Information about Operations Management
Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. It is also the management of resources, the distribution of goods and services to customers, and the analysis of queue systems.
APICS The Association for Operations Management also defines operations management as "the field of study that focuses on the effective planning, scheduling, use, and control of a manufacturing or service organization through the study of concepts from design engineering, industrial engineering, management information systems, quality management, production management, inventory management, accounting, and other functions as they affect the organization" (APICS Dictionary, 11th edition).
Operations also refers to the production of goods and services, the set of value-added activities that transform inputs into many outputs.[1] Fundamentally, these value-adding creative activities should be aligned with market opportunity (see Marketing) for optimal enterprise performance.
Inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business. Inventory are held in order to manage and hide from the customer the fact that manufacture/supply delay is
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APICS The Association for Operations Management also defines operations management as "the field of study that focuses on the effective planning, scheduling, use, and control of a manufacturing or service organization through the study of concepts from design engineering, industrial engineering, management information systems, quality management, production management, inventory management, accounting, and other functions as they affect the organization" (APICS Dictionary, 11th edition).
Operations also refers to the production of goods and services, the set of value-added activities that transform inputs into many outputs.[1] Fundamentally, these value-adding creative activities should be aligned with market opportunity (see Marketing) for optimal enterprise performance.
Origins
Historically, the body of knowledge stemming from industrial engineering formed the basis of the first MBA programs, and is central to operations management as used across diverse business sectors, industry, consulting and non-profit organizations.Operations Management Planning Criteria
- Control by creating and maintaining a positive flow of work by utilizing what resources and facilities are available
- Lead by developing and cascading the organizations strategy/mission statement to all staff
- Organize resources such as facilities and employees so as to ensure effective production of goods and services
- Plan by prioritizing customer, employee and organizational requirements
- Maintaining and monitoring staffing, levels, Knowledge-Skill-Attitude (KSA), expectations and motivation to fulfill organizational requirements
- Performance Measures for the measurement of performance and consideration of efficiency versus effectiveness[2]
Organizations
The following organizations support and promote operations management- Institute for Operations Research and the Management Sciences (INFORMS)
- Production and Operations Management Society (POMS) http://www.poms.org/
- The Association for Operations Management (APICS)
- Institute of Operations Management http://www.iomnet.org.uk/
- Chartered Management Institute
- European Operations Management Association (EurOMA) http://www.euroma-online.org/, which supports the International Journal of Operations & Production Management
Academic resources
- International Journal of Services and Operations Management, ISSN: 1744-2370, Inderscience
See also
References
1. ^ Operations Management: in a week, Sean Naughton, (2002) Chartered Management Institute, ISBN 0-340-84966-5
2. ^ Operations Management: in a week, Sean Naughton, (2002) Chartered Management Institute, ISBN 0-340-84966-5
2. ^ Operations Management: in a week, Sean Naughton, (2002) Chartered Management Institute, ISBN 0-340-84966-5
External links
- Institute of operations management Portal
- Production Scheduling and Planning Portal
- Advanced-Planning Systems Problem Structures, Advanced-Planning-Software.
- Chartered Management Institute
Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets
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Efficiency as a technical term may refer to:
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- Energy efficiency, useful work per quantity of energy
- Energy conversion efficiency, desired energy output per energy input
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Effectiveness means the capability of producing an effect.
In Physics, an effective theory is, similar to a phenomenological theory, a framework intended to explain certain (observed) effects without the claim that the theory correctly models the underlying (unobserved)
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In Physics, an effective theory is, similar to a phenomenological theory, a framework intended to explain certain (observed) effects without the claim that the theory correctly models the underlying (unobserved)
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APICS The Association for Operations Management, is a not-for-profit international education organization, offering certification programs, training tools and networking opportunities to increase workplace performance.
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Marketing is a social process which satisfies consumers' wants. The term includes advertising, distribution and selling of a product or service. It is also concerned with anticipating the customers' future needs and wants, often through market research.
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Industrial engineering is a branch of engineering that concerns the development, improvement, implementation and evaluation of integrated systems of people, money, knowledge, information, equipment, energy, material and process.
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Master of Business Administration (MBA) is a master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized
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The Institute for Operations Research and the Management Sciences (INFORMS) is an international society for practitioners in the fields of operations research and management science.
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APICS The Association for Operations Management, is a not-for-profit international education organization, offering certification programs, training tools and networking opportunities to increase workplace performance.
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Chartered Management Institute
Founded 1947, Royal Charter 2002
Headquarters Corby and London
Website [1]
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Founded 1947, Royal Charter 2002
Headquarters Corby and London
Website [1]
Inspiring Leaders
The Chartered Management Institute is a professional institution for managers, based in the United Kingdom...... Click the link for more information.
The International Journal of Operations and Production Management (ISSN: 0144-3577) [1] is a peer-reviewed academic journal published by Emerald Group Publishing Limited.
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APICS The Association for Operations Management, is a not-for-profit international education organization, offering certification programs, training tools and networking opportunities to increase workplace performance.
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Business process reengineering (BPR) is a management approach aiming at improvements by means of elevating efficiency and effectiveness of the processes that exist within and across organizations.
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A Contingency plan is a plan devised for a specific situation when things could go wrong. Contingency plans are often devised by governments or businesses who want to be prepared for anything that could happen.
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Capacity planning is the process of determining the production capacity needed by an organization to meet changing demands for its products.[1] In the context of capacity planning, "capacity" is the maximum amount of work that an organization is capable of completing in
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Chartered Management Institute
Founded 1947, Royal Charter 2002
Headquarters Corby and London
Website [1]
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Founded 1947, Royal Charter 2002
Headquarters Corby and London
Website [1]
Inspiring Leaders
The Chartered Management Institute is a professional institution for managers, based in the United Kingdom...... Click the link for more information.
Distribution is one of the 4 aspects of marketing. A distributor is the middleman between the manufacturer and retailer. After a product is manufactured it is typically shipped (and usually sold) to a distributor.
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Enterprise Decision Management, commonly abbreviated "EDM", entails all aspects of managing automated decision design and deployment that an organization uses to manage its interactions with customers, employees and suppliers.
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Industrial engineering is a branch of engineering that concerns the development, improvement, implementation and evaluation of integrated systems of people, money, knowledge, information, equipment, energy, material and process.
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The International Journal of Operations and Production Management (ISSN: 0144-3577) [1] is a peer-reviewed academic journal published by Emerald Group Publishing Limited.
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- For , see .
Inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business. Inventory are held in order to manage and hide from the customer the fact that manufacture/supply delay is
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For other uses, see Just In Time.
Just In Time (JIT) is an inventory strategy implemented to improve the return on investment of a business by reducing in-process inventory and its associated costs...... Click the link for more information.
Lean manufacturing is the production of goods using less of everything compared to mass production: less human effort, less manufacturing space, less investment in tools, and less engineering time to develop a new product.
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In mathematics, linear programming (LP) problems involve the optimization of a linear objective function, subject to linear equality and inequality constraints.
Put very informally, LP is about trying to get the best outcome (e.g.
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Put very informally, LP is about trying to get the best outcome (e.g.
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A
- Aggregate planning
- Agile software development
B
C
- Critical path method
- Critical chain
- Cost overrun
D
- Dependency
- Duration (project management)
- Dynamic Systems Development Method
E
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Logistics is the art and science of managing and controlling the flow of goods, energy, information and other resources like products, services and people from the source of production to the marketplace.
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Information & Operations Management
Looking at information as a crucial business resource, this is what Information management actually means. It comprises the management of IT infrastructure (software, hardware, networks) and the development and management of the organization's..... Click the link for more information.
Operational Intelligence (OI) focuses on providing real-time monitoring of business processes and activities as they are executed within computer systems, and in assisting in optimizing these activities and processes by identifying and detecting situations that correspond to
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Operational performance management is a type of Performance management that addresses the growing pressure to increase revenue while managing costs, meeting ever-evolving and expanding customer demands.
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Further reading
- Mosimann, Roland P.
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In business, the term Operational Risk Management (ORM) is the oversight of many forms of day-to-day operational risk including the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events.
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