Essay On Operations Management

What is operations management:

Operations Management is the management of the process that transforms raw materials into goods and services. It is a never ending cycle that deals with the design and management of products, services, processes and supply chains. It also takes into consideration the procurement, development, and usage of resources that industries need to deliver those final goods and services to their clients.

The stages in operations management range from strategic to tactical to operational. The strategic points involve; creating the size of manufacturing plants as well as its location, deciding on the structure of service, and designing the supply chain. The tactical points include; the plants structure and layout, the project management techniques, selection and replacement tools. The operational points involve; production, scheduling, inventory management, control and evaluation of quality, materials supervision, and equipment maintenance policies.

Background of NCB:

The National Commercial Bank (NCB) also known as Al Ahli is the first Saudi Arabian bank and the largest in the Arab world by capital. The National Commercial Bank was the first to be licensed as a private company. It was found on December 26th, 1953. It owns 90% of NCB Capital and 65% of Turkiye Finans Katilim Bankasti (TFKB), which is the leading Islamic bank in Turkey.

Operations Vision and strategic decision

NCB vision: ‘NCB is the premier financial services group in the region’.

o An organization’s vision statement defines what it wants to become, how it wants the environment in which it operates to be, and what its purpose in life is. It concentrates on the future and long term goals which help us provide a clearer vision for the deci...

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...ially for smaller businesses that rely on a quick turnover of goods..

- This determines the reorder point and manages any issues whether it was misuse, manufacturing or expiration of ATM’s.

- Banks do this by reporting the service availability by region and area on specific dates.

Conclusion

The operations’ objective in a banking industry is cash utilization in daily or seasonal situations, which should reach up to 80% and in return ensure that all business activities are carried out in an efficient and effective way. This assures the appropriate management is executed once a trade has been finished, as well as to control daily processes and create new systems to increase the profitability for the bank. We took the example of the ATM machine, which reduced the face to face interaction between employees and customers, and led to less time for faster transactions.