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Definitions of Operations management Operations management refers to the administration of business practices to create the highest level of efficiency possible within an organization. Operations management is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization. Operations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed, and effective in terms of meeting customer requirements.…show more content…
That’s why it is required to provide them the best working environment and growth opportunities. Several programs can be implemented to encourage them to submit their own ideas and contribute to the company’s growth. A better implementation of job design can be helpful in future growth. Effective manpower planning helps in cost reduction and better working in future. www.slideshare.net SUPPLY CHAIN MANAGEMENT Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. Supply chain management involves coordinating and integrating these flows both within and among companies. To remain competitive, small firms have to offer superior quality goods at the lowest prices possible. The need to minimize product costs makes effective supply chain management vital. There are costs involved in every process of the product life cycle, and it is the responsibility of management to ensure that these costs are kept low, so the company can continue to pass along these savings to the consumer. The supply chain management helps in future to Reduced Costs Increased Efficiency Increased Output Increased Profits smallbusiness.chron.com wps.prenhall.com/wps/media/objects/4947/5066500/.../heizer_10.ppt INVENTORY
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