About This Chapter
Controlling Operations Costs in Business - Chapter Summary
You can use this set of lessons to improve your understanding of controlling operations costs in business. Take a close look at the definition of cost efficiency, and examine the elements of supply chain management. Other important information found in this chapter includes:
- Definition of cost of goods
- Analysis of cost efficiency
- Goods and services logistics
- The role of managers in productivity, quality and profitability
The lessons are short text and videos. Each includes a self-assessment quiz you can take to see how well you are retaining the material. You can easily revisit any of the video topics by referring to the written transcript or by using the timeline tool to quickly hop to specific points in the lesson.
1. Cost of Goods: Definition & Calculation
It takes money to make money. In this lesson, you'll learn about the cost of goods, what it is, what it isn't and how to calculate the costs of goods sold. You'll also have a chance to reinforce your knowledge with a short quiz.
2. Cost Efficiency: Definition & Analysis
In this lesson, we'll learn about cost efficiency. We'll also define the term and look at the two components that often make up cost efficiency: cost benefit and cost effectiveness. The lesson will conclude with a summary and a quiz.
3. Supply Chain Management: Elements & Goals
Supply chains and their efficient management may mean the difference between success and failure for a business. In this lesson, you'll learn about the elements of the supply chain and the key goals businesses seek in managing their supply chains.
4. Logistics of Goods and Services
Logistics management is essential for the proper functioning of a supply chain and for successfully serving customers. In this lesson, you'll learn about the role of logistics in supply chain management and how intermediaries can be used in the process.
5. Productivity, Quality, Profitability and the Role of Managers
Top-, mid- and low-level managers play a significant role in how productivity and quality affects profitability in an organization. Each level of management makes different decisions about productivity and quality that impact an organization's profitability.
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Other chapters within the CM Leading & Controlling Exam Study Guide - Certified Manager course
- Workplace Leadership
- Employee Motivation in the Workplace
- Managing Change in the Workplace
- Workplace Conflict
- Organizational Politics at Work
- Managing Workplace Misbehavior
- Types of Workplace Misbehavior
- Privacy in the Workplace
- Time & Stress Management at Work
- Organizational Control in Business
- Quality Management in Business
- Inventory Control in Business
- Business Accounting Fundamentals
- Financial Statements for Business
- Financial Analysis for Business
- Financial Management for Business
- CM Leading & Controlling Exam Study Guide - Certified Manager Flashcards