FUTURISTIC TRENDS IN OPERATIONS MANAGEMENT

Abstract:

IT advancements, globalisation of markets, decentralised operations, and environmental concerns have forced industry to reconsider efficiency and quality strategies and approaches, including operations management (OM). An Operating System combines resources to provide products or services. Operating systems are used by retailers, hospitals, transport and taxi services, tailors, motels, and dentists. To assure the expected output, an organisation compares feedback data with previously defined criteria to determine if corrective action is needed (control). Goods and services often coexist. Changing your car's oil is a service, but the oil is a good. Similar to home painting, paint is a good. Goods-services are continuous. It might be dominated by commodities or service. Companies sell product bundles because there are few pure items or services. These product bundles combine products and service manufacturing. This makes operations management intriguing and difficult. This problem requires rethinking education and training. In the early years, Japanese productivity and quality pushed enterprises in other nations to consider their own productivity and quality issues. OM developed from mass manufacturing to mass personalization. To compete in the global market, corporations have deployed new operational strategies, techniques, and technology.