What is the difference between goods and services? Provide an example of industr

Question

What is the difference between goods and services? Provide an example of industries or companies for each.

Identify how value is created by operations; the three types of utility.

Identify four Strategies for Attracting Customers, and identify companies or product/services that use each.

Identify the steps in Operations Planning.

Define the following types of planning: Capacity, Location, Layout, Quality, and Methods.

What are PERT and Gantt Charts? How can you use them in your project for this course?

What is TQM?

What is a Supply Chain? Select a company or industry and describe the supply chain.

Explanation / Answer

ans 1=Distinctions-Services & goods

·       Ownership cannot be transferred

When purchasing a service, its ownership isn’t transferred to the end consumer. If you purchase a fridge then the fridge is yours. But if you purchase an airline ticket , then you don’t become the owner of the airline.

·       Intangibility

Services are an intangible process which can’t be weighed / measured, on the other hand a product is a tangible output of a procedure that possess physical dimensions. A service innovation, (in contrast to a product innovation) can’t be patented

·       Quality

For products, mass manufacturing is usual. And this implies uniformity. But, services incorporate heavy amount of manual labour on account of which the quality may differ each time. Uniformity in services is an element which every service provider attempts to obtain. For instance – The chief challenge of food chains such as Pizza Hut & Dominos is to provide an identical quality over & over again.

·       Interaction with client-Services some level of interaction with the client for it to be a service. It may be a short interaction, but it must take place for the service to be completed. Where face-to-face interaction is needed, the service facility must be planned to handle the client's presence. On the other hand, products are usually manufactured in a facility separate from the consumer. They can be made as per a production schedule that is effectual for the firm.

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