I heard a profound statement today: everything there is as a result of operations. That was a key takeaway for me from the introductory webinar on Operations Management. Like Cost and Management Accounting, it is another course that has been lined up for our study in the next semester. Operations management is about doing. It is about executing actions. It is about performing activities sewn up together in a logical manner to consistently deliver prescribed outcomes. This sequence of activities is called business processes. It lies at the heart of the successful execution of any business strategy, otherwise, the best strategies would end up living only on paper.
Not a few challenges in organizations can be traced to the failure of operations. For instance, it is a failure of operations, when a customer did not receive service on time or got delivered a defective product or worse still was delivered something she had not ordered. Another example is service disruptions as a result of actions or inactions of parties responsible to keep the service running. At the heart of operations failure of any type, there will always be some evidence of mismatch, of demand and supply of some form or shape, along the chain of the operations process. Put differently, there is an inadequate capacity of the organization to meet the demand for its products or services. The goal of operations management, therefore, is to effectively and efficiently match the productive capacity of organizations to match the demand of the organization.
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Murphy’s Law