Operation Management Assignment (Doc)
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Added on 2019-12-03
Operation Management Assignment (Doc)
Added on 2019-12-03
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OPERATION MANAGEMENT1
TABLE OF CONTENTSINTRODUCTION.....................................................................................................................................3TASK 1......................................................................................................................................................3Significance of Operations Management..........................................................................................3Operational functions of company....................................................................................................4Evaluating operations management by using process model............................................................5Three E's that are involved in the operations of organization...........................................................6Cost minimization and quality maximization...................................................................................7Significance of five performance objectives of the organization......................................................8TASK 2......................................................................................................................................................9Linear programming and evaluation of critical path and network planning.....................................9Need for operational planning and control in producing furniture...................................................9Operational outcome plan and layout of company..........................................................................10Network plan and resultant critical path for designing process......................................................10Approaches used for project management and quality control.......................................................12CONCLUSION........................................................................................................................................13REFERENCES.........................................................................................................................................142
INTRODUCTIONEvery organization has the operation function where the goal of producing goods andservices are achieved. Operations Management (OM) is defined as the designing, managementand improvement of systems that are related to the production and delivery functions ofcompany. Utilization of both financial and human resources is invested in incorporating thesefunctions (BooksRivard, O'Connell and Wegman, 2012). Therefore, it is the critical part oforganizational success. In this report, scenario of Furniture Supplier Company who deals withthe finished goods to leading furniture retailers is taken as the part of study. With the objective ofinvestigating new ideas for improving efficiency and effectiveness of their business, themanagement of operations is reviewed. Along with that, the significance of operationsmanagement with the strategic planning, production procedures and operational plan to thisSupplier Company are effectively mentioned here.TASK 1 Significance of Operations ManagementOperation management is very important for every organization. In context to the givenscenario of Furniture Supplier Company where the major function of an organization ismanufacturing of furniture managers of this enterprise consider this function to be a verysignificant activity because of the following reasons:Improvement in productivity: The production activity of organization is a measure ofproducing goods and services. Managers use operations management to measure theefficiency of producing goods (Drucker, 2012).Meeting Customer's competitive priorities: With the various approaches of operationmanagement, the analysis of customer's need for the type of goods that are required canbe determined.Development of goods and services: The significance of OM lies in producing goodswith planning and implementation of strategies that leads to the development oforganizational services and brand image. Ensure effective and efficient production process: The OM is beneficial for theorganization as it ensures advancement in the production process. Thereby, it leads to theeffective and efficient use of production procedures. 3
Enhance working capital utilization: The role of OM is used for enhancing theutilization of working capital (Ringle, Sarstedt and Straub, 2012). This is inclusive oforganizational assets and resources. Achievement of organizational goals and objectives: With the implementation of OM inbusiness activities, the managers make efforts in designing the new ways of doingfunctions. Thereby, it helps in the achievement of goals and objectives.Improvises evaluation processes: OM supports in providing the measures of monitoringbusiness activities. Thereby, it helps the organization to bring improvement in theevaluation process.Earning profit: The significance of OM supports organizations to earn the profits. Aswith the new standards for doing business activities are designed, planned andimplemented by company, the chances for earning profit is attained.Operational functions of companyOperation function of Furniture Supplier Company is divided into three major functions.The primary function of this manufacturing unit is to transform the resources into finished goods,that is, furniture. Following major activities are explained like:Production planning: In this process, Furniture Supplier Company plans the goals todetermine the production of furniture, the place of manufacturing etc. are laid down(Boyd, Hobbs and Kerr, 2003). The main objective of this Furniture Supplier Company isto provide retailers with the finished goods. In an order to make effective production,three basic types ofthe production method decisions which are inclusive of masscustomization, mass production and mass customization are being followed.Production control: In this process of production control, the manager of organizationcontinuously schedule and review the activities which are the part of processes.Immediate actions are taken when the feedbacks are received. In context to FurnitureSupplier Company, the activities of gathering raw materials, purchasing them, handlingof inventories etc. are made in the production control method.Quality control: In the final process of operation management, the manager of thisFurniture Supply Company directly makes efforts to get involved in the ensuringeffective quality management of the produced furniture. As this manufacturing unit is4
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