Key Concepts Of Operations Management Essay - 1573 Words

The purpose of this assignment is to discuss and evaluate various key concepts of operations management and how each, when implemented within an organisation, can be beneficial and contribute to the improvement of its operational efficiency. (Hill, A. and Hill, T. 2011) describe operations management as being core to what organisations do, it is the process of transforming inputs which include information, people and materials into outputs such as services or products. (Slack, N, et al. 2013) states that every organisation has to have an operations function because every organisation creates in some form a service and/or a product. This in turn must mean that every organisation, in order to increase its profitability must strive towards improving the efficiency of its operations function. The key concepts that will be explored throughout this assignment are; Just in Time (JIT), Inventory Management and Supply Chain Management. Just in Time (JIT) is an inventory strategy of planning and control used by organisations with the aim to meet demands of consumers instantaneously with perfect quality and to limit waste (Mà ¨uller, M. 2011). In order for this method to work it is essential that the manufacturer is able to accurately forecast what the demand for their product will be. Being able to do so allows the organisation to request stock from their supplier/s as and when they are needed during the production process and not before. This means they are able to operate with a lowShow MoreRelatedOperations Management : An Organization Essay1107 Words   |  5 PagesOperations Management Operations management is a field that can, at times, be misunderstood because of its multidisciplinary nature. 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