This requires extensive knowledge of internal and external conditions. Operational plans in business organizations are affected by common factors. Managers are not alone in making operational decisions; they get help from engineers and employees with technical expertise in specific work tasks.
What factors account for the resurgence of interest in Operation Management today? There are several factors in OM today to consider. In my opinion globalization is the most important aspect to consider its involves all constrains economic, political, technological, and cultural connections also involves the growth of multinational corporations businesses that have opera…tions or investments in many countries and transnational corporations businesses that see themselves functioning in a global marketplace.
Globalization has opened up broader communication lines and brought more companies as well as different worldwide organizations companies perform benchmarked and in some cases interchange experience and ideas to achieve common goals and avoid waste time in flow process no operatives.
Other factors to consider are: Quality, Customer Service and cost challenges, Rapid expansion of advanced Elements of Production and Operations Management: Furthermore, these items can be grouped and listed differently by different authors.
There are concepts like planning and organizing, and the involved conversion process. Inputs include land, labor, technology, etc. Then, there is the conversion process involved that converts inputs to outputs.
Additionally, there is another process called planning. Planning involves seeing ahead and making optimal usage of available resources. With proper planning, the controlling and organizing aspects of production and operations management become more efficient to manage.
Objectives of Production and Operations Management: The main objectives may be one of more of the following: Increased output for a given input.
Increased production using given resources. Production is more economical done at reduced cost. Good quality products at reduced cost. Increased production within a given amount of time MORE Definition of operation management and production management?
I believe that Production Management is a part of Operations Management. Operations is the bigger picture of various functions that affect the overall process and quality of an organizations services or manufacturing. Here is a definition of Operations Management that lists "production management" a…s a part of the whole.
Most people do not know what business operations entails because it tends to be a broader discipline.
Unlike project management, which has defined completion to a task; operations management deals with processes, resource allocation, and quality to run the business day to day in an efficient and effective manner.Microeconomic Factors Macroeconomic Factors; Company-specific influences that have a direct impact on its business operations and success.
Components within the control of an organization can be managed and altered. Factors affecting Inventory Operations Inventory management operations are increasingly being outsourced to third party service providers, thereby ensuring that the investments and costs in managing the inventories are reduced.
The operational plan is a section of the overall business plan that concerns how the company will operate from day to day. However, entrepreneurs and business managers must consider external.
Production and Operations Management, even though a more recent journal, A.C. Factors affecting research productivity of production and operations management groups: an empirical study.
Journal of Applied Mathematics and Decision Sciences, in press. Kelemen and Bansal, Factors Affecting Operations Management Global Competition Quality, customer service and cost challenges Rapid expansion of advanced technologies Growth of service sector Social Responsibility issues Scarcity of capital, materials etc.
Request PDF on ResearchGate | Insights into Factors Affecting Production and Operations Management (POM) Journal Evaluation | The paper extends the current literature on peer review journal.