The Key Factors Of Operations Management - 1176 Words

Operations management observes the function of providing the product or service. It’s a focus that’s impossible to let go in operations management. There are two very important yet very obvious things under operations management and they are providing the product or service and to of course go ahead and sell the product or service. In order for a firm to ensure that it has the capabilities to produce its products, the supply chain, raw materials, and where to produce the products should be considered. There are six key factors to be followed and five important process choices to be mentioned. The factors are operations at low cost, the design at a high performance, reliable value, fast delivery time, development speed, and product customization. The process choices are project, job shop, the flow in regards to batch, flow in regards to line, and of course the flow in regards to continuous. I will be describing and providing examples for the six key factors as well as the five important process choices in the next few paragraphs. Some examples of operating costs include raw materials, salaries, and advertising. By using low-cost operations, there is an advantage over the competitors essentially by lowering the costs of operations below what others have in the same industry. With high performance design, some examples included would be technology, where we would use technology in a business to not only add value to the quality of the merchandise, but as well as the quicknessShow MoreRelatedImportant Metrics Of Business Performance Management Essay847 Words   |  4 Pagesimportant metrics of business performance management are financial, customer, internal, strategic, and compliance. These metrics can be seen as the key factors that operations managers focus on while working to ensure the successful performance of any company. 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