Operations management

Examples of Operations management in the following topics:

• Designing the Operation

  • Operations management is a strategic function in organizations that adds value to customers and allows businesses to successfully produce goods and deliver services.
  • Operations management and planning are common in industries such as the airlines, manufacturing companies, service provider organizations, the military, and government.
  • Some examples of management and planning include:
  • Operations management touches upon multiple areas of a business, from engineering and research & development, to human resources and accounting.
  • Operations management plays a key role in the success in airline companies.

• Operations Management

  • Operations management is the management of processes that transform inputs into goods and services that add value for the customer.
  • Operations management is the management of processes that transform inputs into goods and services that add value for the customer.
  • The goal of operations management is to maximize efficiency while producing goods and services that effectively fulfill customer needs.
  • For example, if an organization makes furniture, some of the operations management decisions involve the following:
  • Operations is one of the three strategic functions of any organization.

• Operations management provides competitive advantage!

• What is operations management?

  • Operations management is the management of processes that transform inputs into goods and services that add value for the customer.
  • The goal of operations management is to maximize efficiency while producing goods and services that effectively fulfill customer needs.
  • For example, if an organization makes furniture, some of the operations management decisions involve the purchasing of wood and fabric, the hiring and training of workers, the location and layout of the furniture factory, and the purchase of cutting tools and other fabrication equipment.

• A Study of Process

  • Operations management transforms inputs (labor, capital) into outputs (goods and services) that provide added value to customers.
  • The two 3M examples of Magic Tape and VHS tape show how important the transformation process and operations management can be to providing and protecting an organization's competitive advantage.
  • Operations management transforms inputs (labor, capital, equipment, land, buildings, materials and information) into outputs (goods and services) that provide added value to customers.
  • The two 3M examples of Magic Tape and VHS tape show how important the transformation process and operations management can be to providing and protecting an organization's competitive advantage.
  • Analyze the importance of operations management in protecting an organization's competitive advantage

• Introduction

  • understand three of the most important operations management practices: Total Quality Management, Supply Chain Management, and Just-in-Time/Lean Operations

• Organizational issues

  • This Account Manager would report to the Sales Manager.
  • The new company structure features two other key management positions, an Operations Manager and an Office Manager.
  • Sales: includes the Sales Manager, the account managers and estimators.
  • Operations: includes the operations manager and the field crews.
  • Operations' primary task is to meet the needs of the Account Manager and the needs of the Office Manager with respect to information required to process invoices and payroll.

• Information and Risk Trade-Off

  • IT risk management can be viewed as a component of a wider enterprise risk management (ERM) system.
  • Some organizations have a comprehensive enterprise risk management methodology in place.
  • IT risk transverses all four of the aforementioned categories and should be managed within the framework of enterprise risk management.
  • Risk appetite and risk sensitivity of the whole enterprise should guide the IT risk management process.
  • ERM should provide the context and business objectives on the management of IT risk.

• Day-to-Day Needs

  • Operating cash flow refers to the daily cash inflows and outflows generated from business revenues earned, excluding certain costs.
  • Operating cash flow refers to the amount of cash a company generates from the revenues it brings in, excluding costs associated with long-term investment on capital items or investment in securities.
  • Cash flow forecasting or cash flow management is a key aspect of the financial management of a business, because planning for future cash requirements can help to avoid a liquidity crisis in the business.
  • As a result, it is essential that management forecast (predict) what is going to happen to cash flow to make sure the business has enough to survive.

• Inventory Management

  • Inventory management tracks the shape and percentage of stocked goods.
  • Inventory management addresses a number of concerns, including: replenishment lead time; carrying costs of inventory; asset management; inventory forecasting; inventory valuation; inventory visibility; future inventory price forecasting; physical inventory; available physical space for inventory; quality management; replenishment; returns and defective goods; and demand forecasting.
  • By effectively managing these issues, a business can achieve optimal inventory levels.
  • Operational: Sourcing planning, including current inventory and forecast demand, done in collaboration with all suppliers; inbound operations, including transportation from suppliers and receiving inventory; outbound operations, including all fulfillment activities, warehousing, and transportation to customers; management of non-moving, short-dated inventory and avoidance of short-dated products.
  • Inventory management is primarily concerned with specifying the shape and percentage of stocked goods.