Significance of Operations Management in a Business Setting
Significance Of Operations Management In A Business Setting

Significance of Operations Management in a Business Setting

For an organisation to run successfully, it is necessary that all its business operations are streamlined properly and monitored professionally. Operations management acts as an umbrella that connects all facets of a business and ensures everything remains efficient. This is particularly important when the business grows in size and workload. Like any other functions of a business organisation, operations management is very crucial to the generation of products/services as well. Today, due to the growing complexity in the corporate world, the field of operations management has been increasingly gaining a lot of recognition among businesses.

The primary purpose of operations management in an organisation is to run the business operations smoothly, effectively, and successfully by using minimal resources to meet customer expectations. It integrates everything from finance, project management, and HR, to marketing and supply chain management. These operations pertain to business processes, transactions, workflows, and production lines and are detangled and optimized to convert resourceful inputs into profitable outputs.

Operation management, as a business function, involves proper planning, managing, organizing, controlling and supervising of all the processes, starting from procurement of resources through conversion and production to distribution. Operations managers are the ones who are responsible for overseeing the performance of the entire business set up and manage processes seamlessly in all elements of an organisation. An efficient operations management professional should be capable of successfully integrating all the organisational resources and make good use of its existing resources to get desired finished products. Let us now have a look at the key benefits that sound operations management can endow to an organisation.

Improves the Overall Productivity

The proportion between the input and output determines the productivity and profitability of any business, and adequate operations management is the key thing that ensures that output is better and higher than the input. Operations management focuses on using varying concepts, tools, and techniques to integrate and manage different organisational functions in a way that the overall productivity rises. This helps to put the organisation in a better position to achieve its goals.

Caters to CustomerRequirements

It is the responsibility of the operations management professionals to supplement and control the other business functions and R&D activities in an organisation to ensure that the endproduct caters well to the needs of the consumers. Efficient operations management combined with quality management ensures continuous improvement of the products/services to meet the consumer’s preferences and requirements. This helps the organisation to achieve higher levels of customer satisfaction.

Efficient Utilization of Resources

Operations management professionals are responsible for ensuring that all the business processes are developed, complied, analyzed, and adjusted to the proposed specifications, and converted into the products and services by utilizing the best of labour, machinery, and cost. With operations management, organisations can integrate all their existing resources optimally, and use these resources more efficiently and effectively to maximize productivity and raise profits.

As you can see, clear and competent management of business operations can create a robust competitive advantage for an organisation in the marketplace. However, operations management is a complicated role and requires in-depth knowledge and training in the field to be successfully able to handle the responsibilities. If you are aspiring to move into an operations management role or are looking forward to upskilling yourself to be better able to manage the challenges in the business environment, we, at TSW, can help you put your best foot forward.

We, at TSW, in collaboration with the renowned Indian Institute of Management Calcutta (IIMC) welcome you to take up our Executive Program in Operations Management (EPOM). This one-year program is designed to equip you with the concepts and practices of operations management to enable you to embark into an operation role successfully. The flexible class lectures delivered via live-virtual platform by the eminent IIM faculty, rich peer networking opportunities and executive education alumni status by IIM Calcutta are some of the many key USPs of the program. One among the most sought-after IIM executive programs for working professionals, this program won’t only help you become adequately skilled to thrive in the rising competition but will also serve as a validation of your augmented aptitude and deep-seated insights. Join EPOM, an IIM executive program, and open the gateway to bag well-paying, respectable jobs in the operations management arena.

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