OPERATION MANAGEMENT

Operation Management

Operation Management

Operation Management

The main purpose of this paper is to make a description on the operation management of a company. Operations management relates to the design and management of services, supply chains and products, and their supply. The focus of operations management is to make efficient delivery of goods and services to clients possible through development, acquisition and utilizations of various resources. Operations management takes place at all levels in the organization. For instance, it can take place at the tactical, operations and even strategic level. Many companies around the globe are focussing on employing operations management as a tool to provide their valued customers with better products and services, so that they can get their customer lifetime value (Ritzman, 2005, pp 23). There are several issues related to the field of operations management. Operations management is an attempt to improve plant management and its layout, better control of production scheduling, rapid inventory management, expedition of production processes and better equipment maintenance. On a broad scale, we can say that the goal of operations management is to achieve effectiveness and efficiency of different operations of the organization. On a very broad scale, there are five purposes of operations management. These are flexibility, speed, quality, cost management and dependability. The company chosen in this paper is Bank of England Museum.

Company Overview (Needs of Organisation's Customers)

The Bank of England Museum depicts the history of banks from 1694. The Bank of England Museum shows the history of bank note collections, ancient times and individual coins. The museum is a depiction of the bank's work and its financial system by showing the history of London's currency. The museum is open free to the public on weekdays, and on the day of the parade the Lord Mayor. It covers an area of 1000 m2 and is located in a renovated building from the late 18th century (Chase, 2001, p. 25).

The main Bank of England Museum is a depiction of the UK's financial instruments. The customers of Bank of England Museum have an interest in knowing the history of the financial system. The customers have their interest in knowing about different currencies and their history.

Operations of Organisation

Following are some operation functions of Bank of England Museum:

Input-process-output diagram

Following is the input-process-output diagram of Bank of England Museum, which helps museum to remain one of the best tourist attractions of England (Naughton 2002, pp. 25-32).

Service process type Used at Bank of England Museum

The manufacturing process used at Bank of England Museum includes planning and execution. Planning is the process in which museums consider different options to set its organizational objectives, like how to keep the building attractive, how to maintain the number of visitors, how to make visitors feel the scenes behind every antique (Chase 2001, pp. 25-30).

Execution is the process in which Bank of England Museum use various methods to make it plan works, like for keeping building attractive the museum plans to renovate and decorate building time to time, for making visitors happy and providing ...