Briefly Explain the activities in Operation Management.
Operations management is the term used for the activities which produce and deliver products and services. OM Transforms inputs to outputs. Inputs are resources such as people, material, and money. Outputs are goods and services. The process can be portrayed by the following diagram.
The activities involved to add value which will increase product value at each stage. Value added is the net increase between output product value and input material value. The activities provide an efficient transformation. Efficiency means performing activities well for least possible cost.
The activities of operation management can be summarize in the following diagram :
Compare and Contrast between Traditional and Total Quality Management.
Total quality management (TQM) is a system that eliminates all flaws in the process of the management plan and therefore is management by exception. TQM is achieved in detecting the flaws in the system, finding solutions to correct the plan and introduce it in the next cycle so that the flaw is eliminated. It is a continuous process until TQM is achieved.
Traditional quality management plans objectives and applies the resources to achieve the objectives of the plan which normally have flaws. It is a rigid system with n scope for flexibility and adjustments.
Explain the concept of supply chain management.
Supply chain is the movement of a product from its original sources t end user. The design f a firms customer relationship order fulfillment and supplier relationship processes and the synchronization of these processes with the key processes of its suppliers and customers in order to match the flow of services, materials, and information with customer demand. The supply Chain management concept can be shown in the following diagram
Explain what you understand the term Material...