1. Define the term operations management
Operations management is the management of systems or processes that convert or transform resources into goods and services.
2. Explain operations management’s role in business
Operation management has an influential role in the functioning of the enterprise. The roles required by the operations management’s team are:
Ø Forecasting
Ø Capacity planning
Ø Scheduling
Ø Managing inventory
Ø Assuring quality
Ø Motivating and training employees
Ø Locating facilities
These responsibilities are largely relied upon by the business to ensure the enterprise obtains a competitive advantage amongst its competitors and receives a growth in business profits.
3. Describe the correlation between operations management and information technology
There is a strong relationship between operations management and information technology as the tasks required by operations management can be organised and completed with the utilisation of an information system. By automating the most important business practices, business will be able to work more efficiently, reduce overhead, increase agility and improve insight into business processes. An integrated system is the only way to have a consistent view of the data and provide up to date results, on a company wide basis. Organisations have saved millions of dollars by replacing out-dated technology and paper-based systems, and integrating previously disparate systems to eliminate duplication of effort and increase consistency of information.
4. Explain supply chain management and its role in a business
Supply chain management involves the management of information flows between and among stages in a supply chain to maximise total supply chain effectiveness and profitability. In other words, it is a network of organisations and facilities that transforms raw materials into products delivered to customers.
5. List and describe the five components of a typical supply chain (exam)
· Upstream, where sourcing or procurement from external suppliers occurs.
· Internal, where packaging, assembly or manufacturing takes place.
· Downstream, where distribution takes place, frequently by external distributors.
· Tiers of suppliers, a supplier may have one or more subsuppliers, and the subsupplier may have its own subsupplier(s) and so on.
6. Define the relationship between information technology and the supply chain.
Organisations greatly benefit from the integration of information technology into the management of the supply chain. Information technology has significantly improved companies’ forecasting and business operations. It also provides enterprises with greater visibility over the supply chain inventory levels. IT’s primary role is to create integrations or tight process and information linkages between functions within an organization.
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