“Operations” is a broad business term. Any activity ranging from long term strategy execution to daily accounting tasks all fall under the umbrella of business operations. So, what exactly is ‘Operations Management’?
Investopedia defines operations management as “the administration of business practices to create the highest level of efficiency possible within an organization. Operations management is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.”
Effective and efficient operations management are critical to the long term success of a business. Closely analyzing business operations and improving operational efficiency can save time, effort, and money, ultimately boosting profitability.
If you are interested in learning more about ways to improve the operational efficiency of your organization, fill out the form below for an initial consultation.