It is important to understand the meaning of operation management for the students before starting doing assignment on this. In this management process detailed development of reports on effective methods and processes is involved which can be incorporate in any business firm or industry to increase the productivity. To solve the different operational management problems one need to learn the important concepts and methods involved in production management. To prepare effective and efficient operational cost management assignments one need to understand the concept of labour issues, supply chain, inventory management, faculty location etc. preparation of an assignment on operational management involves both understanding and reporting of different areas involved. Before starting the assignment, many approaches and factors are involved. If one will have the good knowledge of all the important areas, one can prepare the best assignment. What he needs is the right guidance and support at the right time.
Many times, the requirements of the assignment regarding the operational management is confused and a generic one is prepared by the assignment makers. There is need to understand that each of the operational cost management has its sub division which is again an essential concept to take into consideration as each sub category focuses on a specific area. It is a cumbersome job for a student to understand each sub division and then to organize it properly to ensure a definite result. Main areas covered under operational management are input, output, strategy, control, cost etc. a business firm must focus on each and every area to gain control and thus improving all over profitability. Each task has its own strategic effect which aims at improving overall efficiency.
It is also referred as supply chain management as it incorporates both the systems of input and output which is supplied or required by each business firm and industry. The factors which are included in this sub category are human resource management, raw materials, equipment, production etc. to ensure maximum productivity and profitability one has to ensure the effective and efficient management of supply chain which needs each and every stakeholder to take the responsibility of all the factors falling under each sub category.
All the business firms and industries are dependent on resources to function whether it comes under manufacturing or service or the delivery department and at the same time each and every unit should have access to all the resources to function properly. So, to propose a business establishment one needs to consider the resource management at the first step. This is important to consider that every project manager will first consider the management of resources before approving any project as through this only success of the project and the cost and competitive advantages associated with the project can be determined. Resource management is further sub divided into 2 categories i.e. virtual and physical.
An effective and efficient strategy is very essential for a project to do wonders. Its success and growth very much depends on the strategy behind it. Strategy can be defined as a well-structured plan focusing on each and every aspect so that solution can be given for all the identified factors. It consists of 4 categories i.e. Marketing, sales, opportunity and team work. Every business entrepreneur should analyze all the market related factors so that all the attractive business opportunities can be identified for which they can prepare a suitable plan. It also team work in which the plan is taken into action with a team where all the work is divided among all the staff people according to their expertise. This does not only help in getting the requirement but also contributes to gather all the necessary information. The plan made by the strategic management should keep an eye on both the marketing and sales department so that planned revenue and income could be generated.
By planning management, we mean that a business firm or industry should follow a definite pattern as set to achieve the required goals and objectives effectively and efficiently. One has to plan each and every aspect to address the desired growth. The work done by the planning management is to identify the concerned areas and then developing plan to address all the concerned factors.
All the operations and proposals should be based on the structured plan and then the plan should highlight all the proposed steps to be expected to be achieved. Proper deadlines should be intimated and inclusion of all the factors like energy, future demand, timeframes, funding etc. should be there. So, all these points should be taken into consider so that the objectives would be achieved within the set timeline.
Overseeing management includes the task of guiding and monitoring the all the firm stakeholders and the entire staff people regarding the objectives they want to achieve.
It is carried by all the stakeholders as each one is responsible for the monitoring and guidance of staff working under them. Job of the seniors is to monitor and guide the staff whereas the job of juniors is to follow the instructions given and make necessary changes for the continuous improvement.
The main objective and goal of every business firm is to generate maximum profits. So, to generate maximum profits, overhead cost and expenses have to be managed so that margins could be increased on each and every product sold. Cost management is the process of identification of all the factors which are linked to the purchase so that best approach can be taken into account. It would help the business to focus on lowest cost and selling the best quality products because one cannot compromise the quality of a product to decrease the cost. It also helps the business to determine the competitive prices also which is again very necessary to target the market.
Control management is also known as quality management as this process involves the management of standards, measurement of actual performance and monitoring of quality as well. It is the integral part of every business as in the process of control management every business enterprise has to set the targets regarding the quality which they have to meet to deliver the high-quality products and fulfilling customer needs as well. It is regarded as an independent body in every business whose responsibility is to satisfy the expectations of both customers and supplier in desired manner. The control managers act as mediators between consumer, supplier and business organization and at the same time maintaining balance between them to meet the given deadlines.
All the people associated with the business whether it is owner or supplier or staff ar it is customer, everyone has their own set of expectation which needs to be fulfilled for the smooth running of the business as well meeting the goals effectively and efficiently. So, this is the job of requirement management. In a new startup business, it is not possible to meet everyone’s expectation so there we set up a priority and on priority whose expectations are considered on urgent basis that the company tries to fulfill. In this whole process of meeting the expectations and satisfying them in a desired manner, requirement management plays a very significant role. It also plays an important role of communication as time to time it communicates between the addressee and the person addressed.
In the context of operational management, it is very important for a student to take a review of the overall topic and cover all the areas diligently. Otherwise one will not be able to give his or her 100 percent to the assignment.
One has to understand the problem requirement before starting the assignment based on operational management. For that one should first go through the file of requirement and then the determination of specific requirements should be done like labor issues, supply chains, inventory management etc. we should also discover what information we have to cover under each area to fulfill the needs of requirement.
Once one defines and understands the requirement, now the next step must be taken and i.e. To collect the data. To gather most accurate and appropriate data one must use most qualitative and quantitative approach so that the desired goals are obtained effectively and efficiently. We should also ensure and check again that all the data is collected from credible sources and dates are too verified. We should also prioritize our resources so that they can be utilized in an effective and efficient manner.
Now, the next step comes of outlining the expected outcomes and then filling all the performances gaps. Frequent questions asked at this level are: what is the current position of company and how long it will take to reach our goal? What do you mean by success and how does it appears?
Then the stage comes of finding out the advantages and benefits of the betterment. It is very necessary for the stakeholders to understand all the benefits linked for the upgradation and how all this will lead to the improvement and betterment. One can even use KPI tree as well.
All the approaches which are mentioned above will definitely help you to accomplish your operational management assignment which will cover all the aspects. We at make my assignments have a team of all experts and professionals who all are 24 x 7 available for your service. We ensure you to give you the best assignment help in Australia which is offered with full diligence and hard work and will also be delivered before deadline.
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