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How can Operations Management help a business sustain it's competitive…
How can
Operations Management
help a business
sustain it's competitive advantage
?
Cost Leadership
more efficient output, able to meet demand
effective operations management allows for cost reduction
Economies of scale
streamlines production & removes bottlenecks
Product & Service Differentiation
Businesses are able to distinguish their brand and create a new place for themselves within the market/industry
Innovative product design drives differentiation
Contributes to brand value
speed
expertise
quality
Continuous improvement & Innovation
effective quality controls and standards
consistency
customer trust, loyalty
Intergration of new technologies
Quality Assurance & Control
improves quality of outputs
reduces defects
establishes consistency
Agility & Responsiveness
allows for businesses to quickly respond to changes in market trends, consumer demands
Production lines are able to be scaled up or down depending on demand