Operations Management : A critical responsibility of every manager

Operations Management : A critical responsibility of every managerAt the most fundamental level operations management is about getting day to day work done quickly efficiently without errors at low costTo make processes work in right wayAdditional feature helping companies create improvements in customer service and reduction in cost .

Operations Management : A critical responsibility of every managerTo have innovations in operationsnew and better ways of doing the day to day workManagers try to stimulate growth through technology investment, acquisitions, major market campaigns etc.Innovations in operations are relatively reliable and low cost.To out-operate the competitors by offering lower prices and better products and services

Operations Management : A critical responsibility of every managerTo craft efficient and effective operationsEfficiency means doing something at lowest possible costEffectiveness means doing the right thing to create most value for the company Often maximizing efficiency and effectiveness at the same time create conflict between the two goals.ExampleAt the customer service centre efficiency means to use lowest possible people at the counter and being effective means to minimize the amount of time customers need to wait in line

Operations Management : A critical responsibility of every managerRelated to efficiency and effectiveness is the concept of value which can be metaphorically defined as quality divided by price.If you can provide the customer with better quality product at the same price the value has gone up But if you can provide customer better quality product at lower price then value goes way up.Through operational management managers can achieve high levels of value.

Operations Management : A critical responsibility of every managerReasons to study operations management:A business education is incomplete without an understanding of modern approaches (a way of dealing with a situation or problem) to managing businessOrganisations offer some products or services With OM you are exposed to modern approaches to do this effectivelyOperational management provides a systematic way of looking at organisational processes (sequence of operations)By using analytical thinking to deal with real world problemsAnd sharpening understanding of the worldOperations Management : A critical responsibility of every managerReasons to study operations management:Operations management offers interesting career opportunitiesThe concepts and tools of OM are widely used in managing other functions of a businessMangers have to plan work, control quality and ensure productivityOf individuals under their supervisionEmployees must know how operations work to effectively perform their jobs