// ROBOTICS AND SMART FACTORIES TERM
Operations Management
Operations management is the area of management concerned with designing, controlling, and overseeing the process of producing goods and services. It ensures efficiency in using resources.
TECHNICAL DEFINITION
Operations Management is the administration of business practices to create the highest level of efficiency possible within an organization, converting materials and labor into goods and services, encompassing production planning, quality control, supply chain management, and resource optimization.
BACKGROUND
Operations management is concerned with designing and controlling the production of goods and services, ensuring that businesses are efficient in using resources to meet customer requirements.
READ MORE ON WIKIPEDIASYNONYMS & ALIASES
- Production management
- Supply chain management
- Logistics management
- Process management
USAGE NOTE
Effective operations management is vital for a company's profitability and customer satisfaction.