Management & Operations

This presentation explores the key approaches to operation management and highlights the importance and value of operation management in business. It discusses how operation management helps in enhancing product quality, increasing revenue, and customer satisfaction. The presentation also emphasizes the role of effective management in accomplishing desired business objectives.

Management &
Operations

Table of Contents
 Introduction
 Key approaches to operation management
 Importance and value of operation management
 Conclusion
 References

Introduction
Management and Operation is an important
administration of business practices which helps in
creating highest level of efficiency possible within a
company. It is primarily concerned with effectively
converting raw materials into finished goods and
services as efficiently as possible in order to gain
maximum amount of financial benefits.

Operation Management
Operation management is a theory which uses a set
practices through which efficiency in production
process of companies is observed. It is concerned with
controlling the production process and business
operation is done on most efficient manner.

Key Approaches
• Total Quality Management
• Just-in-Time
• Kaizen (Continuous Improvement)

Cont...
However, many other operation management
techniques can be adopted by business organisation in
order to carry out business related activities with full
efficiency. With respect to Marks & Spencer that
respective organisation effectively focuses on the
quality of the product which they produces.

Importance and Value of Operation
Management
Operation Management is a vital component of
manufacturing process. It primarily includes proper
planning, organising, managing, supervising as well
controlling overall process of manufacturing so that
desired business objective can be achieved effectively.

Cont..
• Product Quality: Operation Management helps in
enhancing the overall quality of product
effectively. However, while considering the
overall quality of products and services two
factors are majorly analysed durability and
reliability.

Cont..
• Increase Revenue: Increased customer
satisfaction and product value essentially helps an
organisation in increasing its overall revenue to a
great extent. This helps an organisation in building
positive reputation.

Cont..
• Customer Satisfaction: Satisfaction of company's
potential customers is the key of sales and
production in order accomplish desired business
objective effectively. However, through operation
management process overall quality of products
tend increase and customer's desired wants are fill-
filled.

Cont..
• Waste Reduction: Operation Management
essentially aids an organisation in increasing its
product value and minimising waste reduction.
However, this is considered as one of major
component of operation management.

Cont..
It can be summarised from the above analysis that
operation management technique is very important and
plays a very valuable role in accomplishing desired
business objective with full efficiency. Therefore,
organisation like Marks & Spencer shall effectively
make use of operation management techniques in order
to gain competitive business advantage.

Conclusion
From the above mentioned presentation it can be
summarised that effective management of all business
related operation is very essential in order to accomplish
desired business objective. Decision-making process of
managers and leaders essentially helps an organisation
in improving production process and sustainability
within can be witnessed significantly.

References
 Propa, G., Banwet, D.K. and Goswami, K.K.,
2015. Sustainable operation management using the
balanced score card as a strategic tool-a research
summary. Procedia-Social and Behavioral
Sciences. 189. pp.133-143.
 Radosavljević, J., Jevtić, M. and Klimenta, D.,
2016. Energy and operation management of a
microgrid using particle swarm optimization.
Engineering Optimization. 48(5). pp.811-830.

Thank You