Operations Management

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Question 1:

Operations Management is a branch of management that deals with the design and management of products, processes, services and the overall supply chain. It focuses on the acquisition, deployment, and development of the resources that the firms require to deliver the products and services that their consumers require. This is an important concept because it ensures that that a firm is efficient and effective in how it handles its resources. Having a good understanding of operations management is more important in service industries because they use more resources such as machines and other processes, which require efficient running. Manufacturing companies achieve a high level of efficiency through the adoption of operations management.

Effective utilization of operations management approaches has many advantages. First, they include the reduction in the cost of production, and ensure that the consumer is satisfied. These approaches create room for innovation and they eliminate the risk associated with operational activities in the organization. In manufacturing a product, there is a need for developing more innovative products, which then meet the changing needs of the market. This is achieved within the manufacturing industry through the adoption of these operations management approaches

Question 2:

The program evaluation and review technique (PERT) is a technique used in the management of a project and it enables project managers to ensure that the said project runs according to the schedule and it meets the set standards and objectives. Some of the advantages associated with the use of PERT/ CPM, which include its benefits it brings when planning and monitoring the completion of major projects within the set time. In spite of the mathematical expressions used in PERT, it is very straightforward review tool with few mathematical codes compared to other techniques. The...