As the U.S. economy has changed from a goods producer to a service provider, the predominance of the manufacturing sector has declined substantially over the last sixty years. Today, only about 9 percent of U.S. workers are employed in manufacturing, in contrast to 30 percent in 1950. Most of us now hold jobs in the service sector, which accounts for 77 percent of U.S. gross domestic product. Wal-Mart is now America’s largest employer, followed by IBM, United Parcel Service (UPS), McDonald’s, Read More
Introduction to Operations Management
Operations management is the management of processes that transform inputs into goods and services that add value for the customer. The Goal of Operations ManagementThe goal of operations management is to maximize efficiency while producing goods and services that effectively fulfill customer needs. Countless operating decisions must be made that have both long- and short-term impacts on the organization’s ability to produce goods and services that provide added value to customers. If the Read More