msc chemistry scope in india
Scope of M.Sc.Chemistry in India- Courses, Fee and Careers
October 28, 2020
work experience in resume
What to Write Under Section Work Experience in Resume / CV- Easy Guide
October 28, 2020
Production & Operation Management

Explained- Production and Operations Management (A detailed report)

 

Industrialization has changed the world completely. Over the years the lives of people and their living standards have uplifted miraculously just because of industrialization. Production and operations management are the gears in the whole industrial revolution. The production of products and utilities build the foundation of industries. Moreover, the commonwealth and people from every corner of society widely use these.

Understanding the core of Production and Operations Management

Consumption of goods and utilities has increased over time with an exponentially growing population. Therefore, there is a need for continuous production and stocking the goods. Continuous production comes with several critical issues like technical faults, overworked machinery, fatigue among human resources, and several other functional and operational issues.

So, to handle these issues operations management comes into play. It works as a backbone to production by three steps. Firstly, by working parallel from the input of raw materials. Secondly, by processing the raw materials. Thirdly, by producing the final product and delivering it to the final customer. Production processes are optimized by the operations management team so that there is less investment of resources with maximum profitability.

Decisions are the tools to execute the biggest plans with a sheer will to get success. In the case of industries related to products or services, factors like gaining profits as well as customer satisfaction influence the decision making. This is because a customer has the power to make a business or break it totally.

A good decision can change the fate of the industry. It will bring in maximum profits which will flourish the business. On point and exact decisions that are taken at the correct time doubles the monetary benefits. In conclusion, it can make greater and positive impacts on the total profits of the industry.

The production and operations management team are the ones making critical decisions for the industry in the field each day for greater optimization.

Production and operations management involves three very important and vital decisions. At different stages over the course of time, such decisions are made. Mentioned below are the 3 different decisions, for instance:

Production and Operations Management

Production Planning

Planning helps to chalk out the master plan for optimized and effective production. Managers face initial challenges in deciding the foundation factors for production. Production planning is done in such a manner that production takes lesser resources in the easiest manner. Also, it produces maximum products and services to increase the net profit of the industry.

Production planning gives rise to a few basic questions. For instance, WHEN will the production start and how many times during a financial year keeping in mind various conditions, Along with this, WHERE will the production begin keeping in mind the strategic location according to the geography. One must also remember the lesser needs of logistics to reduce logistic expenses for carrying the raw materials to the production site and transporting the finished product to the market place.

HOW the production will take place is the last question that arises. For this query, initial strategy to start the production is discussed. Further, for the production, everything related to technical and human resources are discussed. Planning sets up the building blocks in place to start a production that is highly efficient and rewarding for the industry.

A production team for the best production planning in the initial years of the industry is set up. This team must include production managers, finance managers, human resource managers, and legal managers. Moreover, they are the ones who know better and can contribute their years of knowledge into best decisive policies. Production planning is one of the initial steps to formalize an industrial fortune.

Production Control

Control can bring stability and lesser chances of risk in an industry. Informed decisions are the tools of production control. The industry manager or the production manager does quality and cost control. Apart from this, he also responsible for scheduling the day to day activities during production in an industry. Quality control of the product or service paves the way to customer loyalty and goodwill in the market.

A customer always wants the best product with the least prices and quality that always grows and not decreases with time. Hence, the production managers should always keep a check on quality control. Along with this, he also trains the human resources and the new hires about the importance and mandate of quality assurance. Cost is something on which the industry runs. This is because the monetary resources are finite and any leak in the cost structure may be drastic for the industry. Therefore, the financial managers should time to time do audits and install checks and balances at every stage of the industry. This can help reduce the chances of any cost related problem and eliminate the possibility of financial leaks.

A lack of discipline leads to deficits which are proven to be critical. This is because the firm makes the scheduling of day to day activities in the industry important. A production manager ensures that targets are reached by the end of the day and deadlines are followed strictly. To eliminate the chances of defiance in duty, he also makes sure that the defaulters are probed.  Moreover, to ensure the profitability of the industry a strict plan is chalked out.

 

Become a Subject Matter Expert

Improving Production and Operations

Up-gradation and diversification is the new trend prevalent in the industry as the number of competitors is growing rapidly. To counter this, a production and operations management team should gear up by upgrading the existing methodologies and technologies used for the production.

New technology makes the production line more efficient. It does so by producing more products in lesser time and utilizing lesser resources with the least waste produced. Today industries are even recycling their waste to produce new products and hence increasing the net profit of the companies.

How is the modern era changing this industry?

New technologies like the Internet of Things, Machine Learning, and artificial intelligence are emerging. Nowadays, industries are inculcating these into the production lines and other management operations in the industry. It helps in optimizing the whole process from head to toe. It can help monitor and alerting processes; machine learning and artificial intelligence can automate the industry and reduce human resources resulting in reduced expenses and greater profits.

Improving the operations from time to time saves the industry from disruptive new products in the market. It also helps to stay relevant to the end customer. The production and operations management team ensures tasks like the work of improving the production techniques. And, also ensure that each employee realizes the value of the need of the hour to expand, to upgrade, and grow each day using modern tactics and skills. In case the industry fails to adopt the new techniques, the product can also lose its acceptance in the market. Moreover, it can be overthrown by other competitors. To sum up, improving the production and operations management will take the company to the next level of unimaginable success.

The above mentioned three decisions go hand in hand for the growth of industry. It also ensures industry stabilization over the years with strong market grip and customer acceptance and loyalty.

When we talk about production planning then we have various verticals which we need to consider. These are based upon the term for which we are planning. So there are three types of planning which are-

Short Term Planning

This is a method of planning of the term up to a year for all the urgent needs of the industry. It is related to the raw materials, the processing technology as well as the final delivery mechanism. The managers of each section of the industry carry out this method on the basis of the daily inputs.

Shorter terms chalk out plans accordingly. In the beginning, on the basis of these plans the executions are carried out. Further, other short-term planning is done on the basis of earlier executions. Feedback’s are the foundations of short term planning. This short term planning run day to day activities of the industry and helps to ensure that all operations are in line and optimized completely.

Medium Term Planning

Medium-term planning is a method to make decisions for a period of about two years. These plans help to run activities related to campaign production that lasts for a duration of about two years.

This method is useful if an industry decides to produce a product for a span of about two years based on the condition of the market. It may be related to recession period or due to any pandemic or any other periodic cause. In that case, the managers from each part of the industry come together to do medium-term planning for optimized production and operations management over a period of about two years.

Long Term Planning

The term planning in long-term planning is for three to five years. It is related to matters of utmost importance. The sources of raw materials, the goods that are to be produced, how the goods should be produced, where the goods should be produced, and so on, are some elements that largely affect this method.

Long term planning basically outlines the whole structure of the industry. It does so by providing insights into the future of the industry with the help of past and present data points collected from each aspect of the industry.

The top-level executives of the industry initiate the long term plans. This is because they want to drive the industry through all the disruptive technologies and reach the top and gain maximum profitability by using the most optimized methods for production and operations management.

Term based planning becomes useful in order to separate priorities of the industries and invest resources at the right time at the right location. Investing the resources is a very critical task for an industry. Above all, the resources are finite so efficient term planning helps provide a highly efficient production and management operations.

Operations management is the supporting hand of production. Hence, we should be aware of what types of production occur in an industry. Mentioned below are few such types of production-

types of production occur in an industry

Mass Production:

The products are produced in bulk in this technique. Mass production usually utilizes standardized discrete assemblies for continuous processes, which are indeed suitable for a large volume of production. It is generally linked with mind-numbing recurrence with very definite machinery. In addition, human resource pool which is low on skill or creativity is also linked with it.

Continuous Production:

It is a Non-flexible mode of producing products. This category includes a complete sequence of the operations in a definite set-up.

Batch production:

Batch production is a form of manufacturing.The processing of the job occurs through all the functional departments in lots or batches. Although, each lot ought to have a different route of production.

Job Shop Production:

Custom specifications provided by customers for a limited quantity of products characterize this production type. Also, the use of general-purpose machines and more creative and skilled labor affects it.

Productions and operations management jobs are mainly male dominant jobs as they require long work hours and less flexibility. Biggest corporations hire annually employees for productions and operations management. More and more people are required to run the processes. These people then run it in an optimized manner with the growth of the scale of the industry. This helps in consuming lesser time reducing the fatigue among the employees caused due to long work hours.

Skilled or unskilled employees both come in handy. On the basis of their capacity to work, zeal to learn and the temper to implement their skills into the job completely, the employees are appointed. The average salary provided to the productions and operations management employees is 7.2 lacs annually.IT major companies like IBM, TCS and

Amazon is the major recruiters because of the large scale of these industries worldwide.

Part-time Job Opportunities for Production and Operations Management Graduates:

Doing a part-time job helps to gain extra income to handle all the over-budget daily needs. In addition, wants of the people who have deep knowledge of all the core concepts can implement these skills into the practical works of production and operations management around them. Mentioned below are few such jobs-

Subject Matter Expert at Chegg

Chegg hires subject matter experts who solve the queries of students studying abroad. It also helps to earn a good amount of money for each solved question. Moreover, as time goes on the compensation per query also increases. Such people can log on to the Chegg website, give a small test, and then if the test is cleared they are ready to be experts after submission of important documents.

Industry managers at local small scale industry

Graduates with good knowledge of operations management can work in the local small-scale industries. They can also handle the day-to-day operations for the growth of the small industry as well as earn a pretty well income while staying in their own city.

Conclusion

Humongous corporations present all over the world need productions and operations management. This is because they need to sort out their product strategy for the execution of smooth and optimized production. You can study deeply about the production and operations management. Furthermore, you can also look for jobs that are highly paid with numerous perks.

Commercial background students, as well as students from a mathematics background, can work for production and operations management. An industry has a lot of job profiles in every section. Level of the industry starts from the input of raw materials to the processing part and then to the final delivery or quality control team as an instance of the production and operations management.

A well-equipped, skilled, and knowledgeable employee as a part of production and operations management can change the industry and contribute to its success. Production and operations management go hand in hand to keep the industry on track. They help in reducing the expenditure and increasing the production and hence increased the net profitability of the industry.

In conclusion, a good production team and a complimentary and excellent operations management team can be the flag bearers of the success of the industry. Above all, they are the ones who pave the way for stability in the industry. The industry can easily reach its targets and even perform beyond the targets. They can achieve this with the help of the production and operations management team and reach the horizons of success.

 

chegg Expert hiring