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Available courses

SUPPLY CHAIN OPERATIONS

INTRODUCTION

Introduction to Operations Management

Operations Management (OM) is the area of management concerned with designing, overseeing, and improving the processes that produce goods and services. It involves the planning, organization, coordination, and control of all the resources—human, financial, and physical—required to transform inputs (such as raw materials, labor, and information) into finished products or services that meet customer needs.

The main goal of operations management is to ensure that an organization’s operations are efficient, effective, and aligned with its strategic objectives. This includes managing quality, productivity, cost, and customer satisfaction. Operations managers make key decisions related to production planning, inventory control, quality management, supply chain coordination, and process improvement.

In today’s competitive and globalized business environment, effective operations management plays a vital role in achieving organizational success by minimizing waste, optimizing resource use, and delivering value to customer.

STRATEGIC SUPPLY CHAIN

Introduction to Strategic Management

1. Definition
Strategic Management is the process of formulating, implementing, and evaluating decisions that enable an organization to achieve its long-term objectives. It involves analyzing the internal and external environments, setting goals, and developing strategies to gain a competitive advantage.

2. Purpose of Strategic Management

  • To provide direction and purpose for the organization.

  • To ensure the organization adapts to changing environments.

  • To help in efficient resource allocation.

  • To achieve sustained competitive advantage.

  • To align organizational activities with the mission and vision.

3. Key Components of Strategic Management

  1. Environmental Scanning – Analyzing internal strengths and weaknesses and external opportunities and threats (SWOT analysis).

  2. Strategy Formulation – Developing long-term plans based on analysis (e.g., corporate, business, and functional strategies).

  3. Strategy Implementation – Putting chosen strategies into action through policies, programs, and resource allocation.

  4. Strategy Evaluation – Monitoring performance, measuring results, and making necessary adjustments.

4. Levels of Strategy

  • Corporate-Level Strategy: Focuses on the overall scope and direction of the organization (e.g., diversification, mergers).

  • Business-Level Strategy: Focuses on how to compete successfully in particular markets (e.g., cost leadership, differentiation).

  • Functional-Level Strategy: Focuses on specific functions like marketing, finance, or operations to support higher-level strategies.

5. Importance of Strategic Management

  • Improves organizational performance and decision-making.

  • Enhances the firm’s ability to anticipate future challenges.

  • Encourages proactive rather than reactive management.

  • Helps in achieving organizational goals efficiently.

  • Facilitates coordination and communication across departments.

6. The Strategic Management Process (Simplified Steps)

  1. Define vision, mission, and objectives.

  2. Conduct environmental analysis (SWOT/PESTEL).

  3. Formulate strategy.

  4. Implement strategy.

  5. Evaluate and control outcomes.

7. Examples of Strategic Decisions

  • Expanding into a new market.

  • Launching a new product line.

  • Investing in technology.

  • Forming strategic alliances or partnerships.

practice Economic skills

Introduction to Economics

modern economy displays a division of labor, in which people earn income by specializing in what they produce and then use that income to purchase the products they need or want. The division of labor allows individuals and firms to specialize and to produce more for several reasons: a) It allows the agents to focus on areas of advantage due to natural factors and skill levels; b) It encourages the agents to learn and invent; c) It allows agents to take advantage of economies of scale. Division and specialization of labor only work when individuals can purchase what they do not produce in markets. Learning about economics helps you understand the major problems facing the world today, prepares you to be a good citizen, and helps you become a well-rounded thinker.

conduct public procurement