Operational Management Basic Understanding
What is OM? OM is operations management. Which is managing the processes. Operation – process/activity Management – controlling, planning, organizing and directing. Three major or core functions of an organization: Marketing product/service development operation Support function HR Finance
Why OM? For the production of goods and services for the delivery of goods and services Difference between goods and services 4vs Volume - how many products or services are made by the operation? Variety - how many different types of products or services are made by the operation? Variation - how much does the level of demand change over time? Visibility - how much of the operation's internal working are 'exposed' to its customers?