Operations Management revolves around the designing and managing products, procedures, services and supply chains. An essential component of Management, the OM deals with the attainment, growth, and usage of resources that companies require to hand over the goods and other significant services their clients need. The provision of Operations Management varies from strategical to tactical and functional grades. Why utilize Operations Management? Although a comparatively new arena of research is still developing, lot of businesses apply the OM as a path to intensify productiveness as well as to cut down fault. Operations Management offers firms to be more competitory by diluting unneeded cost, demanded when resources are wasted.
Operations is at the core of any business. In simple terms, operations management is the management of day to day activities of a business. In the ancient times, business was carried out in simplest way with no complications. A product was made by the seller and put up for sale. The buyer used to buy it without any further demands and modifications. But, with time, customers’ demands started to increase and this gave birth to competition. Thus, management, as a science came into existence. In the initial phase, operations management was the only function and then came marketing, finance, human resource, etc. So, Operations Management is at the core of management science.
As the time passed, operations management evolved. The concepts of operations management roots back to the time of war when the armies used to manage the operations with various tools and techniques. The businesses learned from that and started applying the same tools and techniques in management of business operations. With time, various tools and techniques came into existence which today defines modern operations management. These concepts include JIT, TQM, Kanban, Lean Manufacturing, Six Sigma, Kaizen, etc.
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Operation management is that branch of management which deals with the overseeing, designing and controlling the process of production. It involves ensuring that customer’s needs are suitably met in the minimum possible allocation of resources. The role of operation management is to efficiently overlook the process of conversion; from the input into output thus making it a key function in the business. The onus of responsibility is tremendous on the Operations team, pertaining to the fact that the chief source of revenue for any business is sales, and sales is directly related to the quality and quantity of output, which is the task in the hands of Operation management.
Operation management as a field of study has not been extensively explored yet, though many good universities offer minor and major programs in operations management. Universities offering courses in operations management focus on the global approach of the student with an aim to enable a student to stay a step ahead of company’s needs. Operation Management, in the universities, is not merely treated as an academic discipline but also as a fundamental support to an organisation, converting their strategies into reality. This is achieved by implementing the focus of the students in a process based environment and honing their skills of measuring performance at each tier. The academic bifurcation of the course diverges into several core and elective disciplines like, Supply Chain Management, Marketing Management, Service Operation, Innovation, and Environmental Issues and so on.
The key to sell in the market, is to maintain quality of the final product, people tend to buy those which are high in quality, therefore giving the Operation Management a key role in a businesses’ smooth functioning. Higher studies in this subject develop the whole perspective of the candidate so that he/she can be ready to face the ever growing market requirements.
Operation management depends on various factors directly or indirectly including finance and marketing. As we know market keeps on changing so does the operation management. So, it is mandatory to stay pace with the market scenario with all latest informations.
Following is the list of topics related to Operations Management on which we can assist you (This is not the exhaustive list):
- Inventory Management
- Supply Chain Management (SCM)
- Material Requirement Planning (MRP)
- Just In Time (JIT)
- Total Quality Management (TQM)
- Six Sigma
- Transportation Problems and Management
- Lean Manufacturing
- Operational Strategy
- Enterprise Resource Planning (ERP)
- Business Process Re-engineering (BPR)
- Game Theory
- Logistics Management