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Summary OPS350 Wk1 Paper.docx OPS/350 Wk 1 €“ Operations Management Today OPS/350 Operations Management University of Phoenix What is Operations Management? Operations management is a field of business concerned with the administration of business prac
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OPS350 Wk1 P OPS/350 Wk 1 €“ Operations Management Today OPS/350 Operations Management University of Phoenix What is Operations Management? Operations management is a field of business concerned with the administration of business practices to maximize efficiency within an organizati...
ops350 wk1 paperdocx ops350 wk 1 €“ operations management today ops350 operations management university of phoenix what is operations management operations management is a field of busi
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OPS/350
Wk 1 – Operations Management Today
OPS/350 Operations Management
University of Phoenix
What is Operations Management?
Operations management is a field of business concerned with the administration of
business practices to maximize efficiency within an organization. It involves planning,
organizing, and overseeing the organization’s processes to balance revenues and costs and
achieve the highest possible operating profit. An operations manager is tasked with ensuring that
the organization successfully converts inputs such as materials, labor, and technology into
outputs in an efficient manner.
Examples of the types of duties or specialist positions this encompasses are procurement
(acquiring goods or services from external sources), managing relations with those involved in
processes and improving a company’s sustainability with regard to their use of resources. There
are two key terms that can help answer the question of what operations management is more
precisely: supply chain management and logistics. Operations management has firm foundations
in both areas. For example, understanding global trends in supply chain management in order to
meet client demand is often critical. With logistics the careful and considered use of resources, as
well as cost-effectiveness, has become increasingly important in an era in which resources can
often be in short supply and customer expectations have skyrocketed.
A critical function of operations management relates to the management of inventory
through the supply chain. To be an effective operations management professional, one must be
able to understand the processes that are essential to what a company does and get them to flow
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