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What is Operation Management?
The term “operations management” describes the planning and execution of an operation within a company. Operation managers are responsible for all facets of managing operations, from production to distribution to finance. They ensure that their business has enough products or services available when needed by customers while ensuring they have assets and resources necessary for production.
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Concepts Covered in Our Operation Management Assignment Help
Tools and Techniques for Operations Management
Tools and techniques applied in operations management are either quantitative or qualitative. Quantitative tools measure results, while qualitative tools focus on understanding the underlying reasons why those results took place. The type of tool used will depend on what is needed to be analyzed.
Types of Operation Management Activities
Types of operation management activities include production, distribution, and marketing. These are the three core operational areas that need to be well managed to excel at their chosen industry niche. Production measures how many units of product were manufactured or services delivered during a certain period; distribution tracks where those products went from point A to point B, and marketing is the process of deciding which products will be distributed.
Operational Decision-Making Processes
Operational decision-making processes include forecasting, capacity management, inventory control, and quality assurance. Forecasting determines what needs to be produced for a certain period based on customer demand to meet their expectations regarding product availability or delivery date.
Capacity management ensures that production is at an appropriate level, meaning there are enough assets and resources available for the work. Inventory control helps make sure customers have what they need to buy when it’s needed by managing inventory levels in-house or with a supplier. Quality assurance checks materials and processes during their production phase to ensure quality standards are met.
Topics That Our Operation Management Assignment Help Covers
Operations strategy deals with the design and implementation of an organization’s operational system. It is concerned with planning, implementing, monitoring, and controlling the efficient and effective use of resources to provide value-for-money for customers in a sustainable manner.
Quality control deals with the quality of products and the health and safety aspects of products and production activities.
Product planning is the process of determining what products and services will be produced, how much product or service should be manufactured (if a manufacturing company), where they are to be distributed, at what price, how quickly, and in what quantities.
Sales strategy deals with figuring out which market segments an organization wants to target for sales activities.
Financial strategy deals with the long-term financial goals and plans of an organization. It focuses on assessing current performance, understanding external environments that can impact the company’s future success or failure, setting specific objectives for what should be achieved to meet those needs, creating a plan to achieve those objectives given available resources, and ensuring that the company is meeting its short-term and long-term financial goals.
Supply Chain Management
Supply chain management is the process of managing an organization’s supply chains, which includes all activities related to procuring raw materials and shipping finished products.
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