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Word Count: 439
Operations management is the key to a successful business strategy quite lucently because operations management is the soul of business Simply put operations management is concerned with the value adding process of converting inputs into outputs Converting inputs into outputs is all any business can do Whether your business is electronic-based or a traditional brick-and-mortar building your supply-chain goals are the same -- to efficiently deliver goods and services to your customers in the right quantity at the right time in the right place at a competitive cost However the rapid growth of B2B e-commerce and electronic trading exchanges is creating new challenges for supply-chain performance The global visibility enabled by the Internet providing many companies with access to new markets also enables new competition Customers are demanding shorter lead-times and higher reliabilityIn the past supply-chain inefficiencies resulting from disconnected processes had often been concealed through inventory buffers As a result operating and financial performance suffered Factories needed higher inventories to offset poor planning and lack of forward visibility Assets were not fully utilized with labor and equipment either bottlenecked or idle Rescheduling and expediting became the norm rather than the exception with a significant negative impact on operating efficiency The wrong product was often produced at the wrong time consuming valuable capacity needed to produce the right product In the new electronic trading environment these inefficiencies can no longer be concealed An efficient effective operations management strategy is what is now needed more than ever for aspiring corporations5 Core Objectives of an Operations Management StrategyaDecrease Cost- This is of paramount importance to any business in this age of rapidly rising overheads and labour Cost savings drop straight to the bottom line where it matters most Labour costs and more importantly efficiency are a source of vicious scrutiny by managers world wide The increased use of automation is helping them in their quest to lower costs The materials cost saving associated with B2B commerce are
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