Recently, there has been a move towards more modern production methods that use new technology to produce products - goods and services.
Posts published in “PLANNING PRODUCTION”
Intellectual capital is becoming increasingly important in knowledge-based economies. It plays a vital role in knowledge-based economy.
Scale of production means the size of the business operation. It refers to the volume or quantity of goods that a company or organization produces.
The concept of Supply Chain Management (SCM) has become an important consideration for firms – supply chains have simply become increasingly complex.
A business faces a make-or-buy decision when it has to make a choice between manufacturing a product on its own, or purchasing it from a supplier.
Production decisions mainly evolve around preparing input resources to supply output products to meet expected market demand.
The role of operations management impacts on all functional areas of a business organization including marketing, Human Resources (HR) and finance.
Operations Manager aims to produce goods and services of the required quality, in the required quantity, at the time needed and in the cost-effective way.
Operations management includes a far wider range of activities and refers to the management of all production process.