Operations Strategy

Operations Strategy:

1. Lean Production: Minimizing waste while maintaining productivity; includes methods like Kaizen and Just-in-Time (JIT).

2. Just-in-Time (JIT): Inventory system where materials are only ordered and received as needed.

3. Enterprise Resource Planning (ERP): Integrated management of main business processes, mediated by software and technology.

4. Quality Management: Ensuring products/services meet customer expectations. Includes Total Quality Management (TQM) and Quality Assurance (QA).

5. Supply Chain Management: Managing the flow of goods and services from suppliers to customers.

6. Inventory Management: Techniques for managing stock levels efficiently, such as Economic Order Quantity (EOQ).

7. Capacity Utilisation: Measure of how much of the production capacity is being used.

8. Location Strategy: Deciding on the optimal location for business operations to reduce costs and maximize efficiency.

9. Technology and Innovation in Operations: Implementing advanced technologies to improve efficiency and production.

10. Crisis Operations Management: Strategies to maintain production and service delivery during disruptions.