Operations Management And Its Significance

Consider a firm with a daily demand of 100 units, a production rate per day of 500 units, a setup cost of $200, and an annual holding cost per unit of $10. Suppose that the firm operates 300 days per year. How many units of inventory must their storage area be able to hold?

Gioe Melaney is the general director of Southern Toro – a subsidiary company included in the distribution system of Toron Coporation in Galveston, Taxas.

Operations Management in an organisation is repsonsible for managing and in making decisions concerning the activities that convert inputs into outputs , that is goods and services. This covers both short term actvities as well as longer term activities to meet strategic goals. Inputs can be the raw materaials need to manufacture goods such as furniture or the computers needed to create a service like online shopping site. Operation management’s role is to make decisions to improve how operation activities function, for example, to improve the final quality of the output or to change production methods to be more efficient in terms of cost and in time.

We begin by talking about JIT and give an introduction about the concept so that all may come to terms with the basics of the same. Next we move on to the elements involved in JIT and briefly describe them one by one. Next we begin talking about the goals, benefits, and limitations of the same, giving way to the philosophy and techniques of JIT. We continue our report with the implementation steps and examples of JIT in real world scenario.

Operations management refers to all levels of an organisation and how best to efficiently convene, fund, maintain and maximise its services and/or operations, both internal and external. The core goal/objective of operations management it to maximise outputs while reducing and minimising the inputs required to achieve the desired results.

Operations Management is concerned with the managing of resources and activities that produce and deliver goods and services

Operations management (OM) is that phase of an organization where inputs are put into operations to acquire required output (services) without compromising on quality. In other words operations management is also described as combining and transforming various resources in the operations sub-system into value added services in line with formulated policies of the organization. (Kumar and Suresh, 2009)

As I entered the remaining classes in my concentration, Operations Management, I realized how each particular class subject had all come together, and how each was interrelated. Each class, each subject became more important to me as I realized their importance in the role of an operations manager.

The purpose of this assignment is to discuss and evaluate various key concepts of operations management and how each, when implemented within an organisation, can be beneficial and contribute to the improvement of its operational efficiency. (Hill, A. and Hill, T. 2011) describe operations management as being core to what organisations do, it is the process of transforming inputs which include information, people and materials into outputs such as services or products. (Slack, N, et al. 2013) states that every organisation has to have an operations function because every organisation creates in some form a service and/or a product. This in turn must mean that every organisation, in order to increase its profitability must strive towards improving the efficiency of its operations function. The key concepts that will be explored throughout this assignment are; Just in Time (JIT), Inventory Management and Supply Chain Management.

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 primary goal of the operations manager is creating happy and loyal customers. By effectively analyzing and managing their business's operations, they created the right products with the right features at the right

Operations Management involves the management of the whole framework that creates a good or delivers an item. It includes making processes more proficient and successful. Productive and successful procedures permit associations to build quality and decrease cost while keeping up or enhancing net revenues. One of the hardest choices to be made is which portions of the

The primary aim of any transformation process is to deliver value to the customer. From primary activities such as raw material acquisition and marketing to support activities such as procurement and human resource management, an organisation aims to create value for the end consumer. Transforming these operations is vital for survival in an environment characterised by stiff competition. Some of the operations

Operations management refers to the complex set of management activities involved in planning organizing leading, and controlling an organization’s operations. At one time, operations management was considered the backwater of management activities – a dirty, drab necessity. This view has changed in recent years, as more and more managers realize how operations can be a “beehive” of activity with major financial consequences for any organization. For instance, to support the work of Johns Hopkins University Hospital in Baltimore, the facilities department each year handles more than 40,000 work orders, oversees hundreds of construction projects, and manages an annual capital budget nearing $200 million. Operations management also includes

In a business, there are many important tasks a manager and his/her employee’s need to uphold too. One of the most important processes while running a business is its operations management. Operations management is the fundamentals of managing and delivering the production process of all goods and services with in the business. This refers to all the activities, responsibilities, processes, functions and activities that are dedicated to the operation functions of the facility. The sole owner of the business must ensure that all goods and services are properly accounted for. One of the most fundamental ways a manager can monitor their goods and services properly is through operations management.