Management can cover a wide list of responsibilities.It controls the day-to-day functions of
a company.It is a transformation
process regarding any activity or group of activities that takes one or
more inputs, transforms and adds value to them, and provides outputs for
customers or clients.
your company is product based or service based, or both, the functions of
Operations Management are always the same: (1) designing, (2) planning,
(3) organizing, (4) directing, and (5) controlling.
analysis is a tool used to see if an investment is worth pursuing.Break-even analysis lets you find when
you first start making profit, and Crossover Analysis lets you identify
the point where you should switch from one type of product to another one
that has similar benefits, but different fixed and variable costs.
Path Method (CPM) is a tool that helps plan and coordinate tasks and
activities in a project.Gantt
Charts, PERT and Decision Tree methods are also used.Microsoft Project is a great tool to
use for Project Management.
Chain Management involves the flow of materials, information, and finances
as they move in a process from supplier, to manufacturer, to wholesaler,
to retailer, to consumer.Three
levels of decisions associated with SCM are:Strategic, Tactical, and Operational.The five basic steps are:Plan, Source, Make, Deliver and Return.
Management ensures a product or service is effective and efficient, and is
based on three main components:Quality control, Quality Assurance, and Quality Improvement.
Management keeps track of goods and materials held available in
stock.Sophisticated software not
only keeps track of the goods and materials, but also creates invoices,
purchase orders, and bar codes.
Service provides support to customers before, during and after the
purchase of a product or service.Three steps that are essential in providing great customer service
are:Having a customer friendly
attitude, being technically proficient, and knowing the expectations,
values and goals for the self and company.Use of surveys should be used to measure satisfaction
levels.Surveys show that
employees who can identify the customers’ true needs.
call resolution (no repeat issues).
be treated with respect and that they are truly valued.
employee who is truly trying to meet their needs.
be taken care of as quickly as possible.
is the area that includes the company's computers, specialized software
programming, and data communications regarding the company’s networking
needs, whereas “IT” has the responsibility for implementing, installing,
and maintaining the information infrastructure.They are sometimes both intertwined as one group.
one of the most necessary departments in a corporate company
environment.They have to be able
to handle a crisis in a smooth, discreet manner, whether it is a health
care issue, sexual harassment, or employee disputes.They must also be trusted to keep an
employee's personal details to themselves.
LESSON 9 - BUSINESS BASICS PART II - OPERATIONS MANAGEMENT, CUSTOMER SERVICE, IS & HR
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