Introduction To Operations Management Essay Example

services. Accounting handles financial information, while distribution manages the movement and storage of inputs and outputs.

Engineering is in charge of product and service design and production methods. Finance focuses on capital asset securing and investment. Human resources, or personnel, hires and trains employees. Marketing generates demand for the company's output. It is important to note that not all organizations need all of these functions.

Other organizations may save money by contracting for a function, such as legal services or engineering, as needed, rather than maintaining an in-house department. In small businesses, the owners might manage one or more functions, such as marketing or operations, themselves.

III. Managing Change Change is inevitable and most project managers deal with more than their fair share of it on any project. Many tend to view change as problems or negative consequences.

Change can have both negative and positive consequences within an organization. When implementing change, there are four key factors for success:

• Pressure for change - senior management commitment is crucial.
• A clear, shared vision - involving everyone in the organization and having a common agenda that benefits all is necessary.
• Capacity for change - providing resources such as time and finance.
• Action and performance - following the "plan, do, check, act" approach and maintaining open communication channels are important.

Project managers need to consider three elements of change management. The first element involves determining the project manager's authority to approve or deny changes impacting the project. The second element requires establishing an environment that facilitates effective change

management by communicating expectations to the project team. Lastly, implementing a system for requesting and tracking changes allows for informed decision-making regardless of approval or denial.

Operations and strategy

Developing a customer-driven operations strategy starts with market analysis, which categorizes the firm’s customers, identifies their needs, and assesses competitors' strengths.

This analysis is done alongside an analysis of the external environment. After that, the firm formulates its corporate strategy, which outlines the organization’s overall goals.

Once the firm has determined its target customers, it must develop its competitive priorities. These priorities are the capabilities and strengths that the firm needs to possess in order to meet customer demand.

In essence, operations strategy connects long- and short-term operations decisions to the corporate strategy. Continuous cross-functional interaction is necessary in implementing operations strategy - as well as any other functional strategy.

The long-range business plan is a comprehensive strategy that outlines the necessary steps to succeed in global markets. World-class producers confidently invest in various aspects of their business thanks to their well-planned long-term approach. These investments include personnel training, market development, new product/service development, advanced production processes, and research and development. By making these investments, world-class producers can take advantage of the opportunities outlined in their business plans. Specifically, they prioritize several key factors:

• Speeding up the introduction of new products/services to the market
• Being recognized for high-quality production
• Achieving high labor productivity and low production costs
• Prioritizing customer needs and customization
• Maintaining minimal excess inventory
• Having a global mindset when it comes to marketing and sourcing supplies
• Embracing new technologies quickly and effectively
• Being open to strategic alliances and joint ventures for global growth opportunities
• Considering relevant social issues when establishing strategies.

+