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Pages 8 (2008 words)
The business environment is becoming increasingly challenging. In certain countries like India, firms have to deal with several bottlenecks such as outdated technology, underdeveloped infrastructure, inappropriate payment systems and ineffective scheduling and control systems, which have hampered their progress…
The need for operations managers to reduce manufacturing costs, optimize productivity and improve product quality in order to stay in the market has become imperative. Many organizations now recognize the importance of automation, optimization of scheduling and a proper inventory management system, and are incorporating total quality management and total quality in their operations.
Today, the ordinary customer has become more sophisticated and demanding, and expects more variety, lower costs and better quality. Customers therefore drive demand and the industry has to meet this demand. Inter-firm rivalry and competition have also increased manifold. In line with these changes, organizations are replacing production-driven systems involving mass production, by market-driven systems to enable them to corner market share. This scenario has increased the importance of operations management in an organization, as it is directly responsible for the final product. As a result, operations management is gaining more significance and has become a key discipline in management science. Until recently, the field of operations of management was considered relevant only to the manufacturing sector. But with the increasing influence of service industries, the scope of operations management has widened. ...
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