Introduction to Operations Management

directly related to producing goods or providing services

the core of business organization

three basic functions of business organization (FMO)

elements of finance (BEP)

Management of processes or systems that create goods and services

related to securing resources at favorable prices and allocating those resources throughout the organization

_________ must be periodically prepared to plan financial requirements. Must sometimes be adjusted, and performance relative to former must be evaluated.

Evaluation of alternative investments in plant and equipment requires inputs from both operations and finance people.

the necessary funding of operations and the amount and timing of funding can be important and even critical when funds are tight.

selling and/or promoting the goods or services of an organization.