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Operation Management in 12 minutes | Leaders Talk | YouTubeToText
YouTube Transcript: Operation Management in 12 minutes
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hey everyone welcome back to our Channel
today we're exploring a key topic That's
essential to the success of any
organization operations management we'll
walk you through what it is its nature
the roles and responsibilities of an
operations manager and its benefits
using real world examples so without
further Ado let's Dive Right In First
what is operations management operations
management or om is the branch of
management that deals with overseeing
designing and controlling the process of
production and Service delivery in short
it's about making sure that everything
is running efficiently and that the
company's resources like labor materials
and Technology are used effectively to
meet customer demand operations
management involves various tasks such
as managing the supply chain quality
control scheduling and inventory
management the goal to maximize
productivity while minimizing costs and
maintaining quality this applies lies to
both manufacturing and service sectors
importance of operations management om
is crucial because it ensures that
businesses run smoothly without it
companies would struggle to deliver
products or Services efficiently leading
to delays higher costs or dissatisfied
customers operations management keeps
everything in balance second the nature
of operations management the nature of
operations management is
multi-dimensional and involves various f
functions like process optimization
resource management and continuous
Improvement one planning and forecasting
the first step in operations management
is planning and forecasting this
involves determining what products or
services will be offered how much will
be produced and when operations managers
need to predict customer demand and
adjust resources accordingly for example
in the retail industry companies like
Zara are known for their fast fashion
model which requires excellent
forecasting and planning Zara can
quickly design produce and deliver new
fashion items based on real-time
customer demand thanks to its efficient
operations management practices two
process design and optimization next is
process design which is about creating
efficient workflows for the production
of goods or delivery of services
operations managers work to streamline
these processes cutting out unnecessary
steps and finding better ways to utilize
resources for example one classic
example is Toyota's lean manufacturing
system Toyota revolutionized the Auto
industry with its efficient production
process reducing waste and improving
quality through techniques like just in
time production and continuous
Improvement three Resource Management
resource management is another key part
of operations management this involves
managing all the resources needed for
production whether that's materials
labor or equipment
making sure they're used as efficiently
as possible for example take Amazon for
instance in their fulfillment centers
they use robots alongside human workers
to manage inventory and process orders
this use of Technology helps them manage
resources efficiently allowing them to
ship millions of products Daily Four
quality assurance operations managers
also ensure that products or Services
meet quality standards this includes
imple imp menting quality control
systems and checking for any defects
before the product reaches the customer
for example apple is known for its
stringent quality control their
production process involves multiple
quality checks at different stages
ensuring that every iPhone that leaves
the factory meets the company's high
standards third duties and
responsibilities of an operations
manager so who's responsible for making
sure all these processes run
smoothly that would be the operations
manager they play a crucial role in the
day-to-day functioning of the business
let's break down the core duties and
responsibilities one planning and
scheduling one of the primary
responsibilities of an operations
manager is planning this includes
everything from scheduling production
runs to ensuring that resources like
labor and raw materials are available at
the right time for example in a
manufacturing plant the operations
manager might plan production schedule
months in advance ensuring that all
necessary materials are in place and
that labor is scheduled efficiently to
meet production deadlines two process
Improvement another key responsibility
is continuous Improvement operations
managers are always looking for ways to
make the production process faster more
efficient and less costly this often
involves using data to track performance
and identify bottlenecks for example
Toyota's commitment to continuous Improv
movement known as Kaizen involves
employees at all levels regularly
suggesting small ways to improve
efficiency this approach has helped
Toyota maintain its reputation for
highquality efficient production three
inventory and Supply Chain management
operations managers are also responsible
for managing inventory and the supply
chain this means ensuring that raw
materials are available when needed and
that finished products are delivered to
customers on time for example Walmart
they have one of the most advanced
supply chain systems in the world using
real-time data to manage inventory and
ensure that products are always
available in stores when customers need
them four ensuring compliance and safety
another important responsibility is
ensuring that all production processes
comply with industry standards and
regulations especially in Industries
like healthcare and Manufacturing or
safety is Paramount for example in the
food industry operations managers are
responsible for making Ure that
factories comply with health and safety
standards this involves regular
inspections training staff and ensuring
that food products are produced in a
safe and clean
environment fourth benefits of effective operations
operations
management now that we know what an
operations manager does let's look at
the benefits of effective operations
management when it's done well it can
lead to massive advantages for a
business first improved efficiency
effective operations management can
drastically improve a company's
efficiency by reducing waste and
optimizing processes this means that
businesses can produce more goods or
services with fewer resources which
directly impacts their bottom line for
example let's look at Tesla's
gigafactory the Automation and
streamlined processes at the factory
allow Tesla to produce electric vehicles
at scale helping the company meet
growing demand while maintaining high
quality standards second better customer
satisfaction operations management also
improves customer satisfaction when
products are produced efficiently and
delivered on time customers are more
likely to have a positive experience
which enhances brand loyalty for example
Starbucks is a great example their
operations are designed to ensure that
every store delivers a consistent
experience no matter where you are in
the world from how their coffee is made
to how fast it's served their efficient
operations ensure customer SA
satisfaction third reduced costs one of
the biggest benefits is cost reduction
by optimizing Supply chains reducing
waste and managing inventory efficiently
companies can save a significant amount
of money these savings can be reinvested
into the business or passed on to the
customer in the form of lower prices for
example Amazon's use of Automation in
its fulfillment centers has
significantly reduced labor costs while
speeding up order processing making a
company more competitive in pricing four
flexibility and adaptability effective
operations management also gives
companies the flexibility to adapt to
changing market conditions whether it's
a sudden increase in demand or a supply
chain disruption businesses with strong
operations can pivot quickly for example
during the covid-19 pandemic many
companies had to quickly adapt to New
Challenges companies like zoom and
Netflix scaled their operations rapidly
to meet the growing demand for remote
work tools and streaming services fifth
challenges and operations management
while operations management brings many
benefits it also comes with its own set
of challenges one managing costs one of
the biggest challenges is managing costs
companies have to find ways to reduce
expenses without compromising on quality
or customer satisfaction for example in
the retail industry operations managers
must balance inventory levels too much
stock ties up capital and increases
storage costs while too little leads to
stockouts and lost sales two supply chain
chain
disruptions supply chain disruptions are
another major challenge whether it's a
natural disaster a global pandemic or
political instability disruptions can
cause delays and increase costs for
example during the covid-19 pandemic
Industries like Automotive face
significant challenges due to
semiconductor shortages operations
managers had to quickly adapt by
sourcing alternative suppliers or
adjusting production schedules three
maintaining quality as companies scale
their operations maintaining consistent
quality becomes difficult ensuring that
products Meet customer expectations is a
constant Balancing Act for operations
managers sixth real-time examples in
various Industries let's now look at
some real world examples of operations
Management in different Industries so
you can see how versatile and essential
this function is first manufacturing
industry example Tesla Tesla's
gigafactory is a perfect example of
operations Management in action in the
manufacturing sector Tesla uses Advanced
robotics Ai and automation to streamline
the production process which allows them
to produce highquality electric vehicles
efficiently their focus on optimizing
operations has help help them become a
leader in the EV Market second service
industry example Starbucks in the
service industry Starbucks is known for
its efficient operations management from
sourcing coffee beans to ensuring that
each store is fully stocked and staffed
Starbucks runs like a well-oiled machine
their operations are designed to ensure
that customers get the same Quality
Service no matter which location they
visit third healthcare industry example
hospitals operations management is just
as important in healthcare hospitals
need to manage patient flow optimize
staff schedules and ensure that medical
equipment is functioning operations
managers and hospitals are responsible
for making sure that resources like beds
medical supplies and staff are available
especially during emergencies or
pandemics like covid-19 so there you
have it a comprehensive overview of
operations management from its core
components to real world examples and
the challenges and benefits it brings if
you found this video helpful make sure
to give it a thumbs up and don't forget
to subscribe for more business insights
thanks for watching see you in the next video
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