This report explores the importance of strategic operations management in manufacturing and non-manufacturing firms and establishes the fact that an operations strategy that is in line with the business strategy can be sustainable. …
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From this research it is clear that although OM is usually thought to be concerned with day-to-day operations of a limited number of resources and functionalities of a business, it is still an all encompassing field of study and more so in today’s fast paced business environment that demands that businesses brace up their operations strategies to face the highly competitive marketplace. While short-term goals of a business are important to be achieved in terms of efficiency and increased productivity, it is the business’s ability to achieve these results in the long-term that determines its success in the market, making it imperative that it tie its short-term efforts strategically for sustainability and profitability. Technological advancements and innovative approaches to business have constantly changed the face of the market for any business across the world, opening new avenues and options for implementing change in the way business is done. The sole focus being to increase productivity and reduce cost to attain a competitive advantage for survival in the long run. Different methodologies have been available through sets of frameworks for implementing the change strategically for operations of a firm and these will be explored and in the report. Research methodologies that are a best fit for implementing operations strategy will also be studied while exploring the concepts of soft systems methods like lean management, Six Sigma, etc. that help understand the relevance and success of operations strategy in OM....
that help understand the relevance and success of operations strategy in OM. Further, the process of OM itself will be understood with reference to the various development stages of a business in any market. 2. Defining Operations Management “OM is defined as the process of design, planning, controlling and executing operations in manufacturing and service industries” (Will et al., 2002). The management of a firm’s operations can be found to deal with a wide variety of activities including the design and management of products, services, processes and supply chains through acquisitions, development and utilization of resources at strategic, tactical and operational levels to deliver value to customer while increasing profitability for all the stakeholders of the business. OM encompasses tactical issues ranging from plant layout and structure, project management methods to equipment selection and replacement, operational issues like inventory management, process and production scheduling and controlling, quality control, and policies related to equipment handling and maintenance, etc. (MIT Sloan, 2011). 3. Strategy in Operations An operations strategy reflects what a firm does in the market and is one of the functional strategies of a firm that reflects its decisions which determine the direction of its operations. As the term operations refers to activities or functions of the firm that relate to the producing of products and services, operations strategy is well concerned with the long-term management of resources that are required to produce these products and services (Slack et al., 2010). 4. Importance of operations strategy a.
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This was reached due to the shortcomings that arose from the IPO in analysis vital information in project management. It represents how the C20 works out its operations to reach peak performance dimensions. The input sort by the organization is acquired from funds of equity from the management body, labor infused by its employees and the resources obtained, local or foreign.
The paper aims to espouse on the overall concept of operation management and describes the operational management activities utilized to realize success, in terms of capacity management in hospitality in this particular hotel.
Thus the main of the operations management is the optimization of all processes in an organization. Operations and processes Operations and processes management Operations function is basically a section of an organization responsible for producing both products and services.
United States of America (US) is a booming market in the telecom industry and it offers an excellent position for competing in a rigorous manner in the overseas markets. The knowledge, skills as well as advanced services provided by the firms of US telecommunication industry are regarded as vital assets which help in boosting up the country’s exports to the overseas markets with opening up of foreign investment and participation.
The two companies selected for the discussion in this paper are the multinational fast-food chains Mcdonald’s and KFC (Kentucky Fried Chicken). It is obvious that it is not possible for any company to focus on all the five performance objectives together, hence the paper examines performance objectives preferred by the above companies in their operations strategies.
Operation management rely more practical and scientific execution of theories and calculations rather than putting more on theoretical aspects. According to Slack (2004), any operation is concerned about production of products or processing of services. In such context, manufacturing of products raw materials, parts, practice of workers, subassemblies etc while service is pretty much intangible in nature but it needs involvement of employees who would process the service to customers.
One thing we never want to do is to spend much money for the services or for the goods either. Take for example, when one visits a restaurant; they require good quality food served to them quickly and at a cheaper price. Same to when we visit a hospital, we expect the doctor or nurse to attend to us quickly and give to us the best care.
But recently the company has started facing major operational issues that are likely to affect the business if the managers do not find effective solutions for these problems in the near future. The company should pay critical attention to improve on the operations management processes and deal with the critical factors underlying the issues in the operations management of Wal-Mart.