Operations Management: A Practical Guide
Think of the businesses and nonprofit organizations that you admire. What makes them so impressive? It’s rarely a question of only marketing or finance. Excellent operations need to be in place if an organization is to meet and exceed the expectations of its customers.
But what exactly is meant by “operations?” Operations include all the activities required by an organization to create goods or services and deliver them to the intended users or customers.
There are many different methods of presenting the operations function and its many subfunctions. These vary between industries and organizations. In this course, the differences and complexities in operations management are minimized for the sake of simplicity.
When customers walk into a shop and look at the products for sale, they probably aren’t aware of the level of work that is involved in getting a product onto the shelf. They want to pay a fair price for the item and expect it to fulfill its purpose. Millions, if not billions, of similar transactions happen everyday as products are bought and sold.
Each product’s journey to the market has been strategically planned, revised, and supervised in great detail. This process is known as product and service management. It is a managerial approach that companies use to understand how best to develop new products and services, and manage existing and mature ones.