Operational Management
Optimize Your Operations with Expert Strategic CFO Services
Operations managers wear many hats. They manage information, human resources, and the equipment and technology needed for production.
Operations managers apply these responsibilities in an efficient manner to produce goods at a lower cost and or higher quality than competitors while meeting deadlines.
Operations managers must have a firm understanding of your business procedures. They should maximize your company’s efficiency, increase productivity, increase profits (and reduce costs), and deliver high quality products and services to your customers.
At Fully Accountable, our outsourced CFO services provide the framework you need to maximize your business growth. With data-driven operational strategies and a commitment to actionable insights, our operational management services optimize your products and services so you can take on the competition with confidence.
Proper Operations Management can help you:
What Does an Operational Manager Do?
There are two main roles in operations management: Chief Operations Officer and Operations Manager.
Chief Operations Officer
The Chief Operations Officer (COO) ensures every aspect of an organization runs smoothly and in accordance with expectations. The operational CFO reports to the CEO and, work together to identify problems before they it becomes too big or expensive for either party involved.
The high-ranking executive position known as “COO” has many responsibilities including managing day-to-day work while ensuring all operations meet company standards.
Operations Manager
The operations manager optimizes the day-to-day aspects at their company. They’re typically most concerned about what happens when producing products, providing services, and ensuring there’s no capacity constraints, inventory management issues, etc. They need to keep an eye out for both big picture problems and smaller ones.
Functions of Operational Management
Operations management is the art of ensuring your business runs smoothly. Your CFO fulfills various roles, including strategic functions, such as planning and budgeting for projects across different departments within an organization.
Functions of Operational Management Include:
Product Development
The operations manager’s responsibility for product development ensures consumers get what they were promised as well matching trends of today’s market place with high quality goods.
Product development often starts by generating lots of ideas and narrowing down which ones are going to appeal most widely among potential buyers.
Forecasting
To forecast, you need to account for past data and present new trends to predict what will happen next. The operations manager must forecast consumer demand for products and optimize operations to meet that demand. They rely on these sources when making decisions about how much product should be manufactured or sold at any given time.
Supply Chain Management
The operations manager manages the supply chain process by maintaining control of inventory management, production planning, and scheduling resources to ensure efficient raw materials acquisition and finished products distribution.
Additionally, they track damaged or lost goods that were created on the supply chain so they can replace them expediently. The operations manager also monitors pricing trends within different industry sectors carefully, enabling him/her to make more effective decisions on impending contract negotiations.
Delivery Management
Above all, the operations manager must monitor customer satisfaction. They ensure all products meet consumer needs and expectations, as well collect feedback from unsatisfied customers for any issues with purchases after delivery.
Optimize Your Operations and Maximize Your Business’s Potential
Your operations manager should streamline your business processes to achieve maximum efficiency. From manufacturing to post-delivery customer satisfaction, they are the main source of quality control for your company. If your company provides services to consumers or other businesses, your operations manager standardizes those services.
At Fully Accountable, we believe businesses of all sizes should have access to strategic CFO services that improve your business from top-to-bottom. If you want improved operations and standardized procedures, our team of financial professionals is here to deliver.
