Operations Management

Demand Forecasting: Meaning and 05 Factors Influencing Demand Forecasting

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Demand Forecasting: Meaning and 05 Factors Influencing Demand Forecasting

Demand Forecasting is identified as the process of predicting the demand for a particular product or service in the future. It is the process of identifying and predicting what the future demand will be for the product in order to make smart and profitable business decisions related to cash flow, profit margins, supply chain management, …

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07 Key Responsibilities of a Production Manager

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07 Main Responsibilities of a Production Manager

A production manager is a person who is in charge of the process of planning to coordinate and control the manufacturing process of a business. From production and quality assurance to deliver the products on time comes under the managing scope of the product manager. Below listed are the eight main responsibilities that are assigned …

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Mass Production: Meaning, 10 Main Advantages and Disadvantages

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Mass Production: Meaning, 10 Main Advantages and Disadvantages

Mass production is the process of manufacturing goods in large quantities. These products are usually standardized products that are made using assembly lines or automation technology. Mass production is considered the most efficient production type to manufacture a large number of similar products. Generally, mass production involves several assembly lines and various people are involved …

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Operations Management: Meaning and Importance

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Operations Management: Meaning and Importance

The business world is becoming more and more complex every day. Operations management helps businesses to grow in the competitive market. Operations management (OM) is the administration process of business practices to create a higher level of efficiency and effectiveness within the organization. It gives attention to the supply chain management process of the organization …

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12 Main Components of Operations Management

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12 Main Components of Operations Management

When discussing operations management, components of operations management take major importance in the subject. It is vital to identify what has created the operations management field. There are 12 main components of operations management that can be identified. The picture below depicts the 12 components of operations management. Forecasting– This component is related to using …

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