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CHAPTER 1 Introduction to Operations Management

What is the summary of Chapter 1 of operations management?
Chapter-1 explains about Operation and productivity.
The authors defines Operation management as the set of activities that creates value in the form of goods and services by transforming inputs into outputs.
The output can be goods or services.
The creation of output is called production.
What is introduction to operations management?
Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization.
Operations management is concerned with converting materials and labor into goods and services as efficiently as possible.
What are the 5 P's of operations management?
The constituents of the 5P model are: .
1) Plan, .
2) Process, .
3) People, .
4) Possessions, and .
5) Profits.
Levels of Operations Management
Operations management includes three levels: strategic, tactical, and operational.

What is the summary of Chapter 1 of operations management?