What is Operations Management?
Operations Management is the design, operation, and improvement of the systems that create and deliver the firm’s primary products and services in the most efficient and effective way.
It’s the discipline of managing an organization’s operations (which are the core, daily activities that create value; typically, in order to earn a profit). Operations is one of the primary functions of a business, alongside the likes of marketing or finance.
𝐅𝐑𝐄𝐄 𝐌𝐢𝐧𝐢 𝐕𝐢𝐝𝐞𝐨 𝐂𝐨𝐮𝐫𝐬𝐞 - 𝐓𝐡𝐞 𝐅𝐨𝐫𝐠𝐨𝐭𝐭𝐞𝐧 𝐅𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐥𝐬 𝐨𝐟 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭
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What are examples of Business Operations? They can range from a stone mine digging up rocks, an airline transporting people, a restaurant cooking and serving customers or a digital marketing agency doing its graphic. The operations are the core activities of those businesses - the systems that transform inputs into higher value outputs.
Operations Management is a broad and deep discipline. It is built on a huge body of established wisdom but is a highly practical field of business - working at the sharp end - getting things done!
Operations Management can be broken down into several core areas:
• Coordinating Resources - Getting what is needed where, and when
• Forecasting Demand - Making informed predictions on future demand for your products/ services
• Capacity Planning - Building capabilities to be able to meeting a certain demand in a certain time frame
• Demand Management - Actively managing the demand placed upon your operations, typically to smooth them over time
• Scheduling - Allocating which jobs get done in which order
• Resource Requirements Planning - Which resources should be allocated to each job (human, capital, inventory, energy, etc)
• Systems Design - Designing the overall systems of processes that form your operations
• Operations Strategy - setting the guiding principles for approach and decision making
• Performance Management - defining objectives, effectively measuring performance and improving
𝐅𝐑𝐄𝐄 𝐌𝐢𝐧𝐢 𝐕𝐢𝐝𝐞𝐨 𝐂𝐨𝐮𝐫𝐬𝐞 - 𝐓𝐡𝐞 𝐅𝐨𝐫𝐠𝐨𝐭𝐭𝐞𝐧 𝐅𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐥𝐬 𝐨𝐟 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭
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💻🌐 𝐒𝐞𝐥𝐟-𝐒𝐭𝐮𝐝𝐲 𝐎𝐧𝐥𝐢𝐧𝐞 𝐓𝐫𝐚𝐢𝐧𝐢𝐧𝐠 𝐂𝐨𝐮𝐫𝐬𝐞𝐬🚀💯:
📊 𝐎𝐏𝐄𝐑𝐀𝐓𝐈𝐎𝐍𝐒 𝐌𝐀𝐍𝐀𝐆𝐄𝐌𝐄𝐍𝐓 𝐀-𝐙
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🏭 𝐋𝐄𝐀𝐍 𝐌𝐀𝐍𝐔𝐅𝐀𝐂𝐓𝐔𝐑𝐈𝐍𝐆 𝐀-𝐙
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🚚 𝐒𝐔𝐏𝐏𝐋𝐘 𝐂𝐇𝐀𝐈𝐍 𝐌𝐀𝐍𝐀𝐆𝐄𝐌𝐄𝐍𝐓 𝐀-𝐙
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🚢 𝐋𝐎𝐆𝐈𝐒𝐓𝐈𝐂𝐒 𝐌𝐀𝐍𝐀𝐆𝐄𝐌𝐄𝐍𝐓: International Freight and Shipping
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📦 𝐈𝐍𝐕𝐄𝐍𝐓𝐎𝐑𝐘 𝐌𝐀𝐍𝐀𝐆𝐄𝐌𝐄𝐍𝐓 𝐀-𝐙
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⚠️ 𝐒𝐀𝐅𝐄𝐓𝐘 𝐒𝐓𝐎𝐂𝐊 𝐂𝐀𝐋𝐂𝐔𝐋𝐀𝐓𝐈𝐎𝐍 : Inventory Control
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📈 𝐊𝐏𝐈s: 𝐊𝐄𝐘 𝐏𝐄𝐑𝐅𝐎𝐑𝐌𝐀𝐍𝐂𝐄 𝐈𝐍𝐃𝐈𝐂𝐀𝐓𝐎𝐑𝐒 𝐀-𝐙
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📊𝐒𝐔𝐏𝐏𝐋𝐘 𝐂𝐇𝐀𝐈𝐍 𝐊𝐏𝐈s
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