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Operations Management - Coggle Diagram
Operations Management
Role
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Flexibility and innovation: develop and adapt processes and products with changing business environment
Decisions
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Tactical decisions: about factory design, project management, and equipment selection
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Business Functions
HRM
The HRM department guarantees skilled staff which is required to produce demanded goods. This is done through appropriate recruiting and training.
Finance
Production generates revenue, but it also creates costs. Many firms fail because they run out of cash during production.
Marketing
Marketing department generates demand and liases with operations to ensure this quantity can be produced.
Production Process
Inputs
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Land: ground of operation, material extraction
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Definition
Operations management is concerned with the design of products and services and the management of processes and supply chains.