Operations Management: Concepts and Applications Murphy & Moore Publishing

Operations management is a management discipline that attempts to create the highest possible level of efficiency within an organization. It focuses on converting materials and labor into goods and services as efficiently as possible to maximize an organization's profits. The main objective of operations management is to balance costs with revenues to achieve the highest net profits. It utilizes all kinds of resources available to a business such as personnel, materials, equipment, and technology to manage various strategic issues, such as determining the size of manufacturing plants and project management methods and implementing the structure of information technology networks. Operations management involves the use of various inventory models such as the economic order quantity model, the journal vendor model, the periodic review model, etc. to ensure minimal waste of raw materials. Sectors covered in this field include banks, hospitals, and businesses. This book uncovers innovative aspects of operations management that will be crucial for a holistic understanding of the subject. Some of the diverse topics covered in this book touch on the different branches that fall under this category. For anyone interested in operations management, this book can prove to be an indispensable guide.