Operational Management Essay
Principles of Operation Management
name, learner number, the unit number, and your Centre name.
The aim of the report is to explain briefly the role and the importance of operational management in the effective and efficient production of goods or services. It also illustrates the needs to produce n time, at a relevant cost, and with the right quality within the law. It explains the link between strategic planning and OM, and the three E’s (efficiency, effectiveness and economy) plan. Moreover, it evaluates the importance of the five performance objectives that underpin operations management
Operation Management is a process of planning, controlling, leading and …show more content…
Retail design 1st. floor
The relationship between OM and strategic planning.
Operational management concerns the current production of goods and services. It involves improving the efficiency of the business by using optimum recourses and meeting the market demand. It requires flexible and skillful planning.
Strategic planning is the process of determine organisation’s strategy, and making solutions on distributing recourses to follow this strategy or direction. It distributes the recourses as a whole.
The original financial link between OM and strategic planning is the creation of the budget. OM is used to define the proper use of recourses such as facilities and equipment, whereas the strategic plan outlines the exact recourses needed for