����� a. Finance: responsible for securing financial resources at favorable prices and allocating those resources throughout the organization, as well as budgeting, ��� analyzing investment proposals, and providing funds for operations. Show
����������� b. Marketing: responsible for assessing consumer wants and needs, and selling ����������� and promoting the organizations goods and services. ����������� c. Operations: management of systems or processes that create goods and/or � provide services.
����������� ����������� Service: low percentage of goods, High percentage service, intangible ������������������������������������� ���output ����������� ����������� Manufacturing: high percentage of goods, low percentage service, ����������������������������������������� ���tangible output ����������� ����������� Differences: ����������������������� ����������� Degree of customer Contact ����������������������� ����������� Uniformity of input ����������������������� ����������� Labor contents of job ����������������������� ����������� Uniformity of output ����������������������� ����������� Measurement of productivity ����������������������� ����������� Production and delivery ����������������������� ����������� Quality Assurance ����������������������� ����������� Amount of inventory
����� What is the nature of the Operation Manager�s job? (9): The primary function ����� of the operation manager is to guide the system by decision making. He/she is the �������� key figure in the system: he or she has the ultimate responsibility for the creation ��������� of goods or provision of services.
����� The design of a production system includes long-range capacity, process ��������� selection, layout, design of work systems, and location. ����� The operations of a production system include quality control, aggregate planning, �������� inventory management, materials requirement planning, scheduling, supply chain ����� management, and project management. *See Table 1.5 for more information*
����������������� What: What resources will be needed, and in what amounts? How will ����������������������������������� ����� resources be allocated? ����������������� When: When will each resource be needed? When should the work be ����������������������������������� ����� scheduled? When should supplies be ordered? When is corrective ������������������������������������������� action needed? ����������������� Where: Where will the work be done? ����������������� How: How will the product/service be designed? How will the work be ����������������������������������� ����� done (organization, methods, equipment)? ����������������� Who: Who will do the work?
����� During the industrial revolution (1770s), goods were produced in small shops by ������ craftsmen and their apprentices. In the 18th century a number of innovations ���� substituted machine power for human power (steam engine). The development of ���������� the gauging system gave the industrial revolution a boost, reducing the need for � custom made goods. The scientific management era brought Fredrick Taylor�s ��� methods to light. He studied work methods of work to identify the best method ����������� for doing each job. His method�s emphasized maximizing output. In the early 10th ���������� century, mass production, interchangeable parts, and division of labor maximized �������� output in the automobile industry as well as others. The human relations � movement emphasized the importance of the human element in job design. �������� Managers became aware of the idea that worker motivation is critical to improve ��������� productivity.�� **See Table 1.7 on page 22 for timeline**
����� Although different organizations have different priorities, and are affected ��������� differently by trends, major trends that impact operations management are: Mostly, every organization offers either a service or product to customers. Offering high-quality services/products not only helps attract customers but also builds trust, boosts your sales, and gives you a competitive edge in the market. Certainly, ensuring the product/service offered is of high quality and value for your customers to buy is an integral aspect of every business. So, how to achieve this? How to make sure that services are offered, or products are manufactured competently? You can make it possible through operations management. No matter what the size of the industry/organization, operations management is one of the most significant components of running every business. Operations management is one of the most in-demand careers in the industry. Getting the most value out of your resources is the key to profit in every business. If you are seeking a career in operations management, it’s essential to understand the role, responsibilities, and requirements of this field. What is Operations ManagementSimply put, operations management is the administration of business activities to accomplish goals, achieve higher productivity, and maximize profitability. Operations management is the branch of management that administers the complete production timeline of a service/ product from the input stage to the finished stage, including planning, organizing, and supervising the operations, manufacturing and production processes, and service delivery to lead to the desired outcome of high-quality product/service that meets the demands of the customers. While operations management is the management and control of the functions and operations, project management is the management and control of project activities. Operations Management – A Core Aspect of Every BusinessProject management involves unique but temporary endeavours with a specific beginning and end. On the other hand, operations management involves ongoing activities of an organization that produce repetitive and long-term outputs such as supplying services or manufacturing products. Defining what is operations management for a particular field is essential as it is vital in every field. Operations management aims to ensure that the day-to-day operations are smooth, cost-effective, and well-timed while maintaining critical quality standards. Importance of Operations ManagementOperations management is the heart of any organization. Below are pointers that would explain the importance of operations management.
What is the Role of Operations ManagementOperations management constitutes diverse responsibilities, from product development to project management.
Strategies of Operations ManagementOperations management involves managing a wide range of tasks – devising strategies is of utmost importance to execute the tasks efficiently. Build Your Career in Operations ManagementManaging each and every aspect of operations of an organization efficiently is a crucial role of operations management. Operations management requires broad business knowledge, strong communication skills, and long-term thinking. Operations managers can have opportunities in several industries and need to play various roles in project management, human resources management, and budget management. There is a wide scope for skilled and qualified operations managers in both the public and private sectors. Pursuing one of the courses in project management that Emeritus India offers in partnership with the world’s top universities can be a perfect choice to gain the core management skills and knowledge to analyze and make multifaceted business decisions for an organization. With businesses leaving traditional business models and moving at an unprecedented pace towards advancing technologies, there is soaring demand for leaders with an extensive background in strategy, skills, and awareness. The operations management career outlook is positive. Gaining education to promote operational excellence by enrolling yourself in the best business-related courses in project management, certifications, diplomas, and post-graduation courses we offer in partnership with top-notch universities will drive you towards success. Which management takes care of production and services?Production management is the process of managing the conversion of production inputs (raw materials, human resources, and capital) into production outputs (the goods that a company produces).
Who is responsible for production process?A Production Manager is a professional who oversees the production process and coordinates all activities to ensure enough resources on hand. They can plan workers' schedules, estimate costs and prepare budgets to ensure workflow meets required deadlines.
What is goods and services in operations management?Goods are tangible items offered to the customers. Services are intangible items offered to serve customers. Further, a company deals with goods and services for business operations.
What is production management in production management?Production management aims to monitor and improve the efficiency of activities, materials, staff resources, and budgets to produce goods. Production outcomes vary according to the industry. A production manager ensures that manufacturing stays on schedule, within budget, and achieves the desired output goals.
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