What is operations management? What are some industries that might benefit from improved operations management? Discuss one industry and provide two suggestions for improving operations.
Select a consumer item available today and analyze it using the four Ps of marketing. How do these factors affect consumers? What are some things that influence marketers? What influences consumers to buy a product? Discuss two products with which you are familiar. Select one product that is marketed toward you and one product that is marketed toward a different demographic. Have you ever bought a product that was not marketed towards your demographic? For example, Lucky Charms cereal is marketed towards children but you may buy it.
300 words each.
The response addresses the queries posted in 710 words with references.
//While writing this paper, we will go through different articles and content related to operations management. In this part, firstly, we will discuss the concept and definitions of operation management, and then we will look in to the industries which have introduced operations management in their system.//
With the advancement of science and technology, business is also diversified into different segments and each segment has a major role to play in business as a whole. One such segment is operations management. It is a domain of business related to the manufacturing of products and services offered by an organization. Operations management is accountable for ensuring the efficient use of the scarce resources available with an organization and satisfying the needs of the customers with those resources to the fullest. It is a management process of transforming inputs in to outputs that is application of the factors of production to produce goods and services. It helps in adding value to the production process.
Almost every industry has introduced operations management in its system and there are a myriad of industries that have benefited by the application of better operations management. These industries are the service industry, retail industry, manufacturing industry and agro industries. Most of the organizations under these industries have used operations management to improve their efficiency level and to cater to the needs of the ...