A 150 - 300 word response to the following: Research the definitions of various production and operations management terms used in the lecture for Module 1. Perform a literature search on one of these terms. Discuss how this term can impact the ability for an operation to be competitive in the 21st century. Terms:
• Project management.
• Forecasting.
• Service and product design.
• Quality management.
• Process design and analysis.
• Capacity planning.
• Location.
• Layout design.
• Work measurement.
• Supply chain management.
• Inventory management.
• Operations Strategy and Competitiveness
• Measuring Labor and Multifactor Productivity