According to James Moore, “Plant layout is a plan of an optimum arrangement of facilities including personnel, operating equipment, storage space, material handling equipment’s and all other supporting services along with the design of best structure to contain all these facilities”. Forecasting involving making predictions of events that will occur in the future based on past data. that are made by the production manager, who makes certain that the final product conforms to the required specifications. The operations manager manages the supply chain process by maintaining control of inventory management, the production process, distribution, sales, and sourcing of suppliers to supply required goods at reasonable prices. Modern organizations are becoming increasingly tech-dependent in order to gain a competitive advantage in the market. The nature of production or operations can be better understood by viewing the manufacturing function as : (ii) Production/operations as an organisational function, (iii) Production/operations as a conversion or transformation process and. Production, the creation of products and services, is an essential function in every firm.Production … For example, when a firm purchases materials from a supplier, the possession utility of the materials will increase when they are delivered to the buying firm. Wider scope; management of routine business activities, such as product quality, design, quantity, storage, workforce requirement, etc. To produce optimal quality at reduced price. Scheduling determines the programmer for the operations. An operations manager is tasked with ensuring that the organization successfully converts inputs such as materials, labor, and technology into outputs in an efficient manner. Production planning and control can be defined as the process of planning the production in advance, setting the exact route of each item, fixing the starting and finishing dates for each item, to give production orders to shops and to follow up the progress of products according to orders. Product design deals with conversion of ideas into reality. The conversion process may include manufacturing processes such as cutting, drilling, machining, welding, painting, etc., and other processes such as packing, selling, etc. This is created by changing the places of inputs or transporting the inputs from the source of their availability to the place of their use to be converted into outputs. An operations manager should know how to manage the fine lines with other colleagues by knowing how to communicate, listen, and relate to them on professional and personal levels. It means that the individual in charge of the department will be required to perform various strategic functions. In today’s business landscape, companies across, Certified Banking & Credit Analyst (CBCA)™, Capital Markets & Securities Analyst (CMSA)™, Financial Modeling and Valuation Analyst (FMVA)™, Financial Modeling & Valuation Analyst (FMVA)®. Operations management is a field of business that involves managing the operations of a business to ensure efficiency in the execution of projects. In this age of rapidly advancing technologies, an operations manager needs to have an affinity for technology in order to be in a position to design processes that are both efficient and tech-compliant. Quality Control (QC) may be defined as ‘a system that is used to maintain a desired level of quality in a product or service’. Production management is the field in which the principles of management are applied to the production function. (iii) Minimum possible inventory levels (i.e.,optimum inventory levels). For example, a sales presentation or an advertisement about some product communicates some information about the product to the customer, thereby imparting knowledge. Joseph G .Monks defines Operations Management … For example, a doctor or a lawyer or an engineer creates service utility to a client/customer by rendering service directly to the client/customer. Production is viewed as a system which converts a set of inputs into a set of desired outputs. Post was not sent - check your email addresses! Production and operations management mainly focus on the effective management and use of organizational resources that are needed for producing goods and services. This means that they must know how to relate with the employees, outside stakeholders, and other members of senior management. Offering the right quality of products at the right time, in the right quantity and at the right price. It distinguishes itself from other functions such as personnel, marketing, finance, etc., by its primary concern for ‘conversion by using physical resources.’ Following are the activities which are listed under production and operations management functions: Location of facilities for operations is a long-term capacity decision which involves a long term commitment about the geographically static factors that affect a business organization. Objectives of Production/Operations Management: Production/Operations as a Conversion/Transformation Process. In other words, it is the efficient use of resources to convert raw materials into value-added products. Finance: Ensuring that the company uses its resources efficiently while producing goods. It ensures that there is effective conversion of raw materials into final products. Most of the responsibilities of an operations manager involve dealing with people. Since workplaces are made up of people from diverse cultures, the operations manager needs to show tolerance and understanding to other people. To reduce companies cost through reduction of losses due to defects. Unlike the marketing or finance departments, where managers are responsible for their departments, operations management is a cross-department role where the manager assumes an array of responsibilities across multiple disciplines. To ensure satisfaction of customers with productions or services or high quality level, to build customer goodwill, confidence and reputation of manufacturer. Operations management is a field of business concerned with the administration of business practices to maximize efficiency within an organization. It involves planning, organizing, and overseeing the organization’s processes to balance revenues and costsFixed and Variable CostsCost is something that can be classified in several ways depending on its nature. Its objective is to ensure that there is optimal use of resources in an organization, so as to decrease wastage during and following the production process. If the customer is unsatisfied with the product or is complaining about certain features of the product, the operations manager receives the feedback and forwards it to the relevant departments. (iv) Maximum utilisation of all kinds of resources needed. It deals with the questions such as ‘where our main operations should be based?’. The operations manager should be able to plan, execute, and monitor each project to the end without losing focus. Following are the activities which are listed under production and operations management functions: Location of facilities: Location of facilities for operations is a long-term … Production is defined as the process of adding to the value of outputs or the process of creating utility in outputs. The definition of the two terms is discussed below, followed by the differences between them. It includes the planning, designing and supervising activities carried out while developing goods and services of an organization. This is created by changing the size, shape, form, weight, colour, smell of inputs in order to make the outputs more useful to the customers. To cut down costs through simplification, standardization, value analysis, import substitution, etc. Production control: The production manager needs to make sure that the correct production plan is being followed while goods are being produced.

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