Week 9 Operations Management

1.       Define the term operations management

Operations management is the management of systems or processes that convert or transform resources into goods and services.

2.       Explain operations management’s role in business

}  Has many roles such as Forecasting

}  Capacity planning

}  Scheduling

}  Managing inventory

}  Assuring quality

}  Motivating and training employees

}  Locating facilities 

3.       Describe the correlation between operations management and information technology

Information Technology is used in Operations Management to identify and improve business processes. It aims to automate processes where possible.

4.       Explain supply chain management and its role in a business

Supply chain management involves the management of information flows between and among stages in a supply chain to maximise total supply chain effectiveness and profitability. Customers order from retailers, who in turn order from distributors, who in turn order from manufacturers, who in turn order from suppliers.

5.       List and describe the five components of a typical supply chain

1. Plan- planning from raw materials to retailers.
2. Source- identify those involved in the chain.
3. Make- produce the good/ service.
4. Deliver- provide good/ service to consumer
5. Return- return any dead-stock to supplier

6.       Define the relationship between information technology and the supply chain.

IT has helped businesses forecast and plan the logistics involved in the management of a supply chain. There is greater visibility of business procedures with the use of IT integrated systems.

Source: http://tutor2u.net/business/production/pom_introduction.htm