Group 04

TERM PAPER
ON
PRODUCTION AND
OPERATIONS
MANAGEMENT
Group Members

ID Name

2223032063 MD ABUL KHAIR

2223032070 MD. NAYEM RAHMAN DOYEL

2223032093 TAMANNA NISHAT RINI

2223032094 ABDULLAH AL HASSNAIN

2223032097 GALIB AHMED

Table Of Content
Question 01
What is Operations Management? What are the objectives of Operations
management? Explain with example

Question 02
Identify current trends in business that impact operations management with
example
Question 03
Choose any scope of operations Management and how it’s been implemented in
your respective organization.

Question 04
Identify the improvements or changes occurred in any organization by applying
any scopes of operations Management

Question 05
What are the flaws of operations Management or challenges?

Question 06
What have you learnt from operations Management and how it is going to impact
your professional career?
 What is Operations Management?

Operations management is the planning, organizing, and oversight Creates goods and services

of business practices that maximize efficiency and assure company

processes are driving value. It involves preparing and supervising
the practices that turn resources such as labor, equipment, and raw Planning & Coordinationg
Resource
materials into goods and services.

Present: Service and product

.Operations management is- Oriented organization

• the management of systems or processes that create goods

and/or provide services.
• the part of a business organization responsible for planning Transforming inputs into
outputs.
and coordinating the use of organization’s resources to convert
inputs into outputs.
Maximize Efficiency
 Objective of Operations Management

• Cost Management • Risk Management

⚬ Cost Reduction ⚬ Supply Chain Resilience
⚬ Efficiency ⚬ Contingency Planning
• Quality Management • Resource Utilization
⚬ Product Quality ⚬ Capacity Planning
⚬ Process Quality ⚬ Inventory Management
• Customer Satisfaction • Environmental Sustainability
⚬ Timely Delivery ⚬ Green Operations
⚬ Customer Experience ⚬ Resource Conservation
• Flexibility and Responsiveness • Employee Satisfaction and Development
⚬ Adaptability ⚬ Workforce Training
⚬ Responsiveness ⚬ Workplace Safety
• Innovation • Strategic Alignment
⚬ Continuous Improvement ⚬ Alignment with Organizational Goals
⚬ Technology Integration ⚬ Competitive Advantage
 Current Trends in Business that
Impact Operations Management

Growth of e-commerce Digitalization and automation Sustainability and green Resilient supply chains
operations

Agile and adaptable Remote workforce

production techniques management
 Scope of Operations Management

Forecasting Managing Inventories

Capacity Planning Assuring Quality

Scheduling Motivating & Training

Locating Facilities
Implementation of OM Scope in SMC

To respond to this topic, I choose the "Managing Inventories” as one of

the scopes of operations management.

• Managing inventories involve coordinating the flow of goods and

information from suppliers to manufacturers, distributors, retailers,
and ultimately, to the end customer.
• As a part of effective inventory management, my organization
Social Marketing Company (SMC) aims to balance the costs
associated with holding inventory against the benefits of having
products available when and where they are needed.
 Implementation of OM Scope in
SMC (Cont.)

Demand Planning RM-PM Purchase Inventory Counting System

• At the beginning of a fiscal year, the
Marketing department provides yearly and
monthly sales forecasts for every product
• Forecast analysis
• Central Warehouse provides a list of the
available national stock of every finished
good product.
• An alignment is made between the sales
projection and available stock
Indent for RM & PM procurement is raised SMC follows periodic systems for inventory
based on: counting. The count of inventory is physical and
• Production Plan made at periodic interval. CWH provides:
• Current Stock • Monthly/weekly stock report
• Safety stock • Consumption of stock of last month
• How many days the pipeline material (on
order stock) will cover?
• The lead time
Changes Occurred in ‘ABC’ Organization by Applying
a scope of Operations Management - Forecasting

Moving Average
First, they used moving average. It is the Technique that averages a number of recent
actual values, updated as new values become available. From the method, they got a result

Weighted Moving Average

Then they used weighted moving average. Which is more recent values in a series are
given more weight in computing the forecast.

Exponential Smoothing
Lastly, they used exponential smoothing. A Weighted averaging method based on previous
forecast plus a percentage of the forecast error.

Improvement
• ABC Company found drastic improvements in different phases like: Accounting
finance, MIS, supply chain, operations, marketing, HR etc.

• Now ABC can engage minimum resources to extract maximum output and for this, e
profit margin of ABC has reached a new level.
 Flaws of Operations
Management
Rapid Technological Changes Cultural and Human Resource
Challenges
Example: Bangladesh's burgeoning garment industry
might face challenges in operations as automation and AI- Example: Implementing a new software system in a
based technologies become prevalent, necessitating Bangladeshi firm might face resistance from older
operational overhauls. employees unfamiliar with digital tools

Supply Chain Complexities Inadequate Data and Analytics

Example: A textile factory might have efficient operations Example: A retail chain in Dhaka might want to optimize
in terms of output but may be criticized for water its inventory based on sales data but might struggle due to
pollution or poor working conditions. inconsistent or inaccurate data recording.

Short-term vs. Long-term Focus Evolving Consumer Demands

Example: A traditional handloom business in Bangladesh
Example: To meet quarterly targets, a company might cut might face operational challenges with the rise in demand
corners in production quality, leading to reputational risks for modern designs or synthetic fabrics.
in the long run
 Challanges of Operations
Management
Forecasting Strategic Capacity Planning
Example: A toy manufacturer might forecast high demand
for a certain toy based on last year’s sales, only to realize Example: A hotel chain might expand capacity in a
that trends have changed, and children now prefer a popular tourist destination. If geopolitical issues arise or a
different type of toy. natural disaster occurs, resulting in a drop in tourism, the
chain might struggle with low occupancy rates.

Productivity Process Selection and Facility Layout

Example: An automotive plant may introduce a new
technology to improve productivity, but if employees are Example: A manufacturing company might opt for a
not adequately trained or resistant to change, productivity process optimized for mass production. If market demand
might decline instead of improving. shifts to wanting more customized products, the company
might struggle with its rigid production process.

Inventory Management
Example: A clothing retailer might stock up heavily on
winter wear based on a forecasted cold season. If the winter
turns out milder than expected, the retailer could face high
holding costs for unsold stock.
Thank You
F o r Yo u r A t t e n t i o n