Operations Management studies processes, systems and networks which transform inputs of materials, labor, capital and information into products and services which customers want and are willing to pay for. These processes, systems and networks may be managed well or poorly. Knowledge introduced in this general introduction to operations management course will help you understand the reasons for both.Along with finance and marketing, operations is one of the three core functions of a firm. Finance manages the capital structure and cash flows, marketing manages customer relationships, and operations manages processes which yield products and services.Taking a process view of organizations, we identify key performance measures describing capacity and utilization, flow time and rate, variability, inventory and quality. Business cases drawn from professional services, manufacturing, health care, financial and retail sectors and a competitive on-line simulation exercise will apply the operations toolset, illustrating the uses and limitations of managerial levers to improve operational outcomes.
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