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Management Essay

It is a vital part f any type of organization which will cover the important issues facing by operation manager. This field of study helps to discover the evaluation of the dynamic field of operation management. It will also help to gain understanding of what operation manager do effectively and efficiently as well as operation management involved in many business functions. In this regard, this report is basically consists of operation management strategy through some operational tools.

Operation management is a mix of managing people and applying sophisticated technology. It entails the design ND control of systems responsible for the productive use of raw materials, human resources, equipments and facilities in the development of a product or services. Under the above circumstances, this report consists of four major parts. The first part of the study is the objectives of operation management. In this part we try to give an overall concept about the objectives of operation management.

The second part of the study gives an importance of operation management which consists of basic rules of business that is functions, finance, operations and marketing, whether enhance deals with getting the capital and equipment to start the business, operations deals with making the product

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as well as marketing deals with selling and distributing it. The third part of the research gives an overview of the current situations of practical aspects in different industrial sectors of Bangladesh. The forth part of the study consist of industrial and economic development to the meet the world market competition.

In this part, we discussed the total economic development through industrial policy by the using of operational tools. This technique packed tit the export policy, import policy, industrial policy, telecommunication policy, energy policy, foreign exchange policy, man power and labor policy etc. The main part of our report is that we have studied during the last two weeks where the internal operational and external operational management systems involved through research planning regarding cost, quality, flexibility and time.

It includes decision-making, project management; facility layout in both manufacturing and services industries, waiting lines quality control, Just-in-time systems, forecasting, aggregate planning, inventory management, materials requirements are planning and operation scheduling. The basic responsibility of an operation manager is to produce high quality products effectively and efficiently through some operational environment, available transformational facilities etc. Operation Management is the design, operation and improvement of the production system that create the firm’s primary product or services like marketing and finance.

Operation management is a functional field of business with clear line management responsibilities. This point is important because operation management is frequently confused with operations research and management science and industrial engineering. Operation management of main business activity is the organizing and controlling of the fundamental business activity of providing goods and services to customers. Many of the developing countries have achieved quick development through industrial development. Most developed countries are industrially developed.

These development activities are maintained by production and operation management. Europe and America’s quick development came through industrial development. Many Asian countries registered quick development by achieving industrial development. Starting with Japan, Korea, Taiwan, Hong Kong and Singapore become economically developed by having quick industrialization through the direct activities of operation management. Later in late 20th century some other countries like Malaysia, Thailand, South China, Indonesia, and also Philippines developed by quick industrial development. 2.

Objectives: Operation management is the most important topic in the business world today. This report is the vital part for the organization which will cover the important issue facing by operation manager. It will address the basic tools and techniques with examples from companies. This course will help to discover the experiment of the dynamic field of operation management. It will help to gain an understanding of what operation manager do realize that operation management involved in many business factions ND learn about tools that operation manager use to make sound business decision.

An understanding of operation management strategy and its factions is a necessary part of group business education. Operation management is a mix of managing people and replying sophisticated technology. The goal is to efficiently create wealth by supplying quality goods and services. The field of operation management ranges from high tech manufacturing to high touch of services. Operations management is concerned with the efficient and effective transformation of inputs into desired outputs.

Traditionally those outputs have been understood largely in manufacturing terms and in the context of profit making organizations. Increasingly, however, it has been recognized that the disciplines of the operations manager can be deployed in objectives. For example, the public and non-profit sectors have had to learn to optimize their internal processes in the context of constrained resources; service organizations, such as insurance companies, have found that by critically re- appraising their delivery processes they can revolutionist their approach to their marketplace and manufacturing companies.

A specific example from the private sector is Deadwood, which has realized that it can differentiate its product by selling an explicit bundle of benefits, including supporting services. Operations management focuses on carefully managing the processes to produce and distribute products and services. Usually, small businesses don’t talk about “operations management”, but they carry out the activities that management schools typically associate with the phrase “operations management. ” Major, overall activities often include product creation, development, production and distribution.

Operations management is in regard to all operations within the organization. Related activities include managing purchases, inventory control, quality control, storage, logistics and evaluations. A great deal of focus is on efficiency and effectiveness of processes. Therefore, operations management often includes substantial measurement and analysis of internal processes. Ultimately, the nature of how operations management is carried out in an organization depends very much on the nature of products or services in the organization, for example, retail, manufacturing, wholesale, etc.

The specific objectives of the lessons are (1) to explain how the operations function is managed, (2) to introduce some standard tools and techniques used by operations) managers, (3) to help an appreciations for the interaction of this management activity with other management system with the organizations, (4) to introduce some new concepts in the field and (5) to provide an understanding of the field as a totality. 3. Operations objectives Operations management has an impact on the five broad categories of stakeholders in any organization.

Stakeholders is a broad term but is generally used to mean nobody who could have an interest in, or is affected by, the operation. The five ; Customers – These are the most obvious people who will be affected groups are: by any business. What the chapter goes on to call the five operations performance objectives apply primarily to this group of people. ; Suppliers – Operations can have a major impact on suppliers, both on how they prosper themselves, and on how effective they are at supplying the operation. Shareholders – Clearly, the better an operation is at producing goods and services, the more likely the whole business is to rosier and shareholders will be one of the major beneficiaries of this. Employees – Similarly, employees will be generally better off if the company is prosperous; if only because they are more likely to be employed in the future. However operations responsibilities to employees go far beyond this. It includes the general working conditions which are determined by the way the operation has been company, individuals and groups in society at large can be impacted by the way its operations managers behave.

The most obvious example is in the environmental responsibility exhibited by operations managers. After making this general point about operations objectives, the rest of the chapter goes on to look at the five performance objectives of quality, speed, dependability, flexibility and cost. Quality Quality is placed first in our list of performance objectives because many authorities believe it to be the most important. As far as this introduction to the topic is concerned, quality is discussed largely in terms of it meaning ‘conformance’.

In other words, it conforms to its specifications. There are two important points to remember when reading the section on quality as a performance objective. The external affect of good quality within in operations is that the customers who ‘consume’ the operations products and services will have less to complain about. And if they have nothing to complain about they will be happy with their products and services and are more likely to consume them again. ; Inside the operation quality has a different affect.

If conformance quality is high in all the operations processes and activities very few mistakes will be being made. This generally means that cost is saved, dependability increases and speed of response increases. This is because, if an operation is continually correcting mistakes, it finds it difficult to respond quickly to customers requests. See the figure below. [pick] Speed Speed is a shorthand way of saying ‘Speed of response’. It means the time between an external or internal customer requesting a product or service, and them getting it.

Again, there are internal and external affects. Externally speed is important because it helps to respond quickly to customers. Again, this is usually viewed positively by customers who will be more likely to return with more business. Sometimes also it is Seibel to charge higher prices when service is fast. The postal service in most countries and most transportation and delivery services charge more for faster delivery. The internal affects of speed have much to do with cost reduction.

The examples used are from manufacturing but the same thing applies to service operations. Usually, faster throughput of information will mean reduced costs. So, for example, processing passengers quickly through the terminal gate at an airport can reduce the turn round time of the aircraft, thereby increasing its utilization. Dependability Dependability means ‘being on time’. In other words, customers receive their products or services on time. In practice, although this definition sounds simple, it can be difficult to measure. What exactly is on time?

Is it when the customer needed delivery of the product or service? Is it when they expected delivery? ; Externally dependability is generally regarded by customers as a good thing. The external affects of this performance objective are to increase the chances of customers returning with more business. ; Internally dependability has an affect on cost. There are three ways which identifies costs are affected – by saving time and Hereford money, by saving money directly, and by giving an organization the stability which allows it to improve its efficiencies.

Flexibility This is a more complex objective because we use the word flexibility to mean so means ‘being able to change the operation in some way. The report identifies some of the different types of flexibility (product/service flexibility, mix flexibility, volume flexibility, and delivery flexibility). It is important to understand the difference between these different types of flexibility, but it is more important to understand the affect flexibility can have on the operation.

Externally the different types of flexibility allow an operation to fit its products and services to its customers in some way. Mix flexibility allows an operation to produce a wide variety of products and services for its customers to choose from. Product/service flexibility allows it develops new products and services incorporating new ideas which customers may find attractive. Cost The chapter makes two important points here. The first is that the cost structure of different organizations can vary greatly. Note how the different categories of cost vary in the four examples given in the chapter.

Second, and most importantly, the other four performance objectives all contribute, internally, to reducing cost. This has been one of the major revelations within operations management over the last twenty years. “If managed properly, high quality, high speed, high dependability and high flexibility can not only bring their own external rewards, they can also save the operation cost. ” 4. Operation Management Classification (a) Supply Chain Analysis and Design This classification is the decisions and strategies in designing and managing supply chains.

Concepts, techniques, and frameworks for better supply chain performance re discussed and how e-commerce enables companies to be more efficient and flexible in their internal and external operations are explored. The major content of this class is divided into three modules: supply chain integration, supply chain decisions and supply chain management and control tools. A variety of instructional tools including lectures, case discussions, guest speakers, games, videos, and group projects and presentations are employed. B) Project Management This class presents the specific concepts, techniques and tools for managing projects effectively. The role of the project manager as team leader is examined, together with important techniques for controlling cost, schedules and performance parameters. Lectures, case studies and projects are combined to develop skills needed by project managers in today’s environment. This highly interactive class which focuses on evaluating and measuring productivity in both manufacturing and service environments and on selecting, planning, and implementing measures to maximize it.

Overall strategies as well as specific techniques are studied. This class examines key productivity drivers such as new and satirical approaches to management, employee motivation/ reward systems, the role of technology as both a production environments, business process reengineering, the role of communications, the impact of capital spending, and cutting edge thinking on operations structuring and execution. (d) Service Operations Management Successful management of service organizations often differs from that of manufacturing organizations.

Service business efficiency is sometimes difficult to evaluate because it is often hard to determine the efficient amount of resources required to produce service outputs. This class introduces manager to the available techniques used to evaluate operating efficiency and effectiveness in the industrial sector. Manager gain an understanding of how to successfully manage service operations through a series of case studies on various service industries and covering applications in yield management, inventory control, waiting time management, project management, site selection, performance evaluation and scoring systems.

This class assumes some familiarity with basic probability and statistics through regression. (e) Healthcare Operations Management The Healthcare Operations is soliciting papers for presentation that contribute to the advancement of healthcare system design, operations, and improvement. Research on Operations in Healthcare can draw from diverse disciplines, such as operations and supply chain management, industrial engineering, information systems, strategy, performance management, quality, and technology management.

Diverse research methods are also welcome, including empirical, analytical, numerical, and conceptual approaches. Escalating. For example, the growth in health care spending in the U. S. Has since 1998 exceeded the growth in GAP. The last two decades have seen strong efforts to curb costs, while also attempting to reduce medical errors and improving patients’ satisfaction with the health care system. (f) Information management Information Technology (IT) has affected to operational management of business and organization. Nowadays, Information Technology affected market leading to global marketing.

Thus, markets open widely and rapidly growing. It affects executives and managers to change the strategies of management as globally because it is not only local market or domestic market emerge but also global market. Information Technology helps supporting executives, managers and decision makers to manage and control business and environment in many ways. The most common types of information technology used in business organizations are such as transaction processing systems, management information system, decision support systems.

Together these systems help executive, managers, employee in organizations accomplish both routine and decision-making process, and special task from recording sales, to processing payrolls, to supporting decision in various departments, to providing alternatives for large scale projects and opportunities. 5. Importance: Operation Management is critical importance of organization and business now a day. It is the management of manufacturing, production, and services operations.

Operation Management is diverse. It may be defined as the design, operation, and improvement of the production systems that create the firm’s primary products or services. However, the role of Information Technology (IT) is the most effective tool, strategy and technique of operation management functions and support decision- making process of operation management. Information technology is increasing in every business functions, especially in operation management function.

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