Business review

Operations management is an essential aspect of business. How do you manage your products? What are the major activities underlying the launch of a range of services? How do you manage time effectively? What certification requirements does the business have to comply with? Operations management is concerned with all of these and more.

Procurement: Choosing the right vendor can be a difficult decision, but one that you must get right, to ensure that everything else in the supply chain works smoothly. Make sure that you will receive your consignments on time and at the right place, and the right price! Locating your production units in industrial zones can help you avail of several benefits such as subsidized rates for transportation and electricity, tax set-offs and more .

Manpower: The management is responsible for uninterrupted conduct of day to day business. Various mechanisms such as delegation, evaluation and compensation, can be utilised to set standards. Delegate responsibilities according to skill levels, follow a set pattern for evaluating performance and outline a compensation scheme accordingly. Design appropriate policies to ensure safety, a comfortable atmosphere and basic etiquette at work.

Production: Operations management does call for innovation at times. Production strategy can vary from time to time, and must be in tune with market realities – therefore, operations management must be geared to support production decisions such as making more of a standard product or creating a fresh one to acquire a bigger stake in the market.

Quality: You have to be sure that you make no compromises on quality and also that it shows. Certify your products and techniques with the latest in quality standards and employ the best quality management techniques available. In this context, you might like to read our articles on quality control titled “Quality Control Circle”, and “Six Sigma Training”. “Operations Management: Quality and Competitiveness in a Global Environment” by Roberta Russell & Bernard W. Taylor, can also tell you more.

Inventory: Managing unutilized stock and maintaining an optimal level of the same, is yet another challenge faced by operations management personnel. Planning a base stock of raw material which can meet any expected or unexpected increase in demand, and optimizing the inventory build up of your firm are some critical aspects. There are different techniques to manage your inventory; look up our article on “Just-In-Time Inventory System” for more details.

Logistics and transportation: How do you ensure that your materials are available at the optimum price, in time and at the right place? You need an effective logistics and transportation management strategy in place, as detailed in our article on “Logistics Management”. Yet another useful resource is “Strategic Logistics Management” by James R. Stock & Douglas M. Lambert, .

Facilities management: Managing the upkeep of your office and other premises is a full time activity. The facilities must be managed, and offices must be well lit and adequately equipped. A number of gadgets can be employed to make life easier. Read “Facilities Management” by K. Alexander, for more ideas.

Operations management is an integral aspect of running your business. As you can see, it touches almost every activity, so you need to make it a top priority at work!

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Article Source: ArticlesBase.com - Operations Management: be a Smooth Operator