The paper "Operations Management, Economic Order Quantity Model " is a perfect example of a management assignment. Operations management entails designing and management of commodities, processes, services and supply chains. It takes into account the acquisition, utilization and enhancement of resources that firms require in order to deliver goods and services demanded by clients. Operations management can also be defined as a field of management that concerns itself with overseeing, designing and redesigning business operations when producing goods and services (Stevenson, 2008). Operations management ranges from strategic to tactical and operational levels.
The concepts at the strategic level incorporate finding out the size and location of manufacturing firms, choosing service structure or networks of communications and designing supply chains of the technology. Tactical concepts incorporate the layout and structure of the plant, methods of managing a project and equipment selection and replacement. Operational concepts incorporate control and scheduling production processes, managing inventories, inspection and quality control, traffic and materials management and maintenance of equipment policies. In general, the programs of operations management incorporate instruction within the principles of general management, systems of manufacturing and production, plant management, management of equipment maintenance, production management, trade supervision, systems analysis, cost management and productivity analysis, materials planning and strategic manufacturing policy. The relevance of operations management has dramatically enhanced in recent years.
Operations management improves an organization’ s productivity. It also assists organizations to attain the competitive priorities of customers. Operation management can act as an organization’ s pillar by controlling the operation’ s system. It is an essential aspect since it can be looked at as a functional field of the business with clear management duties.
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