Operations Management
Unit 1: Introduction – Consumer Needs, Motives and Values
Operation Management (OM) is the science and art of ensuring that goods and services are created and delivered successfully to customers. Applying the principles of OM entails a solid understanding of people, processes, and technology and how they are integrated within business systems to create value.
Nature of Operations Management
The traditional management paradigm revolves around four basic functions – Planning, Organizing, Directing, and Controlling.
A significant amount of planning is involved in selecting the goods and services that an organisation offers and designing these goods and services to meet the needs of potential customers. Organizing is a function in which the synchronization and combination of human, physical and financial resources takes place. Directing initiates action and it is from here actual work starts. Finally, Controlling measures the deviation of actual performance from the standard performance, discovers the causes of such deviations and helps in taking corrective actions.
Some of the key activities that comprise the discipline of operations management include:
Understanding the needs of customers;
Using information about customers to make better decisions;
Exploiting technology to improve productivity;
Building quality into goods, services, and processes to improve business performance;
Ensuring that material flows and associated operational activities are coordinated from supplier to customer;
Creating a high-performance workplace through developing and motivating staff;
Continually learning from co-workers, competitors, customers, etc.
Operations Management in the Workplace
Every job entails some aspects of operations management. The ideas and methods of operations management will help you get things done successfully regardless of your functional area of business. As you manage accounting, human resources, or legal, financial, operations, supply
Operation Management (OM) is the science and art of ensuring that goods and services are created and delivered successfully to customers. Applying the principles of OM entails a solid understanding of people, processes, and technology and how they are integrated within business systems to create value.
Nature of Operations Management
The traditional management paradigm revolves around four basic functions – Planning, Organizing, Directing, and Controlling.
A significant amount of planning is involved in selecting the goods and services that an organisation offers and designing these goods and services to meet the needs of potential customers. Organizing is a function in which the synchronization and combination of human, physical and financial resources takes place. Directing initiates action and it is from here actual work starts. Finally, Controlling measures the deviation of actual performance from the standard performance, discovers the causes of such deviations and helps in taking corrective actions.
Some of the key activities that comprise the discipline of operations management include:
Understanding the needs of customers;
Using information about customers to make better decisions;
Exploiting technology to improve productivity;
Building quality into goods, services, and processes to improve business performance;
Ensuring that material flows and associated operational activities are coordinated from supplier to customer;
Creating a high-performance workplace through developing and motivating staff;
Continually learning from co-workers, competitors, customers, etc.
Operations Management in the Workplace
Every job entails some aspects of operations management. The ideas and methods of operations management will help you get things done successfully regardless of your functional area of business. As you manage accounting, human resources, or legal, financial, operations, supply