Operational Management
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Operations management involves managing information, human resources, equipment and technology needed for production in a very efficient manner so that you can produce goods at a lower cost or higher quality than competitors while still meeting deadlines.
Operations managers must have an excellent understanding of how things work and what needs done at any given time. The goal is to maximize your company’s efficiency, increase productivity, increase profits (and reduce costs), and deliver high quality products and services to your customers.
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 that every aspect of an organization runs smoothly and in accordance with expectations. This person reports to the CEO, working closely together they are able to identify problems before 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 also ensuring all operations meet company standards.
Operations Manager
The operations manager is in charge of making sure that all goes well on a day-to-day basis 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 making sure that everything in your business runs smoothly. It means you will have to take on 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
Product Development involves creating a new idea or expanding on an existing one in order to produce products. The operations manager’s responsibility is ensuring the end consumer gets what they want, as well matching trends of today’s market place with high quality goods.
Product development often starts by generating lots of ideas and then narrowing down which ones are going to appeal most widely among potential buyers.
Forecasting
To forecast, you need to take into account past data and present trends in order to predict what will happen next. One event that the operations manager must forecast is consumer demand for products. They rely on both of 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 use of raw materials acquisition and finished products distribution.
Additionally, they are responsible for tracking down any damaged or lost goods that might have been created during operation so they can be appropriately replaced. The operations manager also monitors pricing trends within different industry sectors carefully, which enables them to make decisions on impending contract negotiations more effectively.
Delivery Management
Monitoring customer satisfaction is a top priority for the Operations Manager. They are responsible for making sure that all products delivered meet consumer needs and expectations, as well collect feedback from unsatisfied customers if there are any issues with their purchases after delivery.
