A primary role of management is to lead an organization in its day-to-day operations as well as to maintain its as a viable entity into the future. Quality has become an important factor in success in this latter strategic responsibility. TQM finds out what the customers want. Customers include both the internal customer (the next person in the process) as well as the … [Read more...] about 15 Key Elements of Total Quality Management in a Business
Manufacturing and Production
11 Key Benefits and limitations of Benchmarking
Benchmarking is defined as "measuring our performance against that of best in class companies, determining how the best in class active those perform care levels and using the information as a basis for our own company's targets strategies and implementation. What is Benchmarking A benchmarking is a point of reference against which things are measured. In business, … [Read more...] about 11 Key Benefits and limitations of Benchmarking
5 Competitive Priorities in Operations Management
The key to developing effective production. Operation strategy lies in understanding how to create or add value to customers. Specially value is added through the competitive priority or priorities that are selected to support a given strategy. There are five basic competitive priorities. They are: Cost: Providing low-cost products. Quality: Providing … [Read more...] about 5 Competitive Priorities in Operations Management
Top 8 Competitive Dimensions of Operations Management
Companies, either manufacturing goods (tangibles) or offering services (intangibles) must be competitive to sell their goods or services in the marketplace. In the present era of globalization, any progressive company can not restrict its operations to the domestic market only. A global marketplace for goods and services involve more customers and more intense … [Read more...] about Top 8 Competitive Dimensions of Operations Management
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