To purchase receive transport and store materials

Info icon This preview shows pages 18–21. Sign up to view the full content.

View Full Document Right Arrow Icon
To purchase, receive, transport and store materials efficiently and to reduce the related cost. To cut down costs through simplification, standardisation, value analysis, import substitution, etc. To trace new sources of supply and to develop cordial relations with them in order to ensure continuous supply at reasonable rates. To reduce investment tied in the inventories for use in other productive purposes and to develop high inventory turnover ratios. 1.3.7.8 Maintenance Management In modern industry, equipment and machinery are a very important part of the total productive effort. Therefore, their idleness or downtime becomes are very expensive. Hence, it is very important that the plant machinery should be properly maintained. The main objectives of maintenance management are: To achieve minimum breakdown and to keep the plant in good working condition at the lowest possible cost. To keep the machines and other facilities in such a condition that permits them to be used at their optimal capacity without interruption. To ensure the availability of the machines, buildings and services required by other sections of the factory for the performance of their functions at optimal return on investment. 1.3.8 TYPES OF OPERATIONS MANAGEMENT Every organisation has an operations function, whether or not it is called ‘operations’. The goal or purpose of most organisations involves the production of goods and/or services. These pages provide you with an idea of the sorts of tasks and processes that relate to operations management within each of the following industry types. Manufacturing products Providing insurance cover Providing healthcare Government Armed Forces peace keeping OXFAM bringing relief
Image of page 18

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
13 1.3.8.1 Manufacturing products Managing operations Receiving requirements Procuring raw materials Recruiting and retaining staff Budgeting and cash management Meeting Health, Safety and Legal requirements Planning resources Improving quality, cost and delivery Procuring / managing assets Defining policies and procedures Making products Storing and distributing products Negotiations Provide training Plan raw materials Process raw materials Make intermediates Process copy (for Control) Printing Quality control Recycling / rework 1.3.8.2 Providing insurance cover Managing operations Receiving requests for cover Assessing / reassess risk Answering customer enquiries Undertaking competitor reviews Processing claims Making payments Recruiting and retaining staff Budgeting and cash-flow management Meeting Health, Safety and Legal requirements Planning resources Improving quality, cost and delivery Customer care process Accredit repairers Forecast demand Process applications Process renewals
Image of page 19
14 Calculate no claims bonuses Arrange repairs Send out certificates / reminders Send out claims forms 1.3.8.3 Providing healthcare
Image of page 20

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 21
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern