"Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations..."
The process of overseeing and optimizing the day-to-day operations of a business.
Business process design and modeling: The study of how to design, model and optimize business processes, in order to reduce costs, improve efficiency and increase customer satisfaction.
Quality management: The study of how to manage quality in operations, including quality control, quality assurance and continuous improvement, to ensure that products and services meet or exceed customer expectations.
Project management: The study of how to plan, organize, execute and control projects, in order to achieve specific goals and objectives, on time and within budget.
Supply chain management: The study of how to manage the flow of goods and services from suppliers to customers, in order to maximize profitability and minimize cost.
Lean management: The study of how to eliminate waste in operations, reduce lead times, and increase value for customers, employees, and stakeholders.
Six Sigma: A methodology used for process improvement focusing on reducing variability and eliminating defects in products and services.
Inventory management: The study of how to manage inventory levels, reorder points, and safety stocks, in order to optimize the balance between costs and customer service.
Capacity planning: The study of how to forecast demand, plan resources, and optimize capacity utilization, in order to ensure that operations can meet customer needs.
Workflow analysis: The study of how to analyze workflows and identify bottlenecks, in order to streamline operations and increase efficiency.
Facilities management: The study of how to manage facilities, including layout, design, maintenance, and security, to support efficient and effective operations.
Performance measurement: The study of how to develop and implement performance metrics, in order to assess and improve the performance of operations.
Risk management: The study of how to identify, assess, and manage risks associated with operations, including risk mitigation and contingency planning.
Sustainability: The study of how to integrate environmental and social considerations into operations, in order to minimize negative impacts and promote long-term sustainability.
Operations strategy: The study of how to develop and implement an operations strategy, in order to align operations with the overall strategy of the organization.
Technology and operations: The study of how technology can be used to improve operations, including the implementation of new tools, software, and hardware to support operations.
Production Operations Management: This is the process of managing the production of goods and services. This type entails effective acquisition of materials, tools, and labor, developing manufacturing processes, and assessing quality control.
Service Operations Management: This is the process of managing services provided by entrepreneurs to clients. This type involves resource planning, workforce management, and budgeting to offer satisfactory services to customers.
Project Operations Management: This type requires management of a unique and defined task. Project management includes planning, execution, monitoring, and controlling the project to meet its objectives.
Inventory Operations Management: This type involves managing the inventory of finished goods and work in progress in a business. It ensures the availability of goods and aims to reduce wastage and avoid stock shortages.
Supply Chain Operations Management: This type refers to a sequence of interconnectivity activities involved in the production and delivery of goods and services to customers. It encompasses materials sourcing, product development, logistics, warehousing, and delivery.
Quality Operations Management: Quality Operations Management ensures that goods and services provided by entrepreneurs to clients meet the set standards. The process involves monitoring and measuring quality control measures to optimize customer satisfaction.
Facility Operations Management: This type involves managing the operations of premises and facilities required in the production of goods and services. It includes planning, executing, and supervising activities within the facility to maintain optimal productivity.
Sales Operations Management: This type requires developing, implementing, and monitoring sales strategies to leverage sales revenue. Sales operations management includes developing sales targets, defining sales procedures, and reporting sales activities.
Human Resources Operations Management: This type involves managing the workforce of a business. It includes recruitment, training and development, performance assessment, and ensuring compliance with labor laws.
Financial Operations Management: This type involves the management of the finances of a business. It includes budgeting, financial planning, accounting, and overseeing financial activities to ensure successful business growth.
"It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in meeting customer requirements."
"It is concerned with managing an entire production or service system which is the process that converts inputs into outputs."
"Operations produce products, manage quality and create services."
"Operation management covers sectors like banking systems, hospitals, companies, working with suppliers, customers, and using technology."
"The operations function requires management of both the strategic and day-to-day production of goods and services. In managing manufacturing or service operations several types of decisions are made including operations strategy, product design, process design, quality management, capacity, facilities planning, production planning, and inventory control."
"Each of these requires an ability to analyze the current situation and find better solutions to improve the effectiveness and efficiency of manufacturing or service operations."
"A modern, integrated vision of the many aspects of operations management may be found in recent textbooks on the subject."