor Conversion Goods Capital process Services Feedback Control Feedback Feedback Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 1999 1-6
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