Operations management
Operations management is the process of overseeing the transformation of inputs (resources) into outputs (goods or services) in a way that maximizes efficiency and effectiveness.
It involves coordinating people, processes, and technology to create value for customers while achieving organizational goals.
A car manufacturer might use just-in-time inventory systems to ensure parts arrive exactly when needed, reducing storage costs.
Capacity management
The process of planning, monitoring, and optimizing the production capacity of a business to meet demand efficiently.
Sustainability
The practice of producing goods and services in a way that minimizes environmental impact, ensures social responsibility, and maintains economic viability for future generations.
Quality control
A process used to ensure that products or services meet specified standards by identifying and correcting defects.
Total Quality Management (TQM)
A holistic approach to long-term success through customer satisfaction. It involves continuous improvement, employee involvement, and process optimization across all departments.
Six Sigma
A data-driven methodology focused on reducing defects and variability in processes to achieve near-perfect quality. It follows a structured approach called DMAIC (Define, Measure, Analyse, Improve, Control) to improve efficiency and eliminate errors.
A hotel chain might implement a feedback system to identify areas for improvement in customer service.
Note
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Paywall
(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.
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