Operations management is the process of administering, managing, and altering business practices to boost productivity and maximize profit . It involves overseeing, coordinating, and designing business operations to improve efficiency and effectiveness . Operations management influences every part of how a company is run, including how a product or service is produced, how efficiency is tracked and improved, and how the bottom line is contributed to .
The goals of operations management are about maximizing the organizations efforts, mainly around producing goods and/or services and managing the supply chain and infrastructure. The focus is on controlling costs, maximizing profitability, and properly allocating resources . Operations managers seek to reduce operating costs by coordinating business tasks, ensuring qualified people are in the right positions, and continuously monitoring performance metrics .
There are different types of operations management such as business management vs. operations management. Operations management process involves formulating strategies and taking actions to optimize production and supply chain performance .
Best practices for operations management include creating tasks and subtasks, attaching relevant documents, adding assignees and deadlines for task management. Workflow management involves creating and automating business operation workflows .