MOD1

• Today's successful companies have achieved world-class status because of their strong focus on operations management.
• Operations Management is considered the central core of all business functions.
• All companies, whether small or big, have an operation management function.
• All other business functions play a support role to operations management.
• Operations Management is a business function responsible for planning, organizing, directing and controlling resources in order to produce goods and services.
• Operations Management involves managing human resources and nonhuman resources such as raw materials, equipment, technology, information and others.
• The role of the operations management is to transform company's inputs (people, materials, equipment, facilities, processes, technology, and information) into the outputs (finished goods and services).
• This module introduces you to operations management, the most critical business function.
• Every company or organization has three major business functions: marketing, operations, and finance.
• The marketing function is responsible for managing the customer demands in order to generate sales for goods and services.
• The operations function is responsible for managing people, equipment, technology, materials and information to produce goods and services.
• The finance function manages cash flow, current assets, and capital investment to provide funds for the marketing and operations.