MEANING OF OPERATIONS MANAGEMENT

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WHAT IS OPERATIONS MANAGEMENT?

Meaning of operations management

An operation may be defined as the process of changing inputs into outputs thereby adding value to some entity.

Right quality, right quantity, right time and right price are the four basic requirements of the customers and as such they determine the extent of customer satisfaction. And if these can be provided at a minimum cost, then the value of goods produced or services rendered increases. 

Operations management is concerned with managing the resources that directly produce the organisation services and products.

The resources are generally consist of people, material, technology and information but may go wider than this. These resources are brought together by a series of processes so that they are utilized to deliver the primary service or product of the organization. 

Thus operation management is concerned with managing inputs (resources) through transformation processes to deliver outputs (service or products). 

Objectives of operations management.

1.Producing the right kind of goods and services that satisfy customers’ needs.

2.Maximizing output of goods and services with minimum resource inputs.

 3. Ensuring that goods and services produced conform to pre-set qualityspecifications. 

 4. Minimizing throughput-time- the time that elapses in the conversion process- by reducing delays, waiting time and idle time. 

5. Maximizing utilization of manpower, machines, etc.

6. Minimizing cost of producing goods or rendering a service.

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