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Operation Management

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by

Daniela Celleri

on 29 April 2016

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Transcript of Operation Management

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Providing the right goods and services in the right quantities at the right quality level in a cost-effective and timely manner
Production
It does not only apply to manufacturing...
Primary sector
Secondary sector
Tertiary sector
Quaternary sector
Essentially the purpose
of production is turn factors of production into the output of goods and services cost-effectively
Strategies and practices
Ensuring sustainability by creating a balance between the ecological, social and economic needs of people today and those of future generations
Sustainability

Operation Management
The Five Ms can be a useful tool in devising both marketing and production plans
They are combined in a cost-effective way to ensure there is value-added during the production process
Factors of production / Five Ms
Factors of production / Five Ms

Land
Labour
Capital
Enterprise
Materials
Manpower
Money
Machines
Management
To ensure that output can be sold for more than the inputs costs, production managers need to deal with several key aspects of operations management
Methods of production (Unit 5,1)
Size, scope and timing of production (Units 1.6, 1,7)
Production planning (unit 5,5)
Quality control systems (unit 5,3)
Research, development and innovation (Unit 5,6)
Factors of production / Five Ms
Ecological sustainability
refers to the capacity of the natural environment to meet the needs of current generations without jeopardising the ability of future generations to meet their needs
Ecological sustainable practices
Green technologies (Innovations that consider long-term impact -Solar panels)
Recycling (Turning waste into new products)
Ecological Footprint (Measures impact of resource consumption)
Cradle to cradle production (stop single used-manufactured products)
Conservation (Using renewable resources in sustainable way)
Preservation (Protecting earths resources by reducing human impact)
Social sustainability
The social aspect of sustainability examines the social interactions and structures that are necessary for sustainable development.

Ability of the society to develop in such a way that it meets the social wellbeing needs of the current and future generations.

Poverty, unemployment, social exclusion, racism and gender inequalities)
Economic sustainability
Refers to the development that meets the economic needs of the present generation using existing available resources without compromising the ability of future generations to meet their needs.
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