1.

Operation management is the managing of processes that create goods or offer services while
supply chain is a procedure where the company put it in place to gather materials, to make
products and distribute them.
2. Finance - it includes collecting, obtaining, and managing the money of a business
organization
Operations – this involves the activities in producing goods or providing services.
Marketing - identifying customers and bringing them in and creates sales of the manufactured goods
or service
3. Like what I’ve said in item 2 operations function is the one who is responsible in managing processes
of goods and services and the nature of operations manager’s job is to lead his/her people in development
also, by taking responsibilities that involves financial processes, staffing etc.
4. Five important differences between goods production and service operations:
- Goods are produced before they are consumed, while in case of services production and
consumption happen at the same time.
- Goods are tangible while services are intangible.
- Goods can be stored in inventory while service cannot be stored for later use.
- Quality assurance in goods is objective and is measurable, while the same for services is very
subjective.
- Most manufactured goods can be patented while most services cannot be patented and hence
can be easily copied.
Five important similarities between goods production and service operations:
- Both goods and services need good process management.
- Forecasting and managing capacity is equally important in goods and services.
- Controlling costs and increasing productivity are both equally important in goods and services.
- Supply chain management plays a vital role in both the manufacture of goods and the delivery
of services.
- Controlling variation is also very important in both, production of goods and delivery of
services.
5. Services are important because revenue rises with good customer service, it maintains customers and
gets more value from them. Moreover, great service decreases customer conflict, also excellent customer
service helps change prospects and lessens employee turnover. Lastly, customer excellence raises your
brand profile.
Manufacturing provides the foundation for many kinds of innovations this maintains our innovative
capacity as well as necessary for trades. Also, a source of jobs, as well as the sector from which is derived
a significant portion of the nation's wealth. Likewise, this is where the national power and economic
growth depends. Finally, it increases the nation to be more productive in offering services.
Non-manufactured goods are the ones that are not produced in factory.