Week 1: Role of Operations Management PaperWhat drives, directs, and decides the processes of production and distribution of a company? The answer is operations management. Companies that produce goods or services use operations strategies whether known or unknown to management and staff. "Operations management provides a systematic way of looking at organizational processes. OM uses analytical thinking to deal with real-world problems. It sharpens our understanding of the world around us, whether we are talking about how to expand globally or how many lines to have at the bank teller's window. At the most fundamental level, operations management is about getting the day-to-day work done quickly, efficiently, without errors, and at low cost (Chase, Jacobs, Aquilano, 2006)." Each of these is important to a business operating successfully and Lorenz Fiduciary Services has taken heavy advantage of these processes.
Role in BusinessEvery business produces some type of service or good that is destined for a customer.
Thus, operations management and operational strategies ensure that the production processes are executed accurately, efficiently, and in a timely manner to distribute to and supply the customer. In today's market of ever evolving technology and innovation knowledge and use of operations management and strategies is necessary. This type of change is not just for manufacturing companies but rather any company that is searching for ways to improve quality management, delivery and distribution, development and production. Every area can be improved with the implementation of operations management strategies.
Another role that operations management plays in business is as an organizational processes analyzer. The analytical style of thinking by operational managers is unique and coveted by companies. To improve current processes, make a simple or major decision, or to find where a problem started operations management uses an analytical approach to understand the situation. From this...