Operations Management in Business - 4031 Words

Operations Management in Business Table of Contents Introduction..............................................................................................................................3 LO 1 LO1.1 Explain the importance of operational management.......................................................4 LO1.2 Explain the need to produce safely; on time; to cost; to quality and within the law......6 LO1.3 Explain the link between operations management and strategic planning.....................7 LO1.4 Produce a systems diagram to illustrate a typical business..........................................8 LO 2 LO2.1 Explain the ‘Three Es’ (economy, efficiency and effectiveness).................................10 LO2.2 Explain†¦show more content†¦4. To make materials and inventory decisions: How often should inventory be ordered and how large should inventory levels be. 5. Have to make quality decisions: As a bread producing company how Kingslice can achieve best quality outputs and what level it should be. So as the operation manger in Kingslice it is really important to concentrate on productivity and profitability. So as the operation manager I have to look at Quality, Efficiency and Effectiveness issues in the company. †¢ Quality Standard: As it is expected to produce various kinds of breads to meet customers’ needs it is very necessary to maintain standard quality in products. Eg: Wholemeal bread, White bread, Gluten-free bread. To ensure quality, the right ingredients must be bought at a reasonable price to be competitive among the rivals. So the Economic Order Quantity model will be an effective tool in this case. †¢ Efficiency Standard: Should reduce wastage and need to produce the right amount of breads according to sales. It is very important that all the equipments need to be up to date according to new technology bakers should be well trained. †¢ Effectiveness Standard: This will help Kingslice to generate more profit and will attract more investors in to the organization. So having skilful staffs and proper equipment will help to lift up the effectiveness in Kingslice. LO1.2 Explain the need to produce safely; onShow MoreRelatedOperations Management : A Business1760 Words   |  8 PagesIn a business, there are many important tasks a manager and his/her employee’s need to uphold too. One of the most important processes while running a business is its operations management. Operations management is the fundamentals of managing and delivering the production process of all goods and services with in the business. This refers to all the activities, responsibilities, processes, functions and activities that are dedicated to the operation functions of the facility. 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