OPERATIONS MANAGEMENT AND SUPPLY CHAIN MANAGEMENT. (Research Paper Sample)

OPERATIONS MANAGEMENT AND SUPPLY CHAIN MANAGEMENT
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Introduction
In the current century, there is an upsurge of industrial activity around the world. Companies and organizations dealing with different goods and services. Moreover, with globalization, consumerism has been on the rise with companies being able to serve larger markets. To ascertain their profitability and maintain their competitive advantage in the international market, multinationals have established and implemented operations management techniques and philosophies that are unique to their type of operations and that ensure the companies remain afloat. This entails ensuring that the goods and services produced and traded are of good quality, adequate quantity, reasonable price and delivered to meet customer satisfaction.
Operations Management
operations management can be defined as the administration or conducting of business practices in a manner that ensures the highest level of efficiency within the business is achieved. This focuses on the conversion of raw materials, technology, equipment and labor into desirable goods and services in an efficient and profit-maximizing wayCITATION Lee191 \p 45 \l 1033 (Krajewski, et al., 2019, p. 45). In general, it involves functions such as planning, organizing, controlling, and coordination of all required resources to produce goods and services. According to Krajewski et al., (2019, p. 65), operations Management plays a transformational role hence acting as the engine of the company as seen below.