After designing the operations systems, it is very important to constantly check the status of the system and improve the same to achieve faster and more efficient outcome.
Inventory Management is a key process which has direct impact on the profit/loss of a company and is an important financial parameter. Ineffective inventory management can lead to either excess inventory which increases cost as well as waste or lower inventory which causes production disruption.
Some Inventory management planning models in use are –
Project management and control
Project Management can be understood as comprising of the following:
Operations scheduling is concerned with implementing the plans, i.e. the detailed scheduling of jobs, assignment of workloads to machines (and people), and the actual flow of work through the system. Operations scheduling is required to be completed before planning for inventory management and inventory procurement planning and supply chain management of the end product have great dependence of operation scheduling.
Quality assurance is based on the principle that it is better to prevent quality problems rather than detecting these problems after the product has been made or the service provided.
Quality assurance activities
Organizations nowadays use different quality tools to reduce defects and improve quality. The most widely used such tool is Six Sigma.