Operations management is the science and art that deals with
successful completions and delivery of goods and services to its end user.
It can also be defined as effective and efficient method for
utilization of the resources available, in order to design and produce goods
and services for customers.
Operations management is a very essential part of every
organization be it manufacturing or service. But different organization calls
it with different names but the aim of the activities remains efficiency and
effectiveness.
Operation can be widely categorized into:
1. Production
of goods/ creating of services: It includes production of goods when
talked in concern of manufacturing industries and creation of services when
talked in concern of service providing industries. Ex: Farming, Mining,
manufacturing, generating power, creating software, films, shows etc.
2. Storage/Transportation:
The goods once produced are either stored and maintained in warehouses or are
transported in the form of trucking, mailing, moving, supplying etc.
3. Exchange:
This includes retailing, wholesaling, renting, stock exchanges etc.
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