INTRODUCTION TO OPERATIONS MANAGEMENT

These are physical items that include raw materials, parts, subassemblies such as motherboards that go into computers, and final products such as cell phones and automobiles.

These are activities that provide some combination of time, location, form, or psychological value.

It is the management of systems or processes that create goods and/ or provide services.

A sequence of activities and organizations

involved in producing and delivering a good or service.

The difference between the cost of inputs and the value or price of outputs.

An abstraction of reality; a simplified representation of something.

It is a type of model which looks like their real-life counterparts.

1. It is a type of model which is more abstract than their physical counterparts; that is, they have less resemblance to the physical reality. 

It is a type of model which is the most abstract. They do not look at all like their real-life counterparts.

A set of interrelated parts that must work together.