Operations Management in business

1
Operations Management in Business
2
Table of contents

• Introduction
• What are 3 Es?
• Importance of 3 Es
• Impact of the tension between Cost minimization
  and Quality maximization
• Significance of performance objectives
• Conclusion
• References

3
Introduction

• The presentation on Operations management
  includes the discussion about 3 Es, PESTLE
  analysis of Prêt A manager and also the 5
  important performance objectives will be
  discussed.

4
What are 3 Es?

• 3 Es refers to Economy, Efficiency and
  Effectiveness.
• These 3s results in excellence in the business.
• Economy refers to doing things in the most
  economic way which includes managing resources
  thereby minimizing the time and cost incurred.
• Efficiency means doing things well and minimizing
  the wastes and providing best services
• Effectiveness means doing things well which
  brings customer satisfaction

5
Importance of 3 Es

• 3 Es helps in developing new ideas and bring
  innovation
• They help in reducing costs and increasing the
  profits
• It helps Prêt A manager to keep environment clean
  by reducing the wastes
• Helps in develop good relationships with the
  customers

6
Impact of the tension between Cost minimization
and Quality maximization

• It can be measured by PESTLE Analysis
• It includes Political, Economical, Social,
  technological, environmental and Legal problems
• Political- The stake of McDonalds in the company
  increased its political power and it opened many
  stores worldwide.
• Economic- The company has to recall its stores in
  Japan due to the hit in the economy

7
Cont

• Social Fresh and organic food products creates
  its clan image in the minds of people
• Technological- the company is using latest
  software's and technologies to reduce its costs
• Environmental- The company is environment
  conscious and uses natural products instead of
  preservatives
• Legal- The suits against the company filed by the
  customers

8
Significance of Performance objectives

• Five elements to be considered for customer
  satisfaction in Prêt A manager are
• Quality- It makes quality products to maintain
  health of the customers.
• Speed- Different technology used increases the
  peed of the process of production
• Dependability- Here, team works in a team to
  deliver the products on time
• Flexibility-The business is able to respond to
  the changes in industry
• Cost- The company aims at reducing costs and
  wastage so that profits can be maximized

9
Conclusion

• The presentation can be concluded by stating that
  operations management is the necessary part of
  the business which helps in bring effectiveness
  in the business and also helps in reducing costs
  and increasing the profits

10
References

• Collier, D.A. Evans, J.R. 2014, OM operations
  management, 5th student 5. edn, Cengage
  Learning Australia, South Melbourne, Vic.
• Heizer, J.H. Render, B. 2008, Operations
  management, 9th edn, Pearson Prentice Hall, Upper
  Saddle River, N.J.
• Hill, A. Hill, T. 2012, Operations
  management, 3rd edn, Palgrave Macmillan, New
  YorkHoundmills, Basingstoke, Hampshire.
• Kolli, S. (2011). Production Operations
  Management Essentials. New Jersey Research and
  education association.

11
Contact Us
help_at_hndassignments.co.uk
https//www.facebook.com/hndassignmentsuk
http//hndassignments.co.uk