Interpretation:The term operations management is to be defined.
Concept Introduction:
Operations management is where the overall business administration happens. In simple terms its conversion of input into a valued output. Its inputs are materials and laborswas which are transformed into goods and services.
Explanation of Solution
Operations management was called
It was only in the 18th century that it became an integral part of the business and much research and new concepts were established. Later in the ’90s, it was a separate discipline and concepts like production management, inventory management was introduced.
Some of important objectives of Operation management are Customer service and resource utilization.
In today's business scenario customer satisfaction plays a vital role in any product or service to succeed. So the objective here to provide the best service and product at the right time in the right place.
Without proper resource utilization no business can succeed, so operation management's objective is the optimal utilization of the resource and maximizes the overall operating profit of the organization.
Some of the scopes of operation management are Quality control, Location od facilities, Product design, material management etc.
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Chapter 1 Solutions
Operations Management, Binder Ready Version: An Integrated Approach
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