Assignment No 4MARYYAM MEHMOOD7858-FMS/MBA/S-18CHAPTER 3 SUMMARY SUSTAINABILITY IN OPERATIONSOPERATIONS MANAGEMENT SUBMITTED TOSIR SHEIKH NASEER UL HAQ
Sustainability in operations:Sustainability,is themanagement and coordination of environmental, social and financial demands and concerns to ensure responsible, ethical and ongoing success.Operations that meet the present needs without compromising on the ability to meet future needs.Sustainability in operations include Economic sustainabilityEnvironmental sustainabilitySocial sustainabilityEconomic sustainability:It gives authority to the business organization to provide their goods andservices that result profit.Environmental sustainability:It give authority to an organization to deliver the products and services withoutcompromising.Social sustainability:Social Sustainability is a process or framework that promotes wellbeing withinan organizations own members while also supporting the ability of future generations to maintain a healthy community.Sustainability in operationsInventory:EconomicEnviron--mentSocialSustainability
Anything can be used in productionTypes of inventory1)Raw material2)Work-in-process(WIP)3)Finished goodsBusiness organizations are effected by certain events from time to time.Depletion of natural resourcesWaste generatedEnd-of-life –of-productOver the recent past, there has been growing concern on the impact of business on environment. All these increase because of reduction in natural resources, waste generated from productions and services, and extinction of product.3.1 Sustainability: A key business requirement The concept of sustainability comes with three pillars: economic, social, and environmental. Its focus is to meet the needs of today without blowing future generations' chances to meet their needs tomorrow.Sustainability in business is in two categories:its effect on the environment and its effect on society. For a business to become sustainable, it needs to focus on long-term strategies for making a positive impact on those categories. Sustainability is about framing business decisions in terms of years or even decades and considering many more factors than just a financial benefit.Sustainability has certain outcomes1)Business growth and profitability2)Increase in level of industry activities3)Increased level of consumption4)Increased consumption of natural resources In this country, mankind continuously invent new technology and products the organization only focuses on their profitability and market share to achieve the desire result organization use different machines and equipment. The wastage of natural resources causes atmospheric pollution that is very harmful for health.
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- Fall '19