Define Operations Management.
Operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs.
Objective of Operations Management.
The objectives of operations managements are given below
- Product and services design
- Process design
- Product or service quality
- Higher Efficiency
- Maximum Return on Investment
- Maximum productivity
- Maximum utilization of resources
- Minimum production cycle time
- Minimum cash outflow
- Minimum inventory level