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Operations Management in Business

   

Added on  2019-12-03

15 Pages4356 Words144 Views
OPERATIONS MANAGEMENT IN BUSINESS 1
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TABLE OF CONTENTSINTRODUCTION............................................................................................................................4TASK 1............................................................................................................................................41.1 Importance of operations management for business..............................................................41.2 Analysis of operations functions of Furniture Supplier Company.........................................51.3 Evaluation of Furniture Supplier Company by using process model of the operationsmanagement.................................................................................................................................62.1 Explanation of three E's.........................................................................................................62.2 Tension between cost minimization and quality maximization.............................................72.3 Evaluation of significance of five performance objectives....................................................8TASK 2............................................................................................................................................93.1 Explaining linear programming.............................................................................................93.2 Critical path analysis and networking planning...................................................................103.3 Need for operational planning and control in producing furniture......................................104.1 Designing layout for producing furniture and its operational outcomes..............................114.2 Producing network plan and critical path.............................................................................114.3 Identification of approaches for project management and quality control..........................12CONCLUSION..............................................................................................................................13REFERENCES...............................................................................................................................142
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ILLUSTRATION INDEXIllustration 1: Network diagram.....................................................................................................123
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INTRODUCTIONOperations management in business can be considered as a crucial element as it helps incarrying out the activities, decisions and responsibilities of managing resources that are availablefor the production and delivery of products and services. However, it assists in ensuring that theoperations of business are effectual in making utilization of resources that are available withinbusiness (Berger, 2011). In the present report, operations management within business isdiscussed with regard to the Furniture Supplier Company. Business is engaged in providingfinished products to leading furniture retailers. Research highlights the importance of operationsmanagement within business and also evaluates the process model for Furniture SupplierCompany. At the end, critical path analysis and network planning has been done in order toevaluate the outcomes. TASK 11.1 Importance of operations management for businessOperations management is significant for Furniture Supplier Company because of thefollowing reasons. These are as follows-Enhancing the productivity- It is essential for operations management to ensure quality inthe manufactured products. Therefore, it plays a significant role in enhancing theproductivity and profitability of Furniture Supplier Company (Mahadevan, 2010). Improving the financial condition of enterprise- It can be assessed that management ofsupply chain is ensured through operations management. Thus, it helps in bringingadvancement in order to carry out the processing for firm. Hence, the finished productsare offered to retailers within minimum period of time and thus, it has impact on thefinancial condition of Furniture Supplier Company (Neave, 2013). Helps organization in meeting client's priorities- Operations management play a crucialrole in managing the demand and supply of firm in meeting the customer’s prioritieseffectively. Through such function, it is important in maintaining the balance betweenquality ordered and supplied by firm of furniture (Ram, 2010).Managing product and service- The growth of product includes varied steps. It starts withthe generation of idea and ends with the sale of products. However, for Furniture Supplier4
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