Being part of the Operations Management brush-up class, I was not sure what to expect.
I listened carefully to the Lectures of the Day and the following are my take-away from that Class.
Defining Operations Management
Firstly, we normally think that Operations Management is strictly for people in the operations department, but that is incorrect from the lessons of that day. Every manager manages Operations on a day-to-day basis.
The management of business procedures to achieve the highest level of efficiency within an organization is known as operations management.
Making the most efficient use of personnel and materials to produce goods and services is the goal of operations management.
To optimize net operating profit, corporate operations management experts strive to balance costs and revenues.
Secondly, the definition above made it clear to me that though I am not an operations manager but a sales manager, in my work and role in the Organization, I also manage operations. I drive focus, productivity, and efficiencies within the organization to deliver the Top line value (Revenue) to the Organisation and the bottom line which is the operating profit. This is expected and forms the general basis for my day-to-day work and delivery in the Company.
Thirdly, it was clear to me that utilizing employees to drive Sales in my own case, sweating the Company’s assets, supplies, equipment, and technology as resources are part of operations management. Depending on customer needs and the capabilities of the business, operations managers develop, produce, and distribute goods to customers.
Fourthly, Operations management deals with a variety of strategic challenges, such as choosing the size of the sales team, project management techniques, and information technology network architecture. The management of inventory levels, including work-in-process levels and the procurement of goods for sale, quality control, product handling, and maintenance rules are further operational concerns.
Having said the above, I am now beginning to think of myself as an operations manager not just a sales manager since I perform the functions above.
In an Organisation, it is about meeting the customers need, in an efficient manner to achieve sustainability.
Being an effective manager requires having a thorough awareness of and coordination of a business’s operations.
Key Terms and Take away from that day
The link between an organization’s input and output, known as operational efficiency, when it is strong, enables organizations to reduce wasteful spending while boosting income. Businesses work hard to manufacture a high-quality product at a large scale with the fewest resources possible. A business manager must have the ability to recognize which existing processes are unnecessary to reduce unnecessary costs. They must be able to pinpoint an operational baseline to accomplish this.
Productivity is the ratio of output to input. It can also be described as the technology at hand and management’s aptitude for process improvement playing a significant role in productivity. Productivity is calculated by dividing an organization’s output by the units utilized to produce that output.
How much “work” is completed in each amount of time is the simplest definition of productivity in the workplace.
The capacity to support or continue a process over time is known as sustainability.
At the end of that day’s discussions, I realized that almost all we do in life is operations management. It is about balancing revenue and costs. This can be applied to our private life, our work life, etc. It is about driving efficiencies within our workplace and our family space. I expect the journey in Operations management this second semester to be interesting. Let’s watch and see where this will lead us to.