Production and Operations Management

Production and Operations Management (POM) is concerned with the management of resources and activities that produce and deliver goods and services for customers. Efficient and effective operations can provide an organization with major competitive advantages since the ability to respond to customer and market requirements quickly, at a low cost, and with high quality, is vital to attaining profitability and growth through increased market share. As competition becomes fiercer in an increasingly open and global marketplace, a company's survival and growth become greatly contingent on its ability to run its operations efficiently and to exploit its resources productively. The course focuses on the basic concepts, issues, and techniques for efficient and effective operations. Special emphasis is placed on process improvement and supply chain management. Topics included are operations strategy, product and service design, process design and analysis, capacity planning, lean production systems, materials and inventory management, total quality management, project management, and statistical process control. All chapters are related either with marketing, management, analysis of business data, probability and its impact to choose alternatives and finally with profit maximization or with cost minimization. As we know the ultimate objective of any company is to increase productivity which in terms related to maximize profit or to minimize cost, so the topics of this course are the activities of operations management related to start up any business through brain storming and design a outline of that business starting from Strategy Formulation and end with Quality Management. In between different steps of process like inventory management, make or buy options, break-even analysis, process selection, time management, statistical decision theory and process control are discussed. I am grateful to the authority of The Daffodil International University Press for providing me the opportunity to write and publish the thought of the lectures in written form which will ultimately eliminate the gap of knowledge between teachers and students