The Development of Operation Management

1196 Words3 Pages
bulb-icon

Recommended: Developing Marketing Strategies

Operation Management
Operations management refers to the management of all activities directly involved in the creation of goods/services through the conversion of inputs into output. It consists of the following process capacity planning, forecasting, inventory management, buying and maintaining material, quality assurance, motivation of employees, scheduling, and making decision on where to allocate facilities. The four functions of management include operations, marketing and finance.
Finance
The finance function accomplishesall the activities relating to acquiring resources at favorable prices and allocation of resources within the organization. Personnel involved in f the management of finance and operations cooperate by exchanging information and expertise in activities such as economic analysis of investment proposal, and provision of funds. Provision of funds refers to the funding of operations. The amount of funds for each operation and the timing of funding is influenced by the quantity of funds available within an organization, and are specifically considered when the funds are limited. Careful funding is needed to avoid the problems associated with cash-flow. Majority of the profit oriented firms obtain from the revenues they generate from selling goods and services.Economic analysis of investment proposals involves evaluating alternative investments that requires inputs from both operations and finance personnel(Heizer, 2011).
Marketing
Marketing refers to the process of finding out what people want, why they want it and the amount of money they are willing to spend in order to have what they want. Marketing involves all the mechanisms that are used to reach and convince prospective clients that you are the company of...

... middle of paper ...

...ing processes. It is the process that helps companies makes volume and timing calculation. Most of MRP is based on the software, sometime company use the existing software and make the new software based on the company wants(Heizer, 2011).
Enterprise resource planning (ERP) is a system that integrates all the departments and function across an organization into a single computer system that can serve the different department particular needs. The common functional areas covered in an ERP system are finance, accounting, and manufacturing, sales, service and customer relationship management. One of the companies that use ERP system is Coca Cola Company. This company use Genesys program which is an integrated SAP Enterprise Resource Planning (ERP) solution.

References
Heizer, J. H., & Render, B. (2011). Operations management (10th ed.). Upper Saddle River, N.J.:

Show More
Related

  • Operations Management of the Kroger Company

    2178 Words  | 5 Pages

    Operations management is essential for the survival and success of any organization. According to Heizer & Render (2011), operations management (OM) is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. Operations managers today contend with competition, globalization, inflation, consumer demand, and consistent change in technology. Managers must focus on the efficiency and effectiveness of processes such as cost, dependability, distribution, flexibility, and speed. The intent of this paper is to discuss the processes and operations management of the Kroger Company.

    Read More

  • Case Study Zara

    1022 Words  | 3 Pages

    Operations management is in regard to management about monitoring, designing and managing all process of operations in companies. Every company has its own operation strategies, so it is crucial to get more profit through reducing cost and time in operation process.

    Read More

  • Exploring Key Concepts in Operations Management

    1002 Words  | 3 Pages

    Operations management is concerned with effectiveness and efficiency within an organization. It represents the planning, scheduling, and controlling of activities that transform inputs such as materials and labor into outputs such as products and services. ("Operations Management," n.d.) As the

    Read More

  • FedEx and Operations Management

    2118 Words  | 5 Pages

    Operations management focuses on carefully managing the processes to reduce and distribute products and services. Related activities include managing purchases, inventory control, quality control, storages, logistics and evaluations. A great deal of focus is on efficiency and effectiveness of processes. Therefore, operations management often includes substantial measurement and analysis of internal processes. Ultimately, the nature of how the operations management is carried out in an organisation depends very much on the nature of products or services in the organisation, for example, retail, manufacturing, wholesale and etcetera.

    Read More

  • Operations Management: McDonald's Competitive Advantage

    3031 Words  | 7 Pages

    Operations management strategies play an important role in any organization to achieve organizational goals. An organization uses these operations strategies to maintain and control all its operations...

    Read More

  • Starbucks Coffee Operation Management

    1671 Words  | 4 Pages

    Operations management (OM) is the business function responsible for managing the process of creation of goods and services. It involves planning, organizing, coordinating, and controlling all the resources needed to produce a company’s goods and services. Because operations management is a management function, it involves managing people, equipment, technology, information, and all the other resources needed in the production of goods and services. Operations management is the central core function of every company.

    Read More

  • Information Systems And Operations Management Case Study

    1559 Words  | 4 Pages

    Information Systems and Operations Management(ISOM) is mixture of business related sections of Informational Technology and the operational/management side of businesses. According to the George Mason University School of Business page ISOM is used to teach students how to design, improve, and how to manage business processes. One side of ISOM is Information Systems, which is the gathering and transmission of data. Meanwhile operations management deals with the design and the ability to control production processes and the establishment of business operation structures.

    Read More

  • Three Basic Elements Of Operation Management In An Organization

    951 Words  | 2 Pages

    Operations are the key activities of an organization which are used for the production of goods/services. Services are tangible means these can’t be seen but you have the results i.e. these are consumed as they are produced. Products are intangible which can be seen e.g. vehicle, building etc. The operation management is concerned with the planning, organizing and controlling the process of production. The organization basically depends upon the three basic elements. The elements are marketing, finance, and operations. In the marketing the demand is raised for products/services. Then the operation management comes in form, in operations management the raw material/inputs transformed into

    Read More

  • Importance Of Operational Planning

    825 Words  | 2 Pages

    Within an organization, different types of planning are necessary to help establish the visions and goals a company has. Strategic and operational planning is essential for the success of a business. For example, Sports Authority has recently filed for bankruptcy, which is likely due to a lack of planning skills. With the addition of strategic and operational planning, the risk of going bankrupt could be significantly reduced. The many planning steps and strategies involved in these types of planning are what eventually produce the most success.

    Read More

  • Operational Planning

    1346 Words  | 3 Pages

    Operational planning is setting up procedures and processes at the lower level of the company in order to meet the overall goal of the company. There are different factors for each company that affects the operational plan and how it is laid out. The operational plan can also greatly influence the success of a company. There is a direct correlation between the operational plan and a company's strengths and weaknesses. The operational plan must also take into consideration the various opportunities open to the company as well as current trends and threats in the market. All of these factors are very apparent in the way Wal-Mart has set up its operational plan.

    Read More

  • Effective Operation Management: The Importance Of Operations Management

    880 Words  | 2 Pages

    A business needs to develop a strong operations management team to survive in modern times. A business must have an operations management team set up so that the employees can perform effectively. Communication between management and employees can affect the behavior and relations among employees within the business. An effective manager understands that organization structure and performance to achieve revenue success is built on human relations and effective business behavior that will drive the business in a competitive market. In today 's technology age, operations management is the area concerned with the efficiency and effectiveness of the operation in support and development of the firm 's strategic goals. Other areas of concern to operations

    Read More

  • Operations Management And Ethical Issue

    817 Words  | 2 Pages

    According to Aquilano, Chase, and Jacobs (2005), "Operations management (OM) is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services" (p.19).

    Read More

  • Operations Management

    752 Words  | 2 Pages

    The field obtains its definition and scope from its vision of an organization as a system. The effectiveness of the system is determined by the success with which various subsystems and components interact with each other and with the environment in which the organization operates. At the heart of successful management is the ability to draw upon the resources of many disciplines and integrate relevant principles and background information in order to define and analyze a problem. Once defined, the manager must identify alternative possible solutions, evaluate these in terms of the broader goals and values of the organization, implement the apparently dominant solution, and, finally, assess the actual consequences of the solution for the effectiveness of the organization. Operations management deals with topics such as supply chain management, p...

    Read More

  • Sustainability In Operations Management

    673 Words  | 2 Pages

    Walker, H., Klassen, R., Sarkis, J., Seuring, S. (2014). Sustainable operations management: recent trends and future directions, International Journal of Operations & Production Management, 34(5), 1-11.

    Read More

  • Management and Operations Management Theory

    1287 Words  | 3 Pages

    Operations management deals with all the operations within an organization. Activities that are included in operations management are quality control, logistics, evaluations, managing purchases, inventory control, product design and production control.

    Read More

More about The Development of Operation Management

Open Document