THIS ARTICLE WAS UPDATED ON 21/JUNE/2020
Production and operation are some very common terms but still many people are confused about them.
So let’s clear all the doubts regarding production and operation.
Production means producing the goods and services so that in the end, users can consume the same. It is the process of raw materials to the result.
The word operation does not mean that a person is being operated or is in a hospital, operation also stands in the business world. It means the very process in which coordination, cooperation, staffing, organizing, managing, and controlling is done to help in the production center so that the final good or product is made without any defection.
Moving on with the same, Post Graduate Diploma in Management or PGDM in Production and Operation Management covers all those topics that are necessary to a person who wants to step in the world of business.
The process of producing a product and managing the process in a way that the result is perfectly completed as per the objectives held from the beginning is what is taught in PGDM in Production and Operation Management.
PGDM in Production and Operation Management revolves around the following subjects to make the students understand the various methods, processes, and all kinds of information required in Production and Operation Management.
There is a strategy for everything. To bring out an impressive result, a strategy is required so that everything occurs in a smooth process without any disturbance. Similarly, in the business world, various operations in different fields require strategies to make them work.
The strategies are generally set up by the manager. The manager is the one who directs the whole team and makes strategies so that the operation can be successful. He or she is the one who directs, manages, organizes, strengthens the team so that it works in a coordinated manner. The various types of strategies or how a strategy needs to be implemented on a project is what is taught under the same.
Operations research is a subject that helps in decision-making and as the business is evolving to be customer satisfaction kind of thing, this field is offering more opportunities to the students. Decision making and new ideas are always welcomed when it comes to research.
Research is a very important subject to find the factors that can shoot up the market in a second.
With the help of research, many objectives and confusions can be cleared out and any organization can go to the next level.
This subject tells the various methods of doing research and analysis. Research is such a wide concept that it upholds a separate course in PGDM. So for those students who have a keen interest in Research and Business Analysis can pursue this course.
The supply chain of a corporation works on the following framework:
In this, the decision is made with the help of the suppliers and customers. A supplier knows which product is more feasible to the market. Taking his suggestions at the time of decision-making can be helpful and suggestive.
As I have mentioned the main framework above, this is how it works.
The production and operation management works in the following steps:
Step 1: Firstly a plan is generated because without a plan there is no objective, no motive, and no principles, so making a secured plan is the first rule in operation.
Step 2: Secondly the “source”. Here, the source is from where the raw materials are being brought for a study.
Step 3: Thirdly there is “make”. Here, the production plays a major role. The main process of production begins from here and how the input is generated to process it into output.
Step 4: Then it’s “deliver”. Delivering the produced output to the end-user.
Step 5: The final stage is “return”. Here, the return can be accepted as a feedback session so that a more improvised product can be made for the next time.
As we have discussed above production, plays a major role in converting the input into a wonderful output. Planning and controlling are covered under the subject of operation. Without a plan, production is absent, because if the agenda is not identified then how can the production be held?
Planning and controlling are alike, though they have different meanings and different roles. Planning is done from the beginning, which defines the objectives, principles, and mission.
Controlling can be defined as making sure whether the whole operation is moving smoothly and according to the plan.
So production, planning, and control are the three features that have great importance in operation management.
Due to the upcoming technology, wide changes are taking place. The employees have to cope up with the modernization or else it wouldn’t be beneficial for their careers.
Technology and innovation are very important aspects when it comes to the development of a new product. As the time is changing and so is the technology. From the iPhone 5s to iPhone x a lot has changed, and to create a new product, innovation is required to its fullest.
The use of technology is crucial so that the product satisfies the user and becomes a major boom for the corporation. Just like one person can bring a change, one product can save the company from drowning only if it is made with 100% precautions, efforts, innovation, guidance, objectives, and the correct use of technology.
So, PGDM in Production and Operation Management can be very helpful to the students to gain knowledge and sharpen their skills before entering the industry.