Common Elements of Four Operations Management
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What are some common elements or aspects of the four operations management: producitivity, inventory, capacity, quality? Compare the relative importance of these in manufacturing (e.g. Excellent Mfg. Co.) to the importance in other kinds of business, e.g. book store. Also, consisider facility layout and scheduling. Discuss how these compare in relative importance to the areas above.
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Solution Summary
The common elements of four operations management is determined. A comparison between manufacturing and book store operations management is examined.
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Aspects of OM
Operations management is basically concerned with managing the daily operations of firms. It uses a quantitative approach to find ways to increase productivity, improve quality, reduce inventory cost and manage capacity. Thus, some common aspects of these operations management require in managing it effectively such as control, forecasting and improvement (Williams, 2008). All these aspects are important to handle the productivity, inventory, capacity and quality of the products in OM.
Comparison between Manufacturing and Book Store OM
The relative importance of these aspects in Excellent Mfg. Company and book store has some similarities in operations management. In manufacturing company, control is most important in production, inventory, capacity and quality to reduce wastes and to improve profitability. Similarly, the control over inventory, capacity and quality in book store would also reduce the risk of damage, and lost (Kumar & Suresh, 2009). Further, ...
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