Operations Management Operations management is the management of processes that transform inputs into goods and services that add value for the customer. LEARNING OBJECTIVES Explain the role of operations management KEY TAKEAWAYS The goal of operations management is to maximize efficiency while producing goods and services that effectively fulfill customer needs. Operations is one of the three strategic functions of any organization. Operations decisions include decisions that are strategic in nature, meaning that they have long-term consequences and often involve a great deal of expense and resource commitments. Key Terms strategy: A plan of action intended to accomplish a specific goal. tactic: A maneuver or action calculated to achieve some end. Operations management: Management of processes that transform inputs into goods and services that add value for the customer. What is Operations Management? Operations management is the management of processes that transform inputs into ...
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