Operations Management

Operations management is a field of business concerned with the administration of business practices to maximize efficiency within an organization. It involves planning, organizing, and overseeing the organization’s processes to balance revenues, costs and achieve the highest possible operating profit. An operations manager is tasked with ensuring that the organization successfully converts inputs such as materials, labor, and technology into outputs in an efficient manner.

Responsibilities in Operations Management

1. Product Design. Product design involves creating a product that will be sold to the end consumer. It involves...
2. Forecasting. Forecasting involving making predictions of events that will occur in the future based on past data.
3. Supply Chain Management. Supply chain management involves managing the production process from raw materials to the...
4. Delivery Management. The operations manager is in charge of delivery management. The manager ensures that the goods...

How does operational management affect the profitability of a business?

Raises Revenue: Operational management directly influences the profitability of the business. It works on reducing the cost of operations to business by reducing the wastage of resources. Operations managers monitor every production activity and take all necessary steps for maintaining efficiency in the organization.

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