Operations Management Concepts

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Operations Management (OM)

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The development and administration of the activities involved in transforming resources into goods and services.

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Manufacturing/Production

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Activities and processes used in making tangible products; also called production.

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Operations

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The activities and processes used in making both tangible and intangible products.

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Inputs

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The resources—such as labor, money, materials, and energy—that are converted into outputs.

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Outputs

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The goods, services, and ideas that result from the conversion of inputs.

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Transformation Process

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The process through which inputs are converted into outputs in operations management.

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Standardization

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The making of identical, interchangeable components or products.

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Modular Design

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The creation of an item in self-contained units, or modules, that can be combined or interchanged to create different products.

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Customization

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Making products to meet a particular customer’s needs or wants.

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Capacity

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The maximum load that an organizational unit can carry or operate.