Operations Management in Business
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Every business conducts some form of operations management. ôOperations management focuses on carefully managing the processes to produce and distribute products and servicesö (McNamara). Much of operations management deals with finding the most efficient and effective way to manage processes, so processes are measured and analyzed to determine whether they need to be improved. Metrics are used to show whether output is increasing or decreasing, whether profit margins are changing, and whether departments are costing the company more money than they make. A company that makes widgets, for example, will keep running metrics to ensure that the cost to make the widgets, the amount of time to make them, and the cost of labor to produce them are all in line with the profits they bring. Where a process takes too long or costs too much money, that process can be improved to eliminate redundancy and wasted time, bringing the cost in time and money into line with profits.Since upper management in companies conducting operation management is interested in seeing the numbers that prove the company is efficient and making
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Approximate Word count = 757
Approximate Pages = 3 (250 words per page)
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