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Questions and Answers
process of transforming inputs into outputs.
process of transforming inputs into outputs.
Operations Management
are the resources used to create outputs such as labor, materials and capital.
are the resources used to create outputs such as labor, materials and capital.
Inputs
are the goods or services
are the goods or services
OUTPUT
Flashcards
Operations Management
Operations Management
The process of turning inputs into outputs.
Inputs
Inputs
The resources used to create outputs (labor, materials, capital).
Outputs
Outputs
The goods or services produced.
Study Notes
Transformation Process
- Involves converting inputs into outputs, a fundamental concept in production and operations management.
- Includes several stages such as input sourcing, production, and final output delivery.
Resources for Outputs
- Labor: Human resources involved in the production process, encompassing both skilled and unskilled workers.
- Materials: Raw ingredients and components required for creating the final product; varies by industry.
- Capital: Financial resources and tools/machinery necessary to facilitate production processes.
Characteristics of Outputs
- Outputs can be classified into goods and services.
- Goods: Tangible products that can be touched, seen, and stored.
- Services: Intangible offerings that provide added value to consumers, such as expertise or experience.
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