ASSIGNMENT 2 FRONT SHEET
Qualification BTEC Level 4 HND Diploma in Business
Unit number
Unit 4: Management and Operations (488)
and title
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Re-submission Date received (2nd
date submission)
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4 5 6 3 4 2
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I. Operations and operations management
1. Key theories of operations management
Operations management (OM) is the business function responsible for managing the
process of creation of goods and services. It involves planning, organizing, coordinating, and
controlling all the resources needed to produce a company’s goods and services. Because
operations management is a management function, it involves managing people,
equipment, technology, information, and all the other resources needed in the production
of goods and services. Operations management is the central core function of every
company. https://www.informit.com/articles/article.aspx?p=2167438
Six sigma
Six Sigma is a methodology for improving the quality of operations management by
eliminating errors and defects, reducing cost, and saving time. It is primarily intended for
high-end engineering and manufacturing, where companies seek "six sigma" quality (fewer
than seven defects per million), but it can be adopted for other product and service
industries. It is expensive to implement, but, done properly, pays for itself and makes
companies into industry leaders and Centers of Excellence.
https://toughnickel.com/business/What-is-Six-Sigma-in-Operations-Management
Lean production
Lean production is an approach to management that focuses on cutting out waste and
ensuring quality by making the business more efficient and responsive to market needs. It
can be applied to all aspects of a business – from design, through production to distribution.
This approach sets out to cut out or minimise activities that do not add value to the
production process, such as holding of stock, repairing faulty product and unnecessary
movement of people and product around the business.
https://www.tutor2u.net/business/reference/introduction-to-lean-production