Omtqm

The processes and methods used to transform tangible inputs (raw materials, semi-finished goods, subassemblies) and intangible inputs (ideas, information, knowledge) into goods or services.

are used in this process to create an output that is suitable for use or has exchange value

uses the organization’s resources to create outputs that fulfil defined

market requirements.

This is the fundamental activity of any type of enterprise.

is increasingly important because today’s business environment requires

new thinking from operations managers

operations which process customers might change their physical properties in a similar way to materials processors

operations which process materials could do so to transform their physical properties (shape or composition, for example).

operations which process information could do so to transform their informational properties (that is the purpose or form of the information); accountants do this. Some change the possession of the information, for example market research companies sell information.

may be an input to many operations, but they are also the reason for their existence.

is responsible for planning, managing, and executing manufacturing operations.