Operations Management involves the design and management of an organization’s systems and processes. Here, organizations will be focusing on the creation and delivery of products and services. This includes such functions as capacity planning, inventory management, logistics management, production planning and control, resource allocation and total quality. Career opportunities exist in consulting, manufacturing, retailing, service organizations and government CITATION Rob12 \l 1033 (Robert H. Smith School of Business, (2012)). Operation is that part of as organization, which is concerned with the transformation of a range of inputs into the required output (services) having the essential quality level. Management is the process, which combines and transforms various resources used in the operations subsystem of the organization into value added services in a controlled manner as per the policies of the organization CITATION Kum09 \l 1033 (Kumar, c2009).
Many changes have been taken place in the area of operations management. Operations have been evolved from industrial revolution to internet revolution. The Industrial Revolution was a period from the 18th to the 19th century where major changes in agriculture, manufacturing, mining, transport, and technology had a reflective effect on the socioeconomic and cultural conditions starting in the United Kingdom, and then subsequently spreading throughout Europe, North America, and eventually the world. The Industrial Revolution, which took place from the 18th to 19th centuries, was a period during which mainly agrarian, rural societies in Europe and America became industrial and urban. Prior to the Industrial Revolution, which began in Britain in the late 1700s, manufacturing was often done in people’s homes, using hand tools or basic machines. Industrialization marked a shift to powered, special-purpose machinery, factories and mass production. The iron and textile
References: BIBLIOGRAPHY l 1033 Chavan, J. (2013). Internet banking- benefits and challenges in an emerging economy. International Journal of research in business , 19-20. History.com. (c2014). Retrieved September 20, 2014, from History.com Web site: http://www.history.com/topics/industrial-revolution Ironboundpress.com. (). Retrieved September 20, 2014, from Ironboundpress.com Web site: http://www.ironboundpress.com/pdf/intrev-chap0.pdf Kumar, S. a. (c2009). Operations Management. Delhi: New Age International . Nsouli, S. M. (2002, September 1). International monetary Fund. Retrieved September 20, 2014, from International monetary Fund Web site: http://www.imf.org/external/pubs/ft/fandd/2002/09/nsouli.htm Robert H. Smith School of Business. ((2012)). University of Maryland. Retrieved September 20, 2013, from University of Maryland Web site: http://www.rhsmith.umd.edu/programs/undergraduate-programs/academics/academic-majors/operations-management Rohini A. Patil, A. D. (2014). Scopemed. com. Retrieved September 20, 2014, from Scopemed. com Web site: http://www.scopemed.org/?mno=149470 Sugianto, I. A. (n.d.). From industrial revolution to internet revolution.