In the ever-growing academic competition, feeling overburdened with coursework is a common experience for students. They are hardly left with any time to prepare for the assignments after dealing with the regular classes, lectures, seminars, homework and whatnot. Students are unable to cope with the elevating pressure of stringent deadlines, complex requirements and too many guidelines. As a whole, they seem to lose confidence in themselves and end up getting poor scores and low grades.
So we took the initiative to get in your shoes and prepare the assignment samples to comfort your stress to some extent. So today we have selected to present the “Unit 25 Principles of Operations management assignment sample–BTEC-HND-LEVEL 4”. Pay close attention to how we build our concise and thoughtful research on the questions.
We have 4 learning outcomes (LOs):
LO1 – Understand the impact of the business environment on operational management
This part of the assignment seeks to define the concept of operations management, benefits and factors that have a significant impact on business operations. Application of PESTLE and SWOT analysis is useful to study the external and internal environmental analysis of the business concerning the chosen organization.
LO2 – the purpose of operations and its support to the business strategy
This section focuses on interpreting the major operational functions and their correlation to other business segments. The operational strategy could be explained by following the transformational models with an improved discussion about the performance variables that include speed, cost, flexibility, etc.
LO3 – Determination of adequate resource allocation for operations management
This section identifies the resource management strategies to ensure the appropriate allocation of assets at the right time and right place. For example, cost-benefit analysis is useful to coordinate business activities in operations management.
LO4 – Conducting an SRA analysis on operational functions in an organization
This section looks forward to performing the risk analysis at the strategic, tactical and operational levels by integrating the extensions of SWOT and PEST models. These models are counted as the best contingency strategies to minimize negative outcomes.
As a whole, this particular management unit will enable the students to understand the top-down and bottom-up approaches to business operations management.
I am sure, you want to have some more in-depth knowledge of this unit, so we go ahead to explain the major principles of Operations management. So here, I will start with the definition of operations management. To be precise, operations management indicates the management processes of planning, organizing, controlling and leading the human resources and organizational tasks.
The significance of Operations Management includes the following-
Resource optimization
It is useful to optimize the utility of scarce resources within an organization. The key tools used by the management for resource optimization include linear programming, statistical analysis, etc.
Inventory Management
It is the effective mechanism for inventory management that ensures the conservation of organizational resources. This enables the discussion on reducing resource wastage thereby minimizing the cost of inventory.
Supply Chain Management
Proper maintenance of supply and distribution of raw materials by keeping a record of inventory, capacity planning, network and distribution centre, stakeholders and customers.
Quality Management
It relates to the transformation of working principles into the quality assessment having the perspective to improve performance efficiency.
Cost Management
Operations management could maintain a competitive edge by reducing the cost of production by taking several cost-cutting measures.
Key Outcomes of effective operations management
You must be thinking, what exactly the key outcomes of effective operations management in business. Yes!! You must get a fair idea of the key outcomes and benefits associated with operational management which will make your understanding of the topic apparently clear.
1. organizational and performance efficiency tops the list of key outcomes that entirely depends on the improvement of business processes. As the productivity of a business has direct effects on the success of any company, hence the effectiveness of operational efficiency plays a key role in improving the business.
2. Delivering the financial goals and maintaining a stable economic situation requires the effective planning of RI fluctuations, sales and profits.
3. International quality standards are met by focusing on the industry benchmarks and application of quality standards like ISO 14000 to attain business excellence.
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