Role of Operations Management

Role of operations Management trading operations circumspection is the design operations and improvement of systems that execute and deliver a come withs products and divine divine run. In other words, is the accomplish of taking input such as raw material and voice and turning it in to out put by adding values (Shaikh, 2010). whatsoever activity that relates to the management of the entire traffic process that take forms nigh(a)s and benefits move into the operations category. Competition among todays organisations has become immense and is get tougher and tougher day by day since to a greater extent new companies argon start businesses in the same indus smack.Whether they atomic number 18 from the manufacturing sector or armed service sector, the occupy for cutting the unnecessary costs, achieving maximum efficiency, and implementing operations management strategies is increasing with the overtaking of snip. Therefore, more focus is being laid on Supply arr ange Management these days by the businesses in order to set up certain operations approaches, distribution systems, and capacity layouts that not only curve redundant costs but also provide crack lineament untroubleds and services to the nodes.This paper impart discuss two operations approaches for each(prenominal) of these sectors manufacturing and service and would relate those approaches to giftling control and efficiency that can be achieved by the businesses. Operational Approaches for Manufacturing Organization There is no wonder to hit the hay that the manufacturing organizations deal with the stock certificate much more as compargond to the service organization. The inventory implys raw materials, complementary pieces, actual or finished products, and other packing material materials in that respectfore, the two most used operational approaches for by these organizations are argument manufacturing approach and Outsourcing.Lean manufacturing is the approach t hat identifies and minimizes waste by adopting continuous improvement to assemble the customers demands. It ensures maximum quality by examining each part of the good after its production to identify the flaws that might be on that point (Blacharski, 2010). Second approach is outsourcing where the organizations that are not efficient enough in producing a certain product or material, assigns that production task to well-nigh other company, entity, business, or vendor that actually possesses the skills, mastery, technology, and resources to produce and deliver it.Operational Approaches for divine service Organizations Just-in-time approach and the Balance between Degree of labor and degree of customization are the two operational approaches that are often used by the service organizations. Just-in-time or JIT system is designed and implemented in order to produce or deliver services just as they are needed. In this approach the raw material or inventory (potatoes or chicken) is de livered to the service department or facility such as, Mc Donalds eating place just at the time when it is needed.And secondly service organizations often try to suffer the balance between the degree of labor employed for the readying of services and the degree of customization based on the postulate and wants of the customers. Advantages and Disadvantages The advantages of Lean manufacturing include reduced set up times, less(prenominal) lead times, lower use of goods and services of materials, simplification of materials for easy identification, reducing wastes, standardizing operating procedures, sustaining better environment and results, good maintenance, and safe practices (Heizer & Render, 2010).Disadvantages can be excess time spent on cleaning and identification purposes, also with the use of resources and money. Advantages of outsourcing include reduction in inventory costs, reciprocity, preserve supplier commitment, better production results, and off mise en scene the lower technical expertise and capacity the company has. Disadvantages include increase in expenditure, amply production costs, and the company might not obtain desired quality or core competence. Advantages of JIT include reduction in inventory costs, shop costs, handling costs, cutting costs of quality, and improving quality.There is one major impairment that can be the stoppage of production or delivery of services if inventory is not delivered at the right time. The degree of labor and customization provides better customer satisfaction, customer loyalty, increased ordered and gross sales, less wage costs, and service variety. Disadvantages might be the increased costs in setting up new technology or method for providing unique or customized service for different customers, their maintenance costs, technology costs, and increased layoffs.In conclusion, I think this will improve my approach as in one day start my own business to deduce how operations management can be ben eficial to a wide variety of organizations, both big and small. Operations management plays a vital role in the daily functions of an organization whether the company has identified this or not. Every process that a company employs to meet its strategic goals is a result of operations management.Operations management acquired immune deficiency syndrome a company in becoming well-organized, operating more expeditiously and productively, staying combative and improving customer relations. Nationwide Business Interview I expect to learn what is fundamental to achieving and more importantly sustaining a life history and business success, particularly within a agonistic sales and merchandise environment. The most challenging task is to motivate and manage employees to get on the same page and get something planned and completed on time and within a budget.The most critical skill you need as a manager is to understand and manage through tough authoritative economic conditions, such a s planning and executing, cost-control, developing and motivating employees and communicating and managing change. To have great communication skills for sales, negotiaton and networks also leadership skills is essential in order to reach your goals. . A big part of surviving in business is about solving problems fast and efficiently. An manager needs good problem solving skills.The important trend I have undergo is and crucial is customer experiences scanning our consumer trends, you will be able to understand where your industry may be headed, or even better, shape its complaint yourself, by introducing new products and services that catch the competition off guard. The steps I take to organize my task for today is to first make a list of all tasks that you have to do. At the start of the day I select my most important items and start working on them. If a new task comes up during the day, I bear on working on the current task unless the new task is more important.When decidi ng which tasks take priority when completing a project is deciding what needs to be completed first and it depends what is critical to meet deadline. To be effective in a business crisis your communication plan must be and easy to reference document that contains decisions, action, resources and contacts you and your team will need to contain your organization in the high pressure of a crisis. Employees should always keep in mind the interests of the organization and realize the company standards are more important than the customers nterests to bend the rules.Bibliography 1. Blacharski. D. (2010). What is Lean Manufacturing. Retrieved on November 13, 2010. From http//www. wisegeek. com/what-is-lean-manufacturing. htm 2. Heizer. J & Render. B. (2010). Operations Management. Eighth edition. Pearson Education, Inc. Prentice Hall. Dorling Kindersley India Pvt. Ltd. 3. Shaikh. S (2010). Operational Approaches. Retrieved on November 8, 2010. From http//safeshaikh. com/business/supply-ch ain-management/operational-approaches/Role of Operations ManagementThis paper describes operations management and how it is utilise in the banking field. Operations management is fundamental for any business pursuit a competitive advantage in productivity. The role of operations management is to efficiently and effectively produce quality goods and services to create wealth. brink operations management is the foundation of banking. Processing daily transactions, controlling and managing trades and sales and supporting front and back officers is part of the many functions of operations management. agree to pastime, Jacobs, and Aquilano, 2006, operations management is defined as the design, operation, and improvement of the systems that create and deliver the loadeds primary products and services (p. 9). Bank operations are behind the scenes and commonly referred to back office operations because it does not get across front office sales. However a bank cannot move frontwards w ithout operations management. Thus operations strategy is vital to banking to function at its optimal level.By definition operations strategy is concerned with setting broad policies and plans for using the resources of a firm to best support its long competitive strategy (sideline, Jacobs, & Aquilano, 2006, p. 24). Typically a strategy breaks down into lead major components operations effectiveness, customer management, and product innovation. It is important that a firms strategy aligns with its kick of serving the customer. JPMorgan cut across, the bank with which I am familiar, strategizes into trio major components operations effectiveness, customer management, and product innovation.A strategy must always align with a firms mission statement to make sure goals are attained by rivet on customer service. In the banking business some of the many competitive dimensions are the following cost or price of service or product, quality, and speed. JPMorgan chase after bank is a recognized national bank that integrates competitive dimensions in business strategy. Some of the services offered are free checking accounts with fee waiver requirements.Read also Exam Operations ManagementThe starting fees are $12 a month for some checking accounts but there are fee waivers that some customers qualify for to waive the monthly fees. wholeness common fee waiver is a recurring direct cleave totaling $500 or more each month. Price is an important federal agent for some customers but quality is an even greater concern for others. Because Chase bank offers high technology banking through bustling Pay and Quick Deposit at no cost to all customers, a monthly service fee for a checking account may be less important for customers seeking convenience and quality products.The next dimension Chase focuses on is speed and delivery of online payments. Chase is dedicated to providing the best customer experience in all areas of banking, including online and mobile banking. Ch ase bank is mainly focused on customer service, which is the reason for business growth. There are three dimensions of value by which businesses differentiate themselves in the marketplace, according to Chase, Jacobs, & Aquilano, 2006. The three ways are through product leadership, customer intimacy, and operational excellence.Chase strives to keep a proportionate balance of all values to maintain the good reputation and strong name. All the competitive dimensions mentioned above are controlled and managed by back office operations. Therefore operations management is the ropiness of the banking business as a whole. It interconnects all functions of banking to maximize productivity in the most effective and efficient manner, creating wealth. Without back office operations support, JPMorgan Chase bank would not have the ability to excel in the banking business.