Identify three current trends in operations management and describe them. How do you think they will change the future of OM?
Quality Management:Shift from traditional reactive approach of quality control to modern proactive approach of quality management like implementation of philosophies of Six Sigma and Total Quality Management. The goal of quality management is to satisfy customer needs. Quality shall always improve overtime and never become stagnant. Quality Management will have an impact on society in the future in that it will allow for the increase the value for customers of our society, which will in turn better a company’s reputation.
Mass Customization:As competition is increasing and more firms are entering into the market, the market share per firm is reducing and high variety of high quality products for short time production is expected from firms. In order to stay relevant in the market, a company must focus on the philosophy of creating products suitable to their consumers. Mass customization is a marketing and manufacturing technique that combines the flexibility and personalization of custom-made with the low unit costs associated with mass production. Mass customization will have an impact on society in the future in that better products and overall increase in value per unit product. This will result in an overall satisfied consumer market.
Application Information and Technology:Information technology has improved the efficiency of operations to a very large extent and it will impact the operation management in coming future as well. Firms currently have access to point of sale data, which helps a firm, responded to customer demand. I.T decreases the physical inventories in the overall supply chain. Application Information and Technology will have an impact on society in the future in that data will be collected overtime that will allow for a more effective day to day operation
Identify three current trends in operations management and describe them. How do you think they will...
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