4. Operations Management
HND in Accounting and Finance
About 4. Operations Management
Operations management is everywhere, in every organisation, in every service experienced and in every product consumed. It is the administration of business practices to create the highest level of efficiency possible within an organisation. It is concerned with converting materials and labour into goods and services as efficiently as possible to maximise profits.
The aim of this unit is to enable students to explore how operations management manages all business activities to efficiently create and deliver products and services. This includes the transformation of inputs into outputs of finished goods and services, and activities throughout the supply chain. Students will explore the approach to quality management and continuous improvement in the production process.
They will review how operations managers have to look externally as well as at internal processes, considering suppliers’ performance and customers throughout the supply chain. By the end of the unit, students will have an insight into the complex nature of operations, processes and supply chain management, fundamental for understanding the holistic work environment in any industry and organisation.
Program Learning outcome:
By the end of this unit a student will be able to:
LO1 Examine the interrelationships of operations management with the other functions within an organisation
LO2 Explain the importance of operations management in achieving effective organisational performance
LO3 Investigate the importance of quality management and continuous improvement for optimising organisational performance
LO4 Assess the role of supply chain management in supporting an organisation to satisfy customer requirements.
TextBook Name:
COLE, G. A. and KELLY, P. (2020) Management Theory and Practice. 8th Ed. Andover: Cengage.