a function or system that transforms inputs into outputs of greater value
Operations
a series of activities along a value chain extending from
supplier to customer activities that do not add value are superfluous and should be
eliminated
Transformations process
design, operation, and improvement of productive systems
operations management
as in manufacturing operations
as in transportation operations
as in retail operations
as in health care
as in entertainment Informational: as in communication
Physical
Locational
Exchange
Physiological
Psychological
As an auditor you must understand the fundamentals of operations
management
Accounting