Operations Management: Test Questions and Answers
1. What is operations management and how is different from operations research?
Operations Management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. The operations management of any organization involves the design, operation, and improvement of the systems that create and deliver the primary products and services of the organization. From an organizational point of view, operations management might be defined as the management of the direct resources that are required to produce and deliver organizational goods and services. Operations management is an area of business that is concerned with the production of goods and services. Operations research is an interdisciplinary mathematical science that focuses on the effective use of technology by organizations.
2. What are the major factors leading to the resurgence of interest in OM today?
OM is relatively new field of research and still evolving, many businesses employ it is a way to increase productivity and reduce error. OM allows companies to be more competitive by reducing unnecessary cost involved when resources are squandered. Today the human being is constantly finding new ways to get more for less. This means an increase in productivity, or output/input. OM helps to find these ways of increasing productivity through innovations. Technological advance is another factor of resurgence of interest in OM.
Increasingly, the trend amongst 21st century industries is to offer both products and services, such as specialist programs and tools alongside consultancy, in an effort for businesses to differentiate themselves and to offer more to prospective clients. Those with operations management skills will therefore be more prepared for differentiation between planning, control and delivery of either products or services.
Operation management embodies all aspects of the business process and unites them to create an efficient resourceful procedure.
Operations Management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. The operations management of any organization involves the design, operation, and improvement of the systems that create and deliver the primary products and services of the organization. From an organizational point of view, operations management might be defined as the management of the direct resources that are required to produce and deliver organizational goods and services. Operations management is an area of business that is concerned with the production of goods and services. Operations research is an interdisciplinary mathematical science that focuses on the effective use of technology by organizations.
2. What are the major factors leading to the resurgence of interest in OM today?
OM is relatively new field of research and still evolving, many businesses employ it is a way to increase productivity and reduce error. OM allows companies to be more competitive by reducing unnecessary cost involved when resources are squandered. Today the human being is constantly finding new ways to get more for less. This means an increase in productivity, or output/input. OM helps to find these ways of increasing productivity through innovations. Technological advance is another factor of resurgence of interest in OM.
Increasingly, the trend amongst 21st century industries is to offer both products and services, such as specialist programs and tools alongside consultancy, in an effort for businesses to differentiate themselves and to offer more to prospective clients. Those with operations management skills will therefore be more prepared for differentiation between planning, control and delivery of either products or services.
Operation management embodies all aspects of the business process and unites them to create an efficient resourceful procedure.