Realized 1031 Glossary of Terms

Operations Management

Written by The Realized Team | Jun 27, 2022 12:00:00 PM

Operations management is a monitoring activity with the goal of increasing operational efficiency. This means cutting out waste while maximizing revenues. As a company creates finished products from materials and labor, operational management monitors this entire process for any inefficiencies. Once inefficiencies are identified, operational managers suggest methods for eliminating them.

Some examples of company activities that operational management is concerned with include plant/factory maintenance, input procurement, inventory and raw materials shipping, inventory control, quality assurance, and equipment maintenance. As you might imagine, an operations manager must understand all facets of the business, along with local and global trends as they relate to the business.