When we consider a particular land for our business, the future expansion plan must fit with the availability of the land or other resources. Here, the main role performed by the business data and its availability. In the real scenario, the increased productivity will attain by ensuring less fatigue to employees. It is closely assessed with the customer expectations and grown product design in detail. So operation management related with actions to providing service and products. This is very useful techniques for IBM researchers for the service environment, but it is same like PP not considered or not taken time value for money taken into account. Benchmarking is often used as quality programme. Operations management also typically follows up with customers to ensure the products meet quality and functionality needs. For a social service organization or non-profit organization is just rely on to check their performance on number customer they attained in a year. These factors are unavoidable. "Operations management is a multi-disciplinary field that focusing on manage all the aspects of the business’s operations. Balanced Scorecard: this technique is originated by Dr. Kaplan & David Norton. Many business strategies include supply chain configuration, sales, capacity to hold money, and optimum utilization of human resources. Operations Management is a process of management by which the entire resources are mobilized and configured to accomplish the strategic goal of the business. Soft supply and demand is a important task in well control the internal environment of service operation. The operation managers optimises the operations by making judicious use of resources and capital. This will explain the relationship between operations and other function clearly. The following are illustrative examples of operations management. Required fields are marked *. On the other hand, if used intelligently, ratio analysis can provide insightful information. But the technique is unable to incorporate risk to appraisal and ignorance of time value for money made this technique unsuitable for project evaluation. Your email address will not be published. SWOT is helping in identifying issues in the environment (Marketing and Its Environment, pg 440". This model may be considered toward comply with the information about a specific property. It is factual so a company obviously use rational model of decision making to survive in market. And project investments are not only reliable only on PP calculation. It needed to ensure maximum satisfaction to customers in terms of quality, design, benefits etc.