1.

Operations management
explores the way organizations
produce and distribute goods
and services. It is
2. the systematic development
and control of the process that
transform inputs into outputs.
1.What is Operation Management?  

Operations management examines how businesses generate and deliver goods

and services. It is the systematic development and monitoring of the process through
which inputs are transformed into outputs. Operations management includes planning,
managing, and supervising processes in order to improve profitability. The changes in
daily operations must complement the company's strategic goals, so they are prepared
by a deep examination and measurement of the current procedures.

https://www.studocu.com/row/document/city-university/operations-management/
operations-and-productivity/9599581

2.  What are the concepts of Operation Management.

Traditionally ‘production’ or ‘manufacturing’ management has been used to imply

production of physical goods, which are tangible in nature, such as automobiles,
computers, televisions, camera, furniture, equipment, etc. During recent decades,
‘services’ that are ‘intangible’ in nature but also satisfy needs of a customer have grown
rapidly. Operations management refers to planning, organizing, and controlling all
resources and activities to provide goods and services, which applies equally to
manufacturing and services in the private and public sectors and even governments.

https://www.yourarticlelibrary.com/management/operations-management/
operations-management-concept-and-globalization/77094

3.  What are the key elements of Operation Management

Plan of Action/Strategy- This refers to planning methods that can support in the
optimization and development of an organization's various assets.
Product Design - One of the primary roles in operations is to ensure that a product is
appropriately created and caters to market qualities and consumer preferences.
Modern buyers value quality above quantity, which is why it is necessary to boost a
long-lasting and high-grade fine product.
Finance- Finance is a critical component of operations management. It is important to
ensure that all funds have been used to their optimal capacity and that all operations
are being completed correctly in order to provide the most efficient delivery of goods
and services. Proper budget usage will enable the creation of a product or service that
will meet the needs of consumers.
Operation- This operational element is primarily concerned with the planning,
organizing, directing, and managing of all aspects of the organization. This is a core part
of operations management because it ensures that all resources are used to their full
potential.
Forecasting- Forecasting is the technique by which managers estimates certain
occurrences that may occur in the future based on the previous economic events.
Forecasting in operations management can take an estimate of customer demand,
which connects with sustainable product manufacture. Overall, forecasting is an
important part of the manufacturing process.

https://www.linkedin.com/pulse/key-elements-operation-management-tushar-singh

4.  What are the trends in Operation Management.

Global and local Competition- brings pressure to the business to improve the
performance and reach the goal which is maximation of profit.
Management Workers Involvement- The smooth operations of any organization
depend on their employee.
Health and safety- In recent times, when health is important, companies should
prioritize employee safety. Ensure that your company's existing activities are in accordance with
safety standards. Incorporate operations management tools to aid in the maintenance of health
and safety standards.
 Demand Responsiveness Improvement- The focus of operational managers should be
focused on the needs of their customers.
https://www.slideshare.net/PrinceJha1/latest-trends-in-operation-management