Operations Management Flashcards
(5 cards)
1
Q
why is the relationship between operations management and business objectives important?
A
you need to have products to have a business, by managing how the business uses its inputs and other elements to produce them efficiently and effectively. therefore achieving the business objectives
2
Q
Effectiveness definition
A
Reducing costs through managing and meeting the making a profit objective
3
Q
Efficiency definition
A
Reducing how many resources are wasted.
4
Q
Things you would manage
A
Materials, Quality, waste, investments in tech
5
Q
how can it be used to help the business
A
it can improve a business’s ability to compete with its competitors by producing products at a reduced cost (making a profit and expanding the business).
