Operations Management Midterm (BA 357)

Operations Management
The systematic design, direction, and control of processes that transform inputs into services and products for internal, as well as, external customers.
Process
Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers.
Operation
A group of resources performing all or part of one or more.
Supply Chain
An interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers.
Supply Chain Management
The synchronization of a firm’s processes with those of its suppliers and customers to match the flow of materials, services, and information with customer demand.
External Customers
A customer who is either an end user or an intermediary (e.g., manufacturers, financial institutions, or retailers) buying the firm’s finished services or products.
Internal Customers
One or more employees or processes that rely on inputs from other employees or processes to perform their work.
External Suppliers
The businesses or individuals who provide the resources, services, products, and materials for the firm’s short-term and long-term.
Internal Suppliers
The employees or processes that supply important information or materials to a firm’s processes.
Nested Process
The concept of a process within a process.