Question

explain the trends in operation management in detail?

Answer 1

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Answer 2

The operations management is the process of managing activities that produces goods and services in order to create value to the customer. With recent development the operations management has changed drastically and major changes in operations management are sumerized below:

Global Focus

The geographical limitation of the market has expanded from focusing on local markets to focus on global markets. This has occurred due to the rapid development in communication, globalization and increased mobility of resources among countries. As a result countries focus on producing goods and services at a global scale rather than limiting themselves to geographical boundaries.

Just In Time Production

In past production was carried out in a mass production method where there were batches of goods produced and sold at mass scale generating economies of scale. In the modern operations management era batch production focus has shifted towards Just In Time production where goods and services are produced upon the receipt of order with customizations. It has reduced the inventory cost drastically.

Supply Chain Partnerships

In past the purchasing activities were carried out based on the lowest bid where organizations chose the supplier who provides the lowest bid for a particular order. This was more short term focused and quality and reliability was ignored. In modern days the low bid purchasing has shifted to supply chain partnerships where companies consider suppliers as a part of their value chain and build long lasting relationships with suppliers rather than focusing on short terms gains with low prices.