Differences Between Operation Management And Operations Management

Satisfactory Essays
1. Why study operations management?
Operations management is found everywhere. We encounter various goods and services produced by the transformation of inputs to outputs under the control of operations managers. Operations is a basic function along with finance and marketing. Through excellent operations wealth can be created, productivity improved and standard of living raised.
2. What is the difference between operations management and supply chain management?
The difference between supply chain and operations management is:
Operations management is involved with the interflow of departmental efficiencies within the business. The supply chain management is more involved with the interflow between the suppliers, production, and customers
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Their mission is to reach the patients as soon as possible to provide care while in route to the hospital
• Supply chain strategies Would be the services based on location, or hierarchy based on medical needs called in by 911.
Production of hybrid automobile batteries
• Operation strategy: A lean operation that supports products to market in a timely manner. Their strategy is lower costs or longer warranties as compared to other brands.
5. Describe Michael Porter’s three generic strategies.
• Cost leadership, in which the firm strives to be the low cost producer in the industry
• Differentiation, the company attempts to find a unique product or service
• Focus, where the firm seeks out specific niches in the market
6. Explain the Five Forces of Competition.
• Rivalry among competing sellers
• Potential new entrants
• Firms in other industries offering a substitute product
• Bargaining power of suppliers
• Bargaining power of buyers
7. What is the distinctive competence of the following companies? If you’re unsure of the distinctive competence, check their
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